HPS Investment Partners, the private credit manager spun out of JPMorgan Chase & Co in 2016, has opened discussions with potential investors about an initial public offering at a valuation of over $10bn, according to a report by Bloomberg.
The report cites unnamed sources familiar with the matter as confirming that the firm could make its financials public as early as next week.
A representative for HPS declined to comment.
HPS, which managed around $117bn in assets as of June, had already confidentially filed IPO paperwork with the US Securities and Exchange Commission, Bloomberg reported last year.
Founded in 2007 by Scott Kapnick, Scot French, and Mike Patterson, HPS is one of the largest independent managers in the $1.7tn private credit market. In 2016, HPS finalised its buyout from JPMorgan in a deal that valued the firm at nearly $1bn.
