(Reuters) - P10 Inc, the holding company of investment firm P10 Holdings Inc, on Monday filed for an IPO in the United States, becoming the latest alternative asset manager exploring a public listing as shares of such firms have rallied this year. While P10 has not yet set terms for its IPO, Reuters reported earlier this month the Dallas-based firm could seek a valuation of more than $1 billion. 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 shares are up 90%, while KKR & Co Inc’s shares have gained nearly 52% this year, with low interest rates and a surge in corporate valuations boosting their financing ability and value of their holdings. 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. The company, which will list on the New York Stock Exchange, had $14.2 billion of fee-paying assets under management as of June 30, it said in its filing. For the six months ended June 30, P10’s revenue was $66.8 million, more than doubling from the same period last year. Net income attributable to the company rose 41% to $4.2 million. Morgan Stanley, J.P. Morgan, Barclays and UBS Investment Bank are among the underwriters for the IPO.
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