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Management to buy out Goldman Sachs AM

Management to buy out Goldman Sachs AM

Killian Plastow
— 1 minute read

Global growth private equity firm TA Associates has announced its support of a management buyout of Goldman Sachs Asset Management’s Australian focused investment capabilities and fund platform.

TA Associates explained that the buyout will see the Goldman Sachs Asset Management (GSAM) division become a standalone entity under the guidance of current GSAM head of Australian equities Dion Hershan, who will serve as managing director of the new business.

Mr Hershan will be joined by fellow GSAM Australian focused investment capabilities and fund platform senior managers Katie Hudson and Roy Keenan, TA Associates said.

“We are confident that we have found the right partner in TA Associates; we believe this partnership with such a high-calibre organisation, with its significant experience investing in our industry, will benefit all stakeholders,” commented Mr Hershan.

“With TA’s support, we will build upon our strong foundation, continuing to serve our clients, pursuing strong investment returns and further growing our business.”

TA Associates managing director and co-head of Asia Edward Sippel said the current management team were well suited to running the new business.

“Dion, Katie, Roy and the team have established themselves as a strong and trusted asset manager and have grown the Company significantly over the last nine years via a high-quality product suite and an extensive distribution network," he said.

“As a long-term investor in fund management companies, TA looks forward to supporting their proven investment philosophy, process and strategy."

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