Investment firm General Atlantic is moving ahead with plans for an initial public offering after putting its listing ambitions on hold for nearly three years. The New York-based investment firm has selected JPMorgan Chase to take the lead role in the proposed IPO, according to a source familiar with the matter.
General Atlantic has also brought Morgan Stanley and Goldman Sachs into the offering, the source said. The listing could take place as early as this year, although discussions are still underway and the final structure of the transaction has not yet been determined.
The source requested anonymity because the talks remain private. Details surrounding the IPO, including the number of investment banks involved, could still change as General Atlantic continues preparations for the potential market debut.
General Atlantic, Morgan Stanley and Goldman Sachs declined to comment. JPMorgan did not immediately respond to a request for comment.
The latest move represents a renewed effort by General Atlantic to pursue a public listing. The firm confidentially filed for an IPO in December 2023, but subsequently postponed the offering as market volatility created less favorable conditions for new stock-market listings.
Conditions in the U.S. IPO market have improved in recent months, providing a more supportive environment for companies considering going public. Investor confidence has strengthened, encouraging businesses across several industries to revisit plans that had previously been delayed.
One of the most prominent recent listings was that of Elon Musk’s SpaceX earlier this year. The offering added momentum to a U.S. IPO market that has been showing signs of recovery after a period in which volatility and uncertainty made companies more cautious about launching new offerings.
For General Atlantic, the improved market backdrop could provide an opportunity to restart a process that has been delayed since its confidential filing in 2023. The involvement of major Wall Street banks also highlights the importance of the planned transaction and the potential scale of the offering.
General Atlantic is a major global investment firm with approximately $130 billion in assets under management. According to information published on its website, the firm has invested a total of $121 billion since it was founded.
Its investment portfolio spans a wide range of industries and markets. Among its holdings are Anthropic, an artificial intelligence company; PhonePe, an Indian digital payments company; and Banamex, a Mexican bank.
The firm’s broad international investment footprint has made it a significant participant in private markets. A public listing would mark an important step for the company as it seeks to bring its shares to public-market investors.
The decision to revive the IPO also comes at a time when companies and financial sponsors are reassessing the public markets following a prolonged period of uncertainty. The recent improvement in investor sentiment has created greater confidence around new listings, although market conditions can still influence the timing and size of individual offerings.
JPMorgan’s appointment as lead underwriter places the bank at the center of General Atlantic’s renewed IPO preparations. Morgan Stanley and Goldman Sachs are also expected to play roles in the transaction, giving General Atlantic a group of major investment banks with experience in large public offerings.
The hiring of JPMorgan was first reported by Bloomberg News, while The Wall Street Journal was the first to report that General Atlantic had revived its plans for a public listing.
Although the company could potentially complete the IPO as soon as this year, no final timetable has been confirmed. The ongoing discussions mean that the structure of the transaction and the group of banks involved could still change before General Atlantic formally proceeds with the offering.
