Private asset manager Bridgepoint intends to undertake an initial public offering on the London Stock Exchange, raising about £300 million ($416 million).
The €27.4 billion ($32.7 billion) firm, which runs six investment strategies in private equity and private credit, is aiming to list on the premium segment of the LSE, it said Tuesday. The IPO is set to be made up of new ordinary share issuance, with raised capital used to support its growth plans.
The company is targeting a free-float of at least 25% of issued share capital, with the expectation that it would be eligible for inclusion in FTSE U.K. indexes.
The offer would be targeted to certain institutional investors, it said in an announcement detailing its intentions.
Bridgepoint acquired EQT Credit last year, accelerating its growth in private credit.
"Bridgepoint operates across the middle market at scale, providing access for some of the world's most experienced investors to attractive growth businesses through its unique local insights and expertise and its well-resourced platform," William Jackson, executive chairman, said in the announcement.
"Today, Bridgepoint has an increasingly global footprint across Europe, North America and Asia. We expect this strong growth to continue in the near and longer-term as we continue to develop our existing strategies and further broaden our platform," he added.
A spokesman could not immediately be reached for further comment.