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Petershill Partners PLC on Friday reported that partner assets under management increased in the second quarter and first half of 2023.
Petershill Partners is a London-based investment group focussed on private equity and other private capital strategies. It invests in 25 alternative asset management firms. Petershill is operated by Goldman Sachs Asset Management, having been spun off from Goldman Sachs Group Inc in 2021.
Petershill said aggregate partner-firm assets under management was $300 billion on June 30, increasing 3.0% quarter-on-quarter, and 7.0% year-on-year.
Aggregate Fee-paying partner-firm AuM on June 30 was $196 billion, rising 1.0% from the prior quarter, and 7.0% from the previous year.
The company had inflows of $14.0 billion in its second quarter, and fee-paying inflows of $1.0 billion in the same period. Realisations of were $6.0 billion and $1.0 billion, respectively.
In the first half as a whole, inflows were $23 billion and fee-paying inflows $3 billion. Realisations were $10 billion and $4 billion, respectively.
‘Whilst the market environment for fund raising has softened, we maintain our full year guidance for organic gross fee-eligible AuM raise of $20 to $25 billion,’ said Petershill.
Petershill said that as of June 30, its partner-firms had $28.0 billion of assets under management which was not yet paying fees, a 65% increase from $17.0 billion it had on December 31.
Petershill Partners was trading at 165.00 pence in London on Thursday afternoon.
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