July 14, 2020 / 5:36 PM / 25 days ago

Goldman Sachs unit buys stake in Permira - sources

FILE PHOTO: FILE PHOTO: The Goldman Sachs company logo is seen in the company's space on the floor of the New York Stock Exchange, (NYSE) in New York, U.S., April 17, 2018. REUTERS/Brendan McDermid/File Photo

MUNICH/NEW YORK (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.

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.

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

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