Petershill Partners to sell majority of its Industry Ventures stake to Goldman
Petershill Partners plc said on Tuesday that it has agreed to sell the majority of its non-controlling equity stake in Industry Ventures to Goldman Sachs for up to $236.6m.
The assets being sold comprise Petershill's interest in Industry Ventures' management fee-related earnings and future performance-related earnings (PRE). It will retain rights to existing PRE and balance sheet assets relating to existing funds with a carrying value of $41m as at 30 June.
The transaction is expected to close in the first quarter of next year, subject to regulatory approval and conditions.
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