Goldman’s Petershill Raises $5 Billion for Stakes in PE Firms

Goldman Sachs Group Inc.’s Petershill unit raised $5 billion for a vehicle that will invest in growth-focused private equity firms.

The money pool, named Petershill IV, raised more than its original target and already made eight investments in 2021, Goldman Sachs said in a statement on Wednesday. Petershill was founded in 2007 as a unit of Goldman Sachs Asset Management and buys minority stakes in private markets firms. Investments have included stakes in Accel-KKR, Riverstone Holdings LLC, Caxton Associates LP and Permira.

The business of buying minority stakes in private equity firms is booming, and Petershill rivals like Blackstone ...