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Petershill Partners PLC on Friday reported increases across its portfolio of assets under management in 2023, as the firm forecasts steady gains over the coming year.
Petershill is a London-based investment group focussed on private equity and other private capital strategies. The company is operated by Goldman Sachs Asset Management, having been spun off from Goldman Sachs Group Inc in 2021.
Petershill said aggregate partner-firm AuM reached $304 billion by December, up 7.4% from $283 billion at the end of 2022, while fee-paying partner-firm AuM rose 14% to $221 billion over the same period.
Partner-firms saw $31 in billion fee-paying AuM gross inflows in 2023, boosted by $23 billion inflows during the fourth quarter as around $20 billion in previously raised AuM switched on towards the year’s end.
Organic gross fee-eligible AuM rose in-line with Petershill forecasts to $23 billion over the year.
As of the December 31, Petershill partner-firms had $8 billion of AuM not yet paying fees, down significantly from $28 billion in September. The company said that this $8 billion of AuM is expected to become fee-paying at some point during 2024.
Looking ahead to 2024, Petershill expects an organic gross fee-eligible AuM raise of between $20 billion and $25 billion, alongside realisations of between $5 billion and $10 billion. The company added that its 2024 forecast does not take into consideration any mergers or acquisitions that may take place throughout the year.
Shares in Petershill were up 0.7% at 161.26 pence each in London on Friday morning.
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