A unit of Goldman Sachs asset management is looking to purchase a large group of holdings being sold by asset manager, Invesco.
“Sources said that an agreement to buy the private company stakes, which are nominally valued at hundreds of millions of pounds, could be finalised within weeks....It was unclear on Wednesday whether any further discount to their value would be agreed beyond the 60% reduction that Invesco said it had applied to the portfolio at the end of March.”
Mark Kleinman, City Editor of Sky News
The talks exemplify a desire to rapidly shift illiquid holdings that have been adversely impacted by the outbreak of COVID-19. The holdings are estimated to be worth several hundred million pounds.