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TPG has hired JPMorgan Chase & Co. and Goldman Sachs Group Inc. to underwrite its planned initial public offering, according to people familiar with the matter, moving the private-equity powerhouse closer to a milestone it has flirted with for years.

The Wall Street Journal reported in June that TPG was in the early stages of weighing a public listing that could value it at some $10 billion.

The firm, which at the time was considering both a straightforward IPO and a merger with a special-purpose acquisition company, is moving forward with the former and has been drafting paperwork it plans to file confidentially with regulators in the coming weeks, some of the people said. That could set up the shares to start trading by year-end.

“We continue to evaluate strategic alternatives and have nothing to announce at this time,” a TPG spokesman said in a statement.

With headquarters in San Francisco and Fort Worth, Texas, and offices around the world, TPG manages nearly $100 billion in assets. The firm, one of the last of the original buyout giants to remain a private partnership, has considered launching an IPO at times in the past, only to end up deciding against it.

Source: WSJ

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