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.
By Jan-Henrik Foerster, Ruth David and Sridhar Natarajan
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.