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MONEY MANAGEMENT

GSAM’s Petershill program buys 12% stake in Riverstone Holdings

Goldman Sachs Asset Management's Petershill program acquired a 12% stake in Riverstone Holdings, a New York-based energy investment firm, GSAM spokesman Andrew Williams confirmed.

Financial terms were not disclosed.

Riverstone is a private equity firm with approximately $36 billion of capital raised since 2000, focused on buyouts and growth investments in energy and power firms.

This is the second investment GSAM has made through the Petershill program this week. On Tuesday, GSAM announced it made a minority equity investment in technology-focused private equity firm Accel-KKR.