Accel-KKR, a technology-focused private equity firm, has received a minority equity investment from Goldman Sachs Asset Management (NYSE: GS). The non-voting stake represents less than 10 percent of the economic interests of the firm.

PE firms bringing aboard outside investors is a trend that is expected to continue as these firms look to scale. In some cases, private equity firms want liquidity or simply want to work in partnership with a firm.

The deal follows similar partnerships between other investment banks and PE firms, including: Littlejohn & Co., the Riverside Co., and Vista Equity Partners. In April, the Riverside Co. sold a minority stake of its firm to private trust company Parkwood LLC to grow its new debt lending business. As private equity firms are looking to grow, Littlejohn also received a direct investment from Goldman Sachs’ Petershill program in August 2016. Vista Equity sold less than twenty percent to an investor group led by Dyal Capital in July 2015. Dyal Capital also acquired a minority stake in Silver Lake in July 2016.

“This investment follows a 15-year relationship between Accel-KKR and Goldman Sachs Asset Management under which Goldman Sachs Asset Management funds have invested across all three of Accel-KKR’s strategies – buyouts, growth capital and credit,” states managing director Tom Barnds. “This investment will help us expand and grow our future capital commitments to our strategies, and to remain the largest investor going forward.”

The funding comes from the buyer’s Petershill program. Goldman Sachs’ Petershill invests minority stakes in private equity firms, hedge funds and alternative managers to help them with their strategic development. The fund has more than $150 billion under management.

Accel-KKR is a technology-focused private equity firm with U.S. offices in Menlo Park, California and Atlanta. Accel-KKR has been active recently. The firm sold its software company Abila in April and also began raising capital for its Accel-KKR Credit Partners LP Series 1 in December 2016. In 2016, Accel-KKR acquired the Smart Communications division from Thunderhead and invested in cloud software company IntegriChain in March. The firm also closed its fifth buyout fund valued at $1.3 billion amid high interest in the software industry. Barclays plc served as financial adviser to Accel-KKR, while Kirkland & Ellis provided legal advice on the minority investment transaction.