LRQA has announced that Hillhouse, a leading global investment firm, has agreed to make a minority investment in the business, alongside existing investor Goldman Sachs Alternatives.
Goldman Sachs Alternatives will remain the majority shareholder, continuing to partner with LRQA’s management team to drive the next phase of growth.
LRQA has undergone a significant transformation in recent years, repositioning itself as a digitally enabled certifications and inspections business partner for global clients in complex and high-growth sectors.
Ian Spaulding, Chief Executive Officer of LRQA, said:
“This transaction represents a strong endorsement of LRQA’s strategy, our people and the transformation journey we have been on over recent years. Goldman Sachs Alternatives’ continued majority ownership reflects their confidence in LRQA’s long-term ambitions, and we welcome Hillhouse as a minority investor to support our growth journey.”
Michael Bruun, Global Co-Head of Private Equity at Goldman Sachs Alternatives, added:
“We are proud to have supported LRQA’s growth over the past five years and will continue to leverage our network and value creation capabilities to support the company’s expansion.”
Jose Barreto, Partner in Private Equity at Goldman Sachs Alternatives, said:
“We remain highly confident in LRQA’s future and are pleased to welcome Hillhouse as a minority investor and partner in the next stage of the company’s growth.”
Adam Hornung, Co-Chief Operating Officer at Hillhouse Investment, said:
“We are excited to make this investment with Goldman Sachs Alternatives as they continue to drive the growth of the LRQA business alongside Ian and his talented team.”
The transaction is subject to customary regulatory approvals and closing conditions.
Goldman Sachs Alternatives and LRQA were advised by Goldman Sachs, Rothschild & Co, Jefferies, Linklaters and EY. Management were advised by Squires Patton Boggs and Liberty.
About LRQA
LRQA is the leading global risk management partner. Through its connected risk management solutions, LRQA helps clients navigate an evolving global landscape to keep organisations one step ahead. From quality assurance to safety, cybersecurity, climate performance and responsible sourcing, LRQA works with clients to identify risks across their business. LRQA’s team of experts then creates smart, scalable solutions, tailored to help organisations prepare, prevent and protect against risk.
Through relentless client focus, backed by decades of sector-specific expertise, data-driven insight and on-the-ground specialists across assurance, certification, inspection, advisory and training, LRQA supports over 33,000 organisations in more than 150 countries. More: https://www.lrqa.com
About Private Equity 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 1986, Private Equity at Goldman Sachs Alternatives has invested over $75 billion since inception. The business combines a global network of relationships, unique insight across markets, industries and regions, and the worldwide resources of Goldman Sachs to build businesses and accelerate value creation across its portfolios.
About Hillhouse Investment
Founded in 2005 with initial funding from the Yale University, Hillhouse Investment Management ("Hillhouse") is one of the world's largest global private alternative asset managers. The company invests on behalf of leading institutional clients around the world, including university endowments, foundations, and sovereign wealth funds across the Americas, Europe, Asia and the Middle East. Hillhouse’s goal is to build a sustainable, forward thinking company that creates lasting value for all stakeholders. Hillhouse offers a diverse range of investment strategies, including Buyout, Real Assets (Rava Partners), and Private Credit (Elham Credit). Starting from its first office in Singapore, Hillhouse today boasts an international team of over 450 professionals from more than 18 countries, with other offices in New York, Tokyo, London, Mumbai, Hong Kong, Abu Dhabi, Amsterdam, Sydney, Shanghai and Beijing. The company has a proven track record of completing sophisticated multi-billion-dollar transactions in more than 30 countries worldwide. For more information, visit www.hillhouseinvestment.com
Media contacts:
LRQA: Holly Johnston, Global External Communications Manager - holly.johnston@lrqa.com
Goldman Sachs Alternatives: Joseph Stein, +44 207 774 4080
Hillhouse Investment: Nicholas Worley – Executive Director, Communications, nworley@hillhouseinvestment.com