Goldman Sachs Pauses Relations With Sanctioned Oligarch Linked PE Firm: FT

Goldman Sachs Group (NYSE:GS) and Kirkland & Ellis halted new business with Pamplona Capital Management, the Financial Times reports.
Sanctioned oligarch Mikhail Fridman's LetterOne investment group accounted for 80% of the funds of the $9 billion private equity firm.
Waystone, a Cayman Islands firm, resigned from every role with Pamplona funds on 4 March, days after the EU imposed sanctions on Fridman and Petr Aven, another LetterOne shareholder.
UBS Group AG (NYSE:UBS), Houlihan Lokey Inc (NYSE:HLI), and Nomura Holdings Inc (NYSE:NMR) also sought legal advice concerning private equity group.
Pamplona also looked to separate itself from the group and wind down three funds.
The U.K. and the EU sanctioned three of Letter One's top shareholders, Fridman, Aven, and German Khan, whose stakes were frozen after they stepped down.
The EU also sanctioned another LetterOne founder, Alexey Kuzmichev.
The above sanctions were in response to Russia's Ukraine invasion.
Price Action: GS shares closed higher by 0.16% at $336.16 on Thursday.
Image by Tumisu from Pixaby

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