Petershill Partners sees Q3 AuM slip as firm readies for delisting

(Sharecast News) - Goldman Sachs-backed Petershill Partners reported a slight fall in assets under management and earnings over the third quarter, ahead of its proposed delisting from the London Stock Exchange next week

The general partner solutions investment firm, which is set to delist and return capital to shareholders, reported aggregate partner-firm assets under management (AuM) of $344bn by 30 September, down 2% over three months but 5% higher than last year.

Aggregate fee-paying partner-firm AuM fell 2% quarter-on-quarter and increased 3% year-on-year to $240bn.

Petershill, which debuted in London in September 2021, announced two months ago that it would seek delisting since its share price and valuation has "not appropriately reflected the quality and underlying value of the company's assets".

Shareholders then voted overwhelmingly in favour of the proposed plans at a meeting in early November.

"We acknowledge shareholders have approved the independent Board's proposal to return capital to free float shareholders for the cancellation of their shares, ahead of the expected delisting of the Company on 5 December," said Ali Raissi-Dehkordy and Robert Hamilton Kelly, co-heads of the company.