Goldman Could Sell Petershill

Apr 19 2012 | 11:12am ET

Goldman Sachs is in talks to sell its Petershill Fund to a Credit Suisse unit that takes minority stakes in hedge funds and asset managers.

A deal with Asset Management Finance is not necessarily imminent, The New York Times reports. Nor is it clear how much of Petershill AMF would buy or how much it would pay. But the group, which owns stakes in 21 asset managers, including hedge funds Brigade Capital Management and FX Concepts, is reportedly interested in most of Petershill's portfolio, which includes minority stakes in some of the bigger names in the hedge fund industry, among them Capula Investment Management, Trafalgar Asset Management and Winton Capital Management.

Goldman's motives for seeking to unload Petershill are unclear, but impending U.S. regulations strictly limiting banks' alternative investment activities and some difficulties for Petershill—three of its portfolio companies have closed down in the past year—could be among the factors. In addition, the fund's manager, Jonathan Sorrell, left Goldman for the Man Group last summer.

Goldman launched the private equity fund in 2007 with $1 billion.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The healthcare sector went on a tear beginning in 2011, thanks in large part to the passage of the Affordable Care Act and its impending implementat