Petershills holds guidance as Q1 AuM rises

Asset manager Petershill maintained annual guidance as it aggregate partner-firm assets under management rose 2% in the first quarter to $290bn, and 9% year-over-year.

Aggregate Fee-paying Partner-firm AuM was $195bn, increasing 1% during the quarter and 6% year-over-year.

"We re-iterate our 2023 guidance and expect partner fee related earnings to increase as we progress through 2023 driven by previously raised AuM becoming fee-paying and additional fee-paying AuM being raised," the company said.