Goldman Sachs Asset Management’s Petershill programme has made a strategic minority investment in middle-market private equity firm Harvest Partners.
The passive investment, which represents 15 per cent of the firm, will allow Harvest Partners to expand the ownership of the firm and further develop its platform, building on the firm’s long history of investing in the middle-market in North America. As part of the transaction, Harvest Partners’ senior leadership has made long-term commitments to the business. Terms of the transaction have not been disclosed.
Thomas Arenz, a Partner of Harvest Partners, says: “We are very pleased to be partnering with Goldman Sachs, a respected global institution that brings a broad range of capabilities and experience in supporting investment management firms. The investment by Petershill enables us to build on our 37-year history and execute our long term strategy to broaden our middle market franchise.”
Christian von Schimmelmann, co-head of Goldman Sachs Asset Management’s Petershill programme, says: “Harvest Partners has been able to build a world-class private equity business, delivering strong returns to investors for almost four decades. We are excited to expand our relationship with Harvest Partners through this investment and look forward to providing the firm with strategic capital and support.”
Evercore served as financial advisor to Harvest Partners and Kirkland & Ellis served as legal counsel.
