Goldman Sachs Group Inc.’s Petershill unit, which specializes in buying stakes in alternative asset managers, is considering listing a permanent capital vehicle in London as soon as this year, people familiar with the matter said.
Petershill is working with advisers on the potential initial public offering, the people said, asking not to be identified because the information is private. Having a listed entity would offer a way for public market investors to gain exposure to Petershill’s funds while providing liquidity for some of their existing backers, the people said.
It could seek a valuation of around 3 billion pounds ($4.1 billion) for the London vehicle, though details of the potential deal haven’t been finalized, according to the people.
Petershill’s business of buying minority stakes in private equity firms is booming, and rivals like Blackstone Inc. and Blue Owl Capital Inc.’s Dyal Capital arm have also raised funds dedicated to the strategy.
Source: Bloomberg
By Jan-Henrik Foerster, Ruth David and Sridhar Natarajan
