Petershill Partners realizes its investment in Industry Ventures

Realization is part of Goldman Sachs’ announcement of its acquisition of Industry Ventures for up to $965 million

Industry Ventures is a VC platform focused on secondary, primary, and direct VC investments with $7 billion in assets under supervision

Consideration will consist of $665 million in cash and equity at closing and an additional $300 million contingent on Industry Ventures' performance through 2030

Industry Ventures will join Goldman Sachs Asset Management's External Investing Group (XIG)

Goldman's GP Stakes business, Petershill Partners, actually acquired a minority stake in Industry Ventures in 2019, but will realize its investment as Goldman Sachs is acquiring 100% of Industry Ventures

Advisors: Goldman Sachs (Goldman Sachs, Wachtell, Lipton, Rosen & Katz, Weil, Gotshal & Manges LLP), Industry Ventures (Oppenheimer & Co. Inc., Dechert LLP, Cooley LLP)