Jupiter Investment Management Holdings, the money management firm run by Edward Bonham Carter, plans to raise more than £220 million ($318 million) in an IPO.
The firm plans to list its shares on the London Stock Exchange next month, the company said in a statement.
TA Associates, the private equity firm that owns a stake in the company, will also sell part of its holding.
Jupiter is going public after sovereign debt downgrades spurred the most turmoil in European equity markets since the collapse of Lehman Brothers Holdings. Shares of Gartmore Group, another U.K. money manager that went public in December, are trading for a third less than the price at which they were first sold to the public.
Unlike Gartmore, where until this year two managers oversaw more than a third of the firm’s assets under management, no single manager oversees more than 20% of the Jupiter’s funds.
Jupiter will use the money raised in the IPO to reduce debt. Employees will keep “significant shareholdings” after selling part of their stake in the IPO, according to the statement.
Jupiter had £19.5 billion in assets under management as of Dec. 31, with 86% in equities and about 13% in fixed income.
