Goldman’s Petershill to list $5-billion unit in London

Goldman Sachs Group Inc’s Petershill unit, which specialises in buying stakes in alternative asset managers, plans to list a new investment vehicle in London that could be valued at more than $5 billion. Petershill will place minority stakes in 19 private equity, hedge funds, and other alternative managers into a structure that will then list in an initial public offering, according to a document filed with the London Stock Exchange on Monday. The new Petershill vehicle will issue shares worth around $750 million as well as sell existing shares. The entity, to be called Petershill Partners, will hold stakes in companies managing $187 billion in assets.