General Atlantic, a New York-based private equity firm, has confidentially filed for a US IPO, according to reporting from Bloomberg news.
The firm plans to list as early as 2023, according to sources familiar with the matter.
General Atlantic’s portfolio includes fast-fashion retailer Shein, the self-driving car company Mobileye and India-based fintech firm PhonePe, according to its website. The company was founded in 1980 and currently has about $77 million in assets under management.
The firm would be the major private equity listing in the US since TPG went public in January 2022 with an IPO that raised roughly $1 billion.
The IPO market has been in something of an extended slump, with semiconductor design firm Arm Holdings PLC (NASDAQ:ARM) and grocery delivery service Instacart (NASDAQ:CART) the recent notable exceptions.
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