Alternative asset manager P10 eyes $2 bln valuation in U.S. IPO

Ridgepost Capital

12/10/2021 13:38

Oct 12 (Reuters) - P10 Inc, the parent of investment firm
P10 Holdings Inc, said on Tuesday it is targeting a valuation of
nearly $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
credit, and operates four divisions that include RCP Advisors
and TrueBridge Capital Partners. 
    Reuters had exclusively reported on the company's listing
plans last month.  urn:newsml:reuters.com:*:nL8N2QC4F9
    P10 is offering 11.5 million shares of its Class A common
stock, with selling stockholders looking to sell 8.5 million
shares. At the top end of the price range of $14 to $16 per
share, the company will rake in $320 million through the IPO.
    Proceeds from shares sold by the selling stockholders will
not go to the company.
    Other asset managers like private-equity giant TPG and L
Catterton are also reportedly exploring public listings, as
shares of major buyout firms have soared this year.
    Blackstone Inc's  BX.N  shares are up nearly 77% this year,
while KKR & Co  KKR.N  has jumped 62%.
    Shares of P10 will be listed on the New York Stock Exchange
under the symbol "PX".
    

 (Reporting by Niket Nishant in Bengaluru; editing by
Uttaresh.V)
 ((Niket.Nishant@thomsonreuters.com;))