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Petershill Partners PLC on Tuesday maintained its guidance for 2025 as it reported increased assets under management for the first half of the year. Petershill Partners is a London-based investment group operated by Goldman Sachs Asset Management and focused on private equity and other private capital strategies. It said aggregate partner-firm assets under management on June 30 were $351 billion, up 3.5% from $339 billion at the end of the prior quarter, and 6% higher compared to a year ago. It said fee-paying partner-firm AuM was $245 billion at the end of the period, up 4.7% from $234 billion on March 31. It increased 3% from a year prior. Petershill noted that the aggregate AuM and fee-paying AuM increases are inclusive of mergers and acquisitions during the period. It said the organic gross fee-eligible AuM raise was $12 billion in the second quarter and a total of $19 billion for the first half of the year, which reflects the bringing forward of asset raising that was previously expected in the second half of the year. It noted partner-firm realisations of $3 billion of fee-paying AuM during the quarter and a total of $6 billion in the first half of the year. The investment performance of partner-firm funds led to an increase of $1 billion in fee-paying partner-firm AuM during the quarter and for the first half of the year. At the end of June, partner-firms had $3 billion of AuM that were not yet paying fees, compared to $4 billion at the end of the prior quarter. Petershill said the impact of the disposal of its stake in Harvest Partners will reduce aggregate partner-firm AuM by 5.4% to $332 billion on a pro-forma basis at the end of the quarter. The company maintained its guidance for between $20 billion and $25 billion of organic fee-eligible AuM raise during 2025, with realisations between $5 billion and $10 billion in fee-paying AuM. It expects full year partner fee related earnings between $180 million and $210 million for 2025, compared to $186 million in 2024. Petershill is also forecasting PRE of 15% to 30% of total partner revenues, with acquisitions above the medium-term range of between $100 million and $300 million per year. The company also left its guidance for an adjusted earnings before interest and tax margin of between 85% and 90% unchanged. Shares in Petershill Partners were down 0.4% at 238.50 pence in London on Tuesday morning. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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