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Petershill Partners PLC on Friday said in 2022 it had a higher raise in fee-eligible assets under management than expected.
Petershill is an investment vehicle operated by Goldman Sachs Asset Management that invests in alternative asset managers. The company started trading on the London Stock Exchange in September 2021.
For 2022, the organic gross fee-eligible AuM raise was $60 billion, 9.1% ahead of its $55 billion guidance.
Its aggregate partner-firm AuM as at December 31 rose 21% to $283 billion, from $234 billion a year ago.
Petershill’s aggregate fee-paying partner-firm AuM grew 23% over the same period to $194 billion from $158 billion.
The company said partner-firms had $17 billion in AuM with no paying fees, but will pay fees in 2023.
Petershill estimates organic gross fee-eligible AuM raise of $20 billion to $25 billion in 2023 and anticipates realisations of $5 billion to $10 billion.
Petershill Partners shares rose 2.5% to 162.40 pence each on Friday morning in London.
By Tom Budszus, Alliance News reporter
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