Know What's Happening in Industry

Goldman Sachs’ Petershill Targets $5bn for Fifth Flagship Fund

Goldman Sachs’ alternative investment arm Petershill is launching its fifth flagship fund, aiming to raise about $5 billion, equal to the size of its 2020 fund. The fund will continue the firm’s strategy of taking minority stakes in private‑market managers in exchange for a share of fees, carried interest and profits. The fundraising follows Petershill’s September delisting from the London Stock Exchange after its shares traded below the 2021 IPO price, and comes amid a broader slowdown in private‑equity capital raising, which fell to roughly $408 bn in 2025. Despite market headwinds, the unit has already returned $265 million this year and posted $3.2 bn of earnings since January 2024, underscoring its track record.