(Businesshala) – P10 Inc., the parent of investment firm P10 Holdings Inc., said on Tuesday it is targeting a valuation of about $2 billion in its initial public offering in the United States.
Dallas-based P10 focuses on lower-middle market deals in areas such as private equity, venture capital and private debt, and operates four divisions that include RCP Advisors and TrueBridge Capital Partners.
Businesshala exclusively reported on the company’s listing plans last month.
P10 is offering 11.5 million shares of its Class A common stock, with stockholders seeking to sell 8.5 million shares. On top of a price range of $14 to $16 per share, the company will raise $320 million through an IPO.
The proceeds from the shares sold by the selling shareholders will not go to the company.
Other asset managers such as private-equity giants TPG and L Catterton are also seeking public listings, as shares of major buyout firms have risen this year.
Shares of Blackstone Inc. have risen nearly 77 per cent this year, while KKR & Co. has gained 62 per cent.
Shares of P10 will be listed on the New York Stock Exchange under the symbol “PX”.