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Goldman Sachs launches Petershill asset administration unit for $ 750 million

© Reuters. FILE PHOTO: The Goldman Sachs company logo resides on the floor of the New York Stock Exchange (NYSE) in New York City, United States on July 13, 2021. REUTERS / Brendan McDermid

By Lawrence White

LONDON (Reuters) – Goldman Sachs (NYSE 🙂 will list asset management unit Petershill Partners for $ 750 million on the London Stock Exchange, it said on Monday.

Petershill, which takes minority stakes in private equity and hedge funds, will be a standalone company operated by the Goldman Sachs asset management team, it said.

The company is using its relationship with Goldman Sachs to find attractive acquisitions in the alternative wealth management space, it said.

Petershill has no fixed assets himself but holds positions in 19 alternative asset managers.

It realigned its 2017 investment strategy to technology and is now focusing on the impact of the COVID-19 pandemic by investing in companies in sectors such as healthcare, balance sheet repair and environmental, social and governance (ESG).

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