Goldman’s Petershill raises $2.5 bln to scoop up minority stakes: Wall Street Journal

Goldman Sachs Group Inc has raised $2.5 billion to buy minority stakes in private equity firms, the Wall Street Journal is reporting. Goldman’s Petershill Group had targeted $2 billion for the fund, the story said. The pool buys passive stakes in midsize firms with assets of $5 billion to $20 billion, the WSJ said. Buying non-control stakes in private equity firms has become a popular strategy with a handful of firms. Goldman’s Petershill competes against Neuberger Berman’s Dyal Capital Partners.