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Goldman Sachs Asset Management closes Petershill Private Equity fund at $2.5 billion

Goldman Sachs Asset Management closed the $2.5 billion Petershill Private Equity fund and associated vehicles, which will acquire minority interests in private equity managers, spokesman Andrew Williams said in an email.

The fund was substantially oversubscribed, exceeding its $2 billion fundraising target. The private equity fund is part of GSAM's Petershill program, which takes stakes in hedge fund, long-only and private equity managers.

Investors in Petershill Private Equity fund include the $15.4 billion New Mexico Public Employees Retirement Association, Santa Fe.