Goldman's Petershill Unit Gets Subline from Societe Generale

Starwood Capital and AJ Capital Partners arrange credit line for Field & Stream feeder fund

Goldman Sachs’ Petershill advanced the fifth vintage of its flagship GP stakes strategy by securing a subscription credit line from a lending group led by Societe Generale, while Barry Sternlicht’s Starwood Capital Group and AJ Capital boosted the borrowing capacity of the investment funds that back their Field and Stream lodging venture. These are followed by a table of additional fund financing deals.

Petershill/Goldman Sachs Asset Management

• Lender: Societe Generale

• Borrower: Petershill V Offshore SPCs

• Loan Type: Umbrella credit agreement

• Collateral: Investor capital commitments

Petershill, a unit of Goldman Sachs Asset Management, invests in asset managers that specialize in alternative assets. The firm began marketing the fifth version of its flagship strategy earlier this year, Bloomberg reported in February. Management’s goal is to match the $5 billion fund-raise that Petershill IV completed in early 2022.

Fund V filed several private placement notices in June, a step that exempts it from US registration requirements when raising capital from sophisticated investors. The investor commitments will serve as collateral for the July 29 credit agreement with Societe Generale, the administrative agent for the lending group.