Goldman Sachs (GS) is ready to list the new investment vehicle Petershill Partners on the London Stock Exchange (LSE). The new vehicle will be composed of assets already under Goldman Sachs and will facilitate existing investors selling 25% of their stakes to offer on the market. Petershill Partners' IPO is expected to raise about $750m at an estimated $5b valuation. Petershill, which has minority stakes in 19 alternative assets managers, will allow institutional investors such as pension funds to access stakes in private equity firms.
GS's move comes just a month after Bridgepoint announced plans for a $2.8b IPO on the LSE (you may call it a private asset manager clash of the titans). Overall, there were 785 private equity deals in the UK in just the first half of 2021. The combined value of these deals amounts to approximately $102b.