Goldman to sell Petershill stake

Goldman Sachs is in talks to sell its Petershill Fund, a portfolio of hedge fund assets that the bank has run for the past five years. The fund was set up and run until last year by Jonathan Sorrell – the son of WPP’s Sir Martin Sorrell – who left last year in a high-profile move to Man Group. Asset Management Finance is believed to be the preferred bidder for Petershill, in a deal that could be worth $1bn.