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Report: Goldman closes fund aimed at buying stakes in private equity firms

Goldman Sachs Group Inc. has raised $2.5 billion to acquire minority stakes in private equity firms, The Wall Street Journal reported.

Petershill Private Equity LP, a group within Goldman's asset management unit, originally sought $2 billion for the investment pool. The new fund will primarily seek to acquire passive stakes in firms with assets of $5 billion to $20 billion.

The Petershill program made a minority investment representing less than 10% of the economic interests of Accel-KKR LLC in May 2017.