Parthenon Capital has secured a minority investment from Goldman Sachs Asset Management’s Petershill program. No financial terms were disclosed.
BOSTON – Parthenon Capital (“Parthenon”), a leading growth-oriented private equity firm, announced today the completion of a minority investment from Goldman Sachs Asset Management’s Petershill program (“Petershill”). Petershill’s passive, non-voting minority investment was primarily designed to provide capital to Parthenon to significantly increase its investment in its flagship private equity funds, including Parthenon Investors VI and subsequent funds.
Brian Golson and Dave Ament, co-CEOs and Managing Partners of Parthenon, commented, “This transaction was motivated by our desire to further align with our LPs and the executives and company owners we partner with. We remain very focused on building market leading companies in specific sectors of healthcare, financial services and technology services and are excited to more deeply support those companies. Goldman Sachs Asset Management has been a strong partner to Parthenon for many years and we look forward this new aspect of the relationship.”
Christian von Schimmelmann, co-Head of Petershill, said, “Goldman Sachs has seen first-hand Parthenon’s success in driving performance across their portfolio companies, having invested as an LP for over a decade. Parthenon stands out for their truly outstanding track record and their ability to both identify compelling growth opportunities and build market-leading companies to capitalize on those opportunities. We’re excited to make this minority investment to further support them in the years ahead.”
About Parthenon Capital
Parthenon Capital is a leading growth-oriented private equity firm with offices in Boston, San Francisco and Austin. Parthenon utilizes niche industry expertise and a deep execution team to invest in growth companies in service and technology industries. Parthenon seeks to be an active and aligned partner to management, either through recapitalization transactions or by backing new executives. Parthenon has particular expertise in financial and insurance services, healthcare and technology services, but seeks any service, technology or delivery business with a strong value proposition and proprietary know-how. For more information, visit www.parthenoncapital.com.
About the Goldman Sachs Petershill Program
AIMS Petershill is a private equity program which seeks to provide strategic capital to asset management firms through minority investments. We focus on value creation and events that increase investor alignment with established firms which we believe still have their best days ahead of them. Petershill’s investments seek to support the creation of long-term value by providing strategic capital to enhance employee retention, facilitate business development, buy out legacy equity holders and generate strategic options – while preserving the autonomy and culture of these organizations. The Petershill program launched in 2007 as the first dedicated fund focusing on alternatives asset management investing, and has raised over $8.0bn of commitments since inception. Petershill has partnered with over 35 alternative asset management firms.