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Private investment firm General Atlantic is restarting its IPO process after shelving its listing plans for almost three years, The Wall Street Journal reported Monday.
The firm confidentially filed for an IPO in December 2023, but postponed the deal as market volatility made conditions less favorable for new listings. General Atlantic is now returning to the market as US IPO activity has strengthened and investor appetite for new offerings has improved.
The rebound has included the high-profile public listing of SpaceX earlier this year, helping encourage more companies across sectors to pursue IPOs.
General Atlantic is tapping JPMorgan Chase to lead the offering alongside Morgan Stanley and Goldman Sachs, according to Reuters.
Founded in 1980, the global investment firm specializes in providing capital and strategic support to high-growth companies. It is best known for growth equity, typically investing in established businesses that have significant expansion opportunities while remaining below the scale or maturity of traditional buyout targets.
General Atlantic has approximately $130 billion in assets under management and more than $121 billion invested since its inception. With offices and teams across 21 global locations, the firm has backed hundreds of companies, with its investment history including major technology and consumer names such as Alibaba, Facebook, Airbnb and Uber.
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