Investment Firm Confirms Guidance for Partner Fee-Related Earnings
- Petershill Partners reports increased income and pretax profit due to fee-related earnings growth
- London-listed investment firm confirms full-year guidance for partner fee-related earnings
- Company expects organic fee-eligible assets between $20B-$25B, fee-paying assets between $5B-$10B in 2024
- Interim and special dividends declared from the sale of stake in LMR Partners
Petershill Partners, an investment firm operated by Goldman Sachs Asset Management, reported a rise in income and pretax profit due to double-digit growth in fee-related earnings. The London-listed company posted $163.9 million in pretax profit for the first half of 2024, up from $129.3 million in the same period last year. Total income increased to $146.3 million from $138.0 million. Petershill Partners confirmed its full-year guidance for partner fee-related earnings between $200 million and $230 million, with organic fee-eligible assets expected to be in the range of $20 billion to $25 billion and fee-paying assets between $5 billion and $10 billion by 2024. The company also declared an interim dividend of 5.0 cents and a special 9.0 cent dividend from the sale of its stake in LMR Partners.
Factuality Level: 10
Factuality Justification: The article provides accurate and objective information about Petershill Partners’ financial performance, including specific numbers and guidance for the year. It also includes quotes from Co-Managing Directors Ali Raissi-Dehkordy and Robert Hamilton Kelly, making it a reliable source of information.
Noise Level: 3
Noise Justification: The article provides relevant information about the financial performance and guidance of Petershill Partners, but lacks in-depth analysis or exploration of long-term trends or consequences of decisions. It also does not offer actionable insights for readers.
Public Companies: Petershill Partners (LON:PHL)
Private Companies: Goldman Sachs Asset Management,LMR Partners
Key People: Ali Raissi-Dehkordy (Co-Managing Director), Robert Hamilton Kelly (Co-Managing Director)
Financial Relevance: Yes
Financial Markets Impacted: Investment firm Petershill Partners and Goldman Sachs Asset Management
Financial Rating Justification: The article discusses the financial performance of an investment firm, its guidance for the year, and its impact on the company’s operations and dividends.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.
Move Size: No market move size mentioned.
Sector: Finance
Direction: Up
Magnitude: Large
Affected Instruments: Stocks
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