By Lawrence White
LONDON (Reuters) – Goldman Sachs (NYSE:) will list asset management unit Petershill Partners on the London Stock Exchange for $750 million, it said on Monday.
Petershill, which takes minority stakes in private equity and hedge funds, will be a standalone company operated by the Goldman Sachs Asset Management team, it said.
The business takes advantage of its relationship with Goldman Sachs to source attractive acquisitions in alternative asset management, it said.
Petershill itself has no fixed assets but holds positions in 19 alternative asset managers.
It pivoted its investment strategy to focus on technology in 2017 and is now shifting to focus on the effects of the COVID-19 pandemic by investing in firms in sectors such as healthcare, balance sheet repair and environmental, social and governance (ESG).
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