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Petershill is close to buying a stake in Arsenal Capital from Goldman Sachs – sources said

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January 14 () – Petershill Partners Plc, a London-listed subsidiary of Goldman Sachs Group Inc.’s asset management division, is approaching an agreement to buy a stake in private equity firm Arsenal Capital Partners, people familiar with the matter say.

According to sources, Petershill, which bought a minority stake in alternative asset managers, has dominated the auction to invest in Arsenal Capital.

The size and value of the share under discussion could not be confirmed. It is not clear what Arsenal Capital will do with the proceeds and its founders will take advantage of the opportunity to sell a portion of their shares.

Representatives of Goldman Sachs and Arsenal Capital declined to comment.

Sources said the talks could still end without an agreement and asked not to be identified because of the confidentiality of the case.

Private equity firms typically sell shares to raise capital to finance growth initiatives such as planting new capital.

New York-based Arsenal Capital will primarily invest in acquisition and growth capital in industrial and healthcare businesses. The firm was founded in 2000 and has about $ 5.8 billion in managed assets.

Launched by Goldman Sachs in 2007, Petershill is one of the pioneers of the general partnership equity investment business. It competes with several major firms, including Blackstone Inc. and Dyal, Blue Owl.

Petershill was listed on the initial public offering in London in September. Since then, it has lost nearly a third of its stock value.

Petershill said it completed raising funds for its fourth fixed fund after raising $ 5 billion from investors earlier this week. The firm’s previous investments in private equity fund managers include Accel-KKR, Francisco Partners and Riverstone Holdings. (Reporting by Chibuike Oguh in New York. Additional Report by Svea Herbst-Bayliss. Edited by Jane Merriman)

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