By Josh White
Date: Friday 21 Jul 2023
LONDON (ShareCast) - (Sharecast News) - Alternatives investment group Petershill Partners reported significant progress in its portfolio in a first-half update on Friday, achieving impressive milestones in assets under management growth.
The FTSE 250 company said that during the second quarter ended 30 June, it saw a 3% increase in aggregate partner-firm assets under management, reaching $300bn.
Over the same period, aggregate fee-paying partner-firm assets under management grew 1% to reach $196bn.
The figures indicated a year-on-year growth rate of 13% and 7%, respectively.
Petershill also reported organic gross fee-eligible assets under management growth, raising $8bn during the second quarter and a total of $14bn in the first half of the year.
Despite a slightly softened market environment for fundraising, the firm said it remained confident in meeting its full-year guidance for organic gross fee-eligible assets under management, aiming for between $20bn and $25bn.
Partner firms under Petershill's management also experienced noteworthy inflows of $1bn in fee-paying assets under management during the second quarter, contributing to a total of $3bn in the first half.
Additionally, partner firms achieved $1bn in realisations of fee-paying assets under management during the second quarter, making for a total of $4bn in the first six months of the year.
The board said the strong investment performance of partner-firm funds played a pivotal role in driving growth in fee-paying partner-firm assets under management, contributing an additional $1bn during the second quarter and $3bn in total for the first half of 2023.
"As at 30 June, partner-firms had $28bn of assets under management which is not yet paying fees, up from $17bn as at 31 December," the board said in its statement.
Reporting by Josh White for Sharecast.com.
Email this article to a friend
or share it with one of these popular networks:
Currency | UK Pounds |
Share Price | 208.50p |
Change Today | -0.50p |
% Change | -0.24 % |
52 Week High | 210.00 |
52 Week Low | 142.00 |
Volume | 172,882 |
Shares Issued | 1,119.58m |
Market Cap | £2,334.32m |
Beta | 0.00 |
Value |
---|
Price Trend |
---|
Income |
---|
Growth |
---|
Latest | Previous | |
---|---|---|
Final | Interim | |
Ex-Div | 09-May-24 | 28-Sep-23 |
Paid | 14-Jun-24 | 27-Oct-23 |
Amount | 10.10¢ | 4.90¢ |
Time | Volume / Share Price |
13:43 | 1,000 @ 208.50p |
13:43 | 550 @ 208.50p |
13:43 | 2,302 @ 208.50p |
13:07 | 596 @ 208.50p |
13:07 | 3,868 @ 208.50p |
You are here: research