Petershill Partners blames ‘enduring valuation discount’ as it quits London Stock Exchange
Investment firm Petershill Partners has become the latest business to unveil plans to quit the London Stock Exchange after it complained of suffering from an “enduring valuation discount.”
The FTSE 250 business, which was founded by Goldman Sachs in 2007, said its lacklustre share price “did not appropriately reflect the quality and underlying value” of its assets.
“Since 2022, significant macroeconomic, market, geopolitical and industry-specific headwinds have dampened public market investor interest in the alternative asset management sector, particularly for smaller and more specialised firms,” Petershill said.
“As a result, despite strong operating and financial performance, the company’s investment case has resonated less strongly with investors than at the time of the IPO.”
The company said it planned to return more than $900m (£669m) to shareholders at a premium of 35 per cent over Wednesday’s closing share price. The stock rocketed 33 per cent as a result of the move.
Petershill Partners is another blow to the LSE
Petershill, which was first floated on the London Stock Exchange in 2021 and continues to be majority-owned by Goldman, had seen its shares lose around a third of its value over the past four years.
That came despite the firm’s assets under management growing from $187bn in June 2021 to $351bn in June 2025, an annualised growth rate of 17 per cent.
The disparity meant Petershill shares had been traded at an average discount of 44 per cent. to listed US and European alternative asset management firms based on last twelve months price-to-earnings multiples, the firm said.
Peterhill’s board said it would hold a shareholder vote to approve the company’s plans to delist.
The proposals come as another blow to the London Stock Exchange, which has been battling to revive its fortunes as a major listing destination amid a dearth in flotations.
According to data from Dealogic, funds raised by London IPOs in the first half of the year slid to £160m, the lowest in 30 years.