REG - Petershill Prtnrs - Sale of the majority of stake in Industry Ventures

Petershill PartnersAnnouncement

Tue 07:00

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RNS Number : 1873D  Petershill Partners PLC  14 October 2025

 

Petershill Partners plc ("Petershill Partners"), announces the sale of the
majority of its stake in Industry Ventures

 

14 October 2025

 

·     Petershill Partners announces that it has entered into an agreement
for the sale of the majority of its non-controlling equity stake in Industry
Ventures. The sale arises from a full sale of Industry Ventures, led by its
management team, to The Goldman Sachs Group, Inc. "Goldman Sachs" (NYSE: GS),
as announced by Goldman Sachs after US market close yesterday.

 

·     Founded in 2000, Industry Ventures is a leading venture capital
platform that currently manages $7 billion of assets under supervision
("AuS")(1). Industry Ventures invests across all stages of the venture capital
and private technology lifecycle through complementary fund strategies.

 

·     The total nominal consideration payable for Petershill Partners'
non-controlling equity stake in Industry Ventures is up to approximately
$236.6 million, consisting of approximately $163.9 million settled in cash at
closing and additional contingent consideration of up to $72.7 million,
payable in cash, based on Industry Ventures' future performance through 2030.

 

·     The estimated present value of the total consideration represents a
5% premium to the $186.4 million carrying value of the interests being sold as
at 30 June 2025, and equates to approximately 4% of PHP's market
capitalisation, based on the closing share price of 307 pence per share on 13
October 2025.

 

·     The assets disposed of by Petershill Partners comprise its interest
in Industry Ventures' management fee-related earnings ("FRE") and future
performance-related earnings ("PRE"), while retaining rights to existing PRE
and balance sheet assets relating to existing funds with a carrying value of
$41.0 million as at 30 June 2025, which are expected to be realised and
run-off over time.

 

·     The transaction is expected to close in the first quarter of 2026,
subject to regulatory approval and conditions.

 

 

 1  AuS reflects fee paying client assets managed on a discretionary basis.

 

ABOUT PETERSHILL PARTNERS

Petershill Partners and its subsidiaries is a diversified, publicly listed,
global alternatives investment group focused on private equity and other
private capital strategies. Through its economic interests in a portfolio of
alternative asset management firms ("Partner-firms"), Petershill Partners
seeks to provide investors with exposure to the growth and profitability of
the alternative asset management industry. Petershill Partners is operated by
Goldman Sachs Asset Management and is governed by a diverse and fully
independent Board of Directors (the "Board").

 

Through our Partner-firms, we have exposure to $351 billion of total assets
under management ("AuM") as at 30 June 2025, ($332 billion on a pro-forma
basis excluding Harvest), comprising a diverse set of more than 200 long-term
private equity and other private capital funds where capital is typically
locked in over a multi-year horizon. We expect these underlying funds to
generate recurring management fees and the opportunity for meaningful profit
participation over the typical 9+ year lifecycles of such funds. Petershill
Partners believes its approach is aligned with the founders and managers of
its Partner-firms and, as a result, allows Petershill Partners to participate
in these potential income streams in a way that we anticipate will provide
high-margin, diversified and stable cash flows for its shareholders.

 

For more information, visit https://www.petershillpartners.com
(https://www.petershillpartners.com) . Information on the website is not
incorporated by reference into this press release and is provided merely for
convenience.

 

ISIN: GB00BL9ZF303

 

ABOUT INDUSTRY VENTURES

Founded in 2000, Industry Ventures is a leading venture capital platform that
currently manages $7 billion of assets under supervision (AuS). Industry
Ventures invests across all stages of the venture capital and private
technology lifecycle through complementary fund strategies. The firm is
headquartered in San Francisco, with offices in Washington, DC, and London.

 

 

 

 

 

 

 

 

Contact Information

Please direct any questions to Petershill Partners Investor Relations, via
e-mail, at PHP-Investor-Enquiries@gs.com
(mailto:PHP-Investor-Enquiries@gs.com)

Analyst / Investor
enquiries:

 Gurjit Kambo    +44 (0) 207 051 2564
 Ian Hughes      +44 (0) 207 051 4067

Media enquiries:

 Brunswick Group    phll@brunswickgroup.com (mailto:phll@brunswickgroup.com)
 Simone Selzer                          +44 (0)207 404 5959

 

FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements that involve
substantial risks and uncertainties. You can identify these statements by the
use of forward-looking terminology such as "may," "will," "should," "expect,"
"anticipate," "project," "target," "estimate," "intend," "continue," or
"believe" or the negatives thereof or other variations thereon or comparable
terminology. You should read statements that contain these words carefully
because they discuss our plans, strategies, prospects and expectations
concerning the business, operating results, financial condition and other
similar matters. These statements represent the Company's belief regarding
future events that, by their nature, are uncertain and outside of the
Company's control. There are likely to be events in the future, however, that
we are not able to predict accurately or control. Any forward-looking
statement made by us in this press release is based upon information known to
the Company on the date of this press release and speaks only as of such date.
Accordingly, no assurance can be given that any particular expectation will be
met and readers are cautioned not to place undue reliance on forward looking
statements. Additionally, forward looking statements regarding past trends or
activities should not be taken as a representation that such trends or
activities will continue in the future. Other than in accordance with its
legal or regulatory obligations (including under the UK Listing Rules and the
Disclosure Guidance and Transparency Rules of the Financial Conduct
Authority), the Company undertakes no obligation to publicly update or revise
any forward-looking statement, whether as a result of new information, future
events or otherwise.

 

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