Private equity firm General Atlantic has confidentially filed for a U.S. initial public offering, Bloomberg News reported on Monday, citing people familiar with the matter.
The company is considering listing as soon as next year depending on market conditions, the report added.
General Atlantic declined to respond to Reuters’ request for a comment.
The news comes as investor sentiment slowly recovers after a prolonged slump in dealmaking amid high interest rates and market volatility. Recently, high-profile technology names including SoftBank’s chip designer Arm and grocery delivery app Instacart (CART.O) tested the IPO market.
The last large private equity firm to go public in the United States was TPG (TPG.O) in January 2022. It raised about $1 billion and notched a valuation of over $10 billion in its market debut.
General Atlantic’s vast investment portfolio includes fast-fashion retailer Shein, India’s digital payments startup PhonePe and self-driving technology firm Mobileye (MBLY.O), its website showed.
The private equity firm, founded in 1980, has invested in over 500 companies, and currently holds a portfolio of 225 companies. According to General Atlantic’s website, it has $77 billion in assets under management.
