Investment firm General Atlantic has selected JPMorgan Chase to lead its initial public offering (IPO), according to a source familiar with the matter. The move revives plans for a public listing that had been inactive for nearly three years.
The New York-based firm previously filed for a listing confidentially in December 2023. However, General Atlantic delayed those plans citing volatility in the financial markets at that time.
In addition to JPMorgan, the firm has reportedly hired Morgan Stanley and Goldman Sachs to assist with the offering. The source, who spoke on the condition of anonymity, indicated that the IPO could occur as early as this year, though discussions are ongoing and the roster of involved banks could change.
The scale of this move is reflected in the firm's $130 billion asset management base. While the specific number of shares or the price per share has not been reported, the revival of the IPO follows other major market activity, such as the listing of SpaceX earlier this year. For the broader market, this reflects a reported rebound in investor sentiment that is encouraging companies across various sectors to seek public listings after a period of relative inactivity.
Investors and market participants would notice a change in how they can interact with General Atlantic once it becomes a public company, as shares would be available on public exchanges. The timing remains fluid; while the source suggested a potential date within this year, no specific deadline or effective date has been finalized. General Atlantic, Morgan Stanley, and Goldman Sachs declined to comment on the report, and JPMorgan did not immediately respond to inquiries.
General Atlantic’s move follows a pattern of recent listings in the U.S. IPO market. The firm’s global footprint, spanning technology and banking sectors in the U.S., India, and Mexico, means the outcome of this offering could serve as a benchmark for other large private equity and investment firms considering similar public transitions. What happens next depends on the finalization of bank roles and the filing of formal offering documents with regulators.