Petershill, an investment firm operated by Goldman Sachs Asset Management, completed the investment in Pennybacker Capital, a real assets investment management firm. Financial terms were not disclosed. "This transaction marks the next phase in Pennybacker's growth. With additional capital and a value-add partner, we look forward to extending our strong track record, while continuing to develop the culture and team that have contributed to our success," Timothy Berry, Pennybacker Founder, Chief Executive Officer, and Co-Chief Investment Officer.