EQT Partners is said to add Goldman Sachs and Morgan Stanley as IPO banks

The Nordics' largest PE firm wants to go public and is seeking some of Wall Street's major firm's as advisers for its estimated EUR 4bn IPO.

Photo: /ritzau/AP/Richard Drew

EQT Partners, the Nordic region’s biggest private equity firm, has added Goldman Sachs Group Inc. and Morgan Stanley to a lineup of banks advising on its strategic review, which may lead to an initial public offering, people familiar with the matter said.

EQT is also considering selling a minority stake in the firm to a strategic investor as an alternative to the IPO, the people said, asking not to be identified as the discussions are private.

The company was already working with JPMorgan Chase & Co. and Sweden’s SEB AB on its review, people familiar with the matter said in January. An IPO could value the firm at about EUR 4bn (USD 4.5bn) and EQT may list a 25 percent stake in the business to raise about EUR 1bn, the people said. The firm will decide whether to list or sell a minority stake in the first half of the year, they said.

The buyout firm is also planning to add more banks to the syndicate, the people said. No final decisions have been made and EQT could also decide against a transaction, the people said. Representatives for EQT, Goldman and Morgan Stanley declined to comment.

Dyal Capital Partners, which buys minority equity stakes in asset managers, is among investors that have shown interest in EQT, the people said. Dyal, with more than USD 15bn in assets under management, has stakes in Bridgepoint, Cerberus Capital Management’s credit arm and Vista Equity Partners, according to its website. A representative for Dyal declined to comment.

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