The New York-headquartered investment bank signed the deal in early September to acquire the interests held in the €2.5 billion Partners Group Secondary 2008 fund, according to three sources familiar with the transaction. Pricing details were unclear, with one of the sources saying Goldman would pay a percentage of net asset value in the high 80s, while another source said the discount was in the low single digits.
The deal is expected to close by the end of September.
Zug-headquartered Partners came to market during the summer with the portfolio and hired Greenhill Cogent to run the process. It is understood the portfolio has a high exposure to public equities.
Financial News first reported that Partners was selling the portfolio.
Tail-end portfolio sales rose to account more than 30 percent of deal volume in the first half, up from 20 percent in 2015, according to Greenhill Cogent’s mid-year report.
Goldman Sachs, Partners Group and Greenhill Cogent all declined to comment.
– This story was updated to show pricing details were unclear.