Petershill Partners PLC said on Tuesday that it will sell the majority of its non-controlling equity stake in Industry Ventures to Goldman Sachs Group Inc.
London-based alternative investment group Petershill, founded by Goldman Sachs in 2007, said the total nominal consideration for its stake in Industry Ventures is valued up to approximately $236.6 million. This value is up 5% from June 30.
The consideration consists of approximately $163.9 million settled in cash at closing and an additional contingent consideration of up to $72.7 million, payable in cash, based on Industry Ventures’ future performance through 2030.
The transaction is expected to close in the first quarter of 2026, subject to regulatory approval and conditions.
San Francisco-based Industry Ventures is a leading venture capital platform that currently manages $7 billion of assets under supervision.
The assets disposed of by Petershill consist of its interest in Industry Ventures’ management fee-related earnings and future performance-related earnings.
It will retain rights to existing performance-related earnings and balance sheets assets relating to existing funding, which are expected to be completed and phased out over time.
Petershill also said on Tuesday that Aberdeen Equity Income Trust PLC no longer holds shares covered by voting intent, following the disposal of 1.3 million ordinary shares on October 13.
Shares in Petershill rose 0.5% to 308.50 pence on Tuesday morning in London.
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