GS

Goldman Sachs unit buys stake in Permira -sources

Credit: REUTERS/BRENDAN MCDERMID

MUNICH/NEW YORK, July 14 (Reuters) - A unit of Goldman Sachs Group Inc GS.N has bought a stake in the private equity firm Permira, three people with knowledge of the matter said on Tuesday.

Permira will use the funds as a war chest to finance expansion in the private equity sector, the people said.

Two of the people said that the stake was below 10%, and valued Permira at more than 5 billion euros ($5.7 billion).

The Goldman unit involved is Petershill, an arm that invests in alternative-investment firms.

Permira in Germany and Goldman in London declined to comment.

The Frankfurter Allgemeine Zeitung reported the investment on Tuesday, but reports that a deal was being discussed had emerged in March.

($1 = 0.8771 euros)

(Reporting by Alexander Huebner and Elizabeth Dilts Marshall; Writing by Tom Sims; Editing by Kevin Liffey)

((Tom.Sims@thomsonreuters.com; +49 69 7565 1242;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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