European buyout firm CVC Capital Partners has lined up three Wall Street titans to arrange its potential initial public offering, according to people familiar with the matter.
The private equity firm plans to work with Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley on the stock-market listing, said the people, who asked not to be identified discussing confidential information. CVC is considering listing in London in the second half of the year, the people said.
CVC agreed in September to acquire secondary buyout specialist Glendower Capital and also lined up a minority stake sale to Blue Owl Capital Inc. at a $15 billion valuation. The fresh investor and acquisition were seen as CVC paving the way for a future IPO, Bloomberg News has reported.
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
No final decisions have been made on the listing, and the bank line-up and timing could still change, the people said. Representatives for CVC, JPMorgan and Morgan Stanley declined to comment, while a spokesperson for Goldman Sachs couldn’t immediately comment.
CVC has been studying a listing for some time after the successful IPOs of European rivals Bridgepoint Group Plc and EQT AB. American alternative asset manager TPG Inc. raised $1 billion about a week ago, joining many of its U.S. peers that have gone public.
Source: BNN Bloomberg
Can’t stop reading? Read more
Carlyle backs Mecachrome with €290m financing in aerospace credit push
Carlyle backs Mecachrome with €290m financing in aerospace credit push Carlyle has committed €290m...
Invesco teams up with LGT to push private equity and credit into wealth market
Invesco teams up with LGT to push private equity and credit into wealth market Invesco has...
Welsh Carson scores IPO exit as Lumexa Imaging raises $463m in US debut
Welsh Carson scores IPO exit as Lumexa Imaging raises $463m in US debut Welsh Carson Anderson...