(Alliance News) - Petershill Partners PLC on Thursday reiterated 2024 guidance after reporting slight growth in assets under management in the first quarter.

Shares in Petershill Partners rose 1.0% to 206.50 pence in London on Thursday.

Petershill is a London-based investment group focussed on private equity and other private capital strategies.

In the quarter to March, Petershill said aggregate partner-firm assets under management were USD312 billion, increasing 3% during the quarter and 8% year-over-year.

Aggregate fee-paying partner-firm assets under management were USD225 billion, increasing 2% during the quarter and 15% year-over-year.

Organic gross fee-eligible assets under management raised was USD8 billion for the quarter, Petershill said.

"Our Partner-firms continued to experience steady fund-raising activity with USD8 billion of gross fee eligible assets raised during the quarter. Following a slower deployment year in 2023 for new Partner-Firm M&A, activity has picked up - we have closed three transactions in recent weeks and are continuing to evaluate opportunities," the company said in a statement.

By Jeremy Cutler, Alliance News reporter

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