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Petershill’s investment portfolio will be expanded with a new asset
Petershill, which is engaged in investment activities in the technology and healthcare sectors, announced the purchase of shares in LLR Partners. It is a minority stake, and the amount of the deal was not disclosed.
Petershill was founded by the investment bank Goldman Sachs in 2007. It went public in 2021, listing on the London Stock Exchange. Its valuation was 4 billion pounds, and during the IPO it managed to raise 1.2 billion pounds, the price per share was set at 350 pence, and the maximum was 359 pence. Despite the good results of the entry to the stock exchange, almost immediately after the listing, the value of Petershill fell by 10%, and one paper fell in price to 183 pence, which caused concern among investors. After some time, the company managed to improve its position and earn the trust of its customers again, increasing the value by 4% from the time of the fall. The reason for the collapse, according to some experts, was the opacity of Petershill’s policy. The fact is that the management did not disclose its shares in the invested companies and the fees for each client. In addition, Petershill issued a limited number of shares to the market, which increases the risk of volatility, given that the company’s assets do not have high liquidity.
Petershill now owns 23 minority stakes in various companies, compared to 19 before the public offering. The market valuation is just over £3 billion. In the prestigious FTSE-Mid 250 rating, the company ranks 31st in terms of assets.
Petershill and LLR have over $3 billion in total assets under management, and the companies have already notified their investors of the impending transaction. Petershill is based in London, and LLR is based in Philadelphia, in the United States.
LLR has been operating in the investment services market since 1999. It specializes in the technology and medical sectors. Its clients include ParkHub, a parking software company, and Eye Health America, a platform. LLR managed to raise $1.8 billion in its last round of financing in 2020.
The Petershill CEO said the deal with LLR will bring in more customers and expand the company’s position in the market. The important task now is to return the share price to what it was before the IPO, and so far the strategy chosen to do this is showing excellent results. He said that the business is careful in selecting partner firms, and LLR was not chosen by chance. The company is performing well according to its most recent financial statements. It also has a high level of investor confidence.