Petershill Partners' AUM grows in Q1 amid positive momentum
Petershill Partners
249.50p
16:40 27/12/24
Investment company Petershill Partners said on Wednesday that aggregate partner-firm assets under management had grown in the three months ended 31 March amid positive momentum.
Financial Services
17,595.00
16:29 27/12/24
FTSE 250
20,488.65
16:29 27/12/24
FTSE 350
4,495.62
16:29 27/12/24
FTSE All-Share
4,453.14
17:05 27/12/24
Petershill said aggregate partner-firm AUM grew 14% in the quarter to $266.0b and was up 55% year-on-year.
The FTSE 250-listed group stated aggregate fee-paying partner-firm AUM was $184.0bn, growing 16% during the quarter and 33% year-on-year as gross inflows hit $28.0bn, realisations came to $3.0bn and mark-to-market increases were $1.0bn.
Petershill highlighted that the year had started with "positive momentum" and said it now expects full-year aggregate FP partner-firm AUM gross inflows to be consistent with its prior guidance of $40.0bn to $45.0bn.
For the twelve months ended 31 March, partner fee-related earnings were 24% higher and partner distributable earnings were 41% higher when compared to the same period a year earlier.
Petershill also noted that a 22% increase in management fees to $77.0m reflected the impact of growth in aggregate FP partner-firm AUM.
As of 1010 BST, Petershill shares were down 0.66% at 227.50p.
Reporting by Iain Gilbert at Sharecast.com