Goldman Sachs is to list its alternative asset investor, Petershill Partners, in a deal expected to value the business at more than $5bn (£3.6bn).
The Wall Street giant will hive off holdings in 19 alternative asset managers and float the new entity, Petershill Partners, on the London stock exchange, according to filings yesterday.
The investment vehicle plans to raise $750m by issuing new shares and will use the proceeds to buy stakes in private equity and other investment firms.
Petershill was founded in 2007 to invest directly in alternative asset managers and gain exposure to their steady streams of management and performance income. It has holdings in 19 firms that collectively manage $187bn for their investors.
A flotation would make it the largest listed alternatives business in London.
In its 14-year history, Petershill has raised and deployed $8.5bn of capital across a broad range of strategies including private equity, private credit, private real assets and absolute return.
