Petershill at Goldman Sachs Alternatives Announces That It Has Entered Into A Definitive Agreement To Sell Its Non-Control Ownership Stake In Kayne Anderson Real Estate

On June 29, 2026, Petershill at Goldman Sachs Alternatives (“Goldman Sachs”) announced that it has entered into a definitive agreement to sell its stake in Kayne Anderson Real Estate (“Kayne Anderson”, “KARE”, or “the Firm”). The transaction is expected to close subject to customary closing conditions.

The KARE realization, following satisfaction of customary closing conditions, will be sold at a premium to Petershill’s net asset value and builds on our recent exit activity across the platform, with approximately $4.2 billion of aggregate realized proceeds generated across financing activity and ten realizations since the beginning of 2024. This recent realization and capital return activity includes the expected full realization of ArcLight Capital Partners in May 2026 (subject to customary closing conditions), the full realization of Arctos Partners in May 2026, the full realization of Industry Ventures in January 2026, the full realization of Harvest Partners in July 2025, the partial realization of Willow Tree Credit Partners in July 2025, the full realization of General Catalyst in January 2025, the partial realization of Incline Equity Partners in January 2025, the partial realization of Accel-KKR in November 2024, and the full realization of LMR Partners in September 2024.

Kayne Anderson Real Estate manages approximately $22 billion of assets across real estate equity and debt strategies and has built a leading position in specialist sectors supported by structural, long-term demographic and secular demand tailwinds.¹ These sectors include medical outpatient, seniors housing, student housing, multifamily housing and light industrial assets. Since its founding in 2007, the business has established a strong track record of investment performance, fundraising and organic growth. Petershill initially acquired its non-control ownership stake in the Firm in January 2020. During Petershill’s ownership period, Kayne Anderson Real Estate demonstrated strong platform growth, with the Firm’s AUM growing approximately four-fold.

Robert Hamilton Kelly, Co-Head of Petershill at Goldman Sachs Alternatives, added: “Petershill is grateful for our long-standing partnership with Kayne Anderson Real Estate. We believe this outcome reflects the strength and quality of the business they have built, and we wish the team continued success in the Firm’s next phase of growth.”

Ali Raissi-Dehkordy, Co-Head of Petershill at Goldman Sachs Alternatives, commented: “We believe this transaction further reinforces that liquidity in GP stakes is not episodic, but a function of a long-term, disciplined platform approach. Petershill remains focused on executing realizations that reflect the quality of our Partner-firms and deliver tangible outcomes for our investors.”

About Petershill at Goldman Sachs Alternatives

Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over $625 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, venture capital, private credit, real estate, infrastructure, sustainability, and hedge funds. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs.

The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets.

The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world’s leading institutions, financial advisors and individuals. Goldman Sachs has approximately $3.7 trillion in assets under supervision globally as of March 31, 2026.

Established in 2007, Petershill at Goldman Sachs Alternatives partners with leading alternative asset managers and helps to accelerate their strategic development. Petershill’s minority investments seek to support the creation of long-term value by providing strategic capital to enhance employee retention, facilitate business development, buy out legacy equity holders and generate strategic options –while preserving the autonomy and entrepreneurial spirit of these organizations.

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Victoria Zarella
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¹ Source: Kayne Anderson Real Estate, as of June 2026.