Financing
Cushman files plans for an IPO
Published on
TPG acquired the firm in 2014
Cushman & Wakefield filed plans for an IPO as they hope to cash in on the nine-year bull market. The company will reportedly seek to raise about $1 billion at a valuation in excess of $5 billion, according to Bloomberg.
Who stands to gain: The investment group led by private-equity firm TPG that purchased the firm and several other related businesses in 2014 for more than $3.5 billion. PAG Asia Capital and Ontario Teachers’ Pension Plan are also part of the ownership group.
Worth Noting: Cushman plans to use the IPO proceeds to reduce its high debt level of $3.07 billion.
Be Smart: Private-equity firms often use IPOs as a way to exit their investments.
