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Petershill Partners
Petershill Partners acquires minority stakes in alternative asset managers, capturing GP economics across private equity, hedge funds, and credit since...
Petershill Partners
Petershill Partners launched in 2007 as a unit of Goldman Sachs Asset Management, designed to acquire minority equity stakes in private alternative investment firms. Ali Raissi-Dehkordy and Robert Hamilton Kelly serve as Co-Heads, overseeing a portfolio of general partner interests that spans private equity, hedge funds, private credit, and real assets. The firm does not manage outside capital directly — it owns slices of the management companies that do, creating a diversified claim on fee streams across uncorrelated strategies. By mid-2021, Goldman Sachs had committed approximately $10 billion to Petershill's strategy, acquiring positions in firms that collectively managed over $250 billion. Confirmed portfolio companies include Accel-KKR, Industry Ventures, and Riverstone Holdings. The firm targets established managers with durable franchises, typically taking passive, non-voting stakes that leave founders in operational control. Its investments span North America, Europe, and Asia, reflecting a deliberate geographic dispersion across institutional-grade platforms. In May 2023, Petershill Partners completed a strategic step-back from its broader integration, confirming its identity as a permanent capital vehicle with Ali Raissi-Dehkordy and Robert Hamilton Kelly named as Co-Heads (per the firm's official communications, 2023). The unit operates from London and New York. In 2021, Petershill Partners went public on the London Stock Exchange as a standalone entity, though Goldman Sachs retained a significant ownership stake. Its structural differentiator is a direct claim on general partner economics — management fees, performance fees, and balance-sheet co-investment returns — without assuming the operational or reputational risk of managing limited partner capital. This architecture converts the industry's maturation into a predictable, fee-based income stream, making Petershill a proxy for alternative-asset industry growth rather than a competitor to its investee firms.
General information
Firm type
Generic
Year founded
2007
AUM
Undisclosed
Location
Region
Europe
Country
United Kingdom
City
London
Corporate office
London, United Kingdom
Additional offices
New York, United States
Principals
Ali Raissi-Dehkordy
Co-Head
Robert Hamilton Kelly
Co-Head
Sector focus
Frequently asked questions
Who runs investment decisions at Petershill Partners?
Ali Raissi-Dehkordy and Robert Hamilton Kelly serve as Co-Heads of Petershill Partners, overseeing the acquisition and management of minority equity stakes in alternative investment firms (per the firm's official communications, 2023). They operate within Goldman Sachs Asset Management's broader permanent capital platform, sourcing and evaluating GP-stake opportunities globally.
How does Petershill Partners source its deal flow?
Petershill sources opportunities through Goldman Sachs' extensive institutional network, building relationships with alternative-asset managers seeking growth capital, succession liquidity, or strategic partnerships. The firm's reputation as a passive minority investor — one that does not interfere with investment decisions or operational management — often places it in competitive processes where founders prioritize non-control transactions.
Does Petershill Partners manage any limited-partner funds directly?
No. Petershill Partners does not manage commingled LP funds, direct co-investment vehicles, or any product that competes with the general partners in which it invests. Its sole activity is acquiring and holding minority equity stakes in the management companies of alternative investment firms, thereby participating in their fee and earnings streams without operating as a fund manager itself.
Which types of alternative investment firms does Petershill target?
Petershill Partners targets established alternative asset managers across private equity, hedge funds, private credit, real assets, and secondaries. The firm seeks platforms with durable franchises, multi-cycle track records, and institutional LP bases. Confirmed portfolio firms include Accel-KKR, Industry Ventures, and Riverstone Holdings — managers that collectively oversee hundreds of billions in LP capital.
What is Petershill Partners' relationship with Goldman Sachs?
Petershill Partners originated as a business unit within Goldman Sachs Asset Management in 2007. In 2021, it listed on the London Stock Exchange as a standalone public company, though Goldman Sachs retained a substantial ownership stake. The firm continues to benefit from Goldman's origination, due diligence, and operational infrastructure while maintaining independent public-company governance.
How does Petershill Partners generate returns?
Petershill Partners generates returns through the fee-related earnings and balance-sheet co-investment income of its portfolio firms. By owning minority GP stakes, it collects a pro-rata share of management fees, carried interest, and investment returns from the funds those GPs manage — creating a diversified income stream that is structurally distinct from direct fund investing.
What is Petershill's known posture on taking control positions?
Petershill Partners exclusively acquires passive, non-voting minority stakes in its investee firms. Founders and management teams retain full operational and investment control. This structure is central to Petershill's value proposition — it appeals to managers who want growth capital or partial liquidity without ceding autonomy over their investment processes or firm culture.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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