US real assets investment firm Management has secured an investment from Goldman Sachs Asset Management鈥檚 Petershill programme.
The Austin, Texas-based investment manager said it will leverage 鈥渢his passive, minority investment to accelerate the evolution of its platform as a leading middle-market real assets investment manager鈥�.
Financial details were undisclosed.
The Petershill programme targets value-added, long-term, minority investments by providing strategic capital to mid-sized asset management firms.
Robert Hamilton Kelly, co-head of Goldman Sachs Asset Management鈥檚 Petershill programme, said: 鈥淥ur aim is to partner with best-in-class firms and has developed the investment and organisational capability to be properly recognised as such.
鈥漌e鈥檙e looking forward to this partnership and helping Pennybacker realise continued success.鈥�
Timothy Berry, founder, CEO and co-CIO of Pennybacker, said: 鈥淭his transaction marks the next phase in Pennybacker鈥檚 growth.
鈥漌ith additional capital and a value-add partner, we look forward to extending our strong track record, while continuing to develop the culture and team that have contributed to our success.鈥�
To read the latest 麻豆映画 Real Assets magazine click here.
