People familiar with the matter say that PAG is considering a delay of its initial public offering in Hong Kong due to market volatility.
The people are asking not to be identified because the matter is private. The people said that PAG wants to avoid the sale taking place in a stock market that is volatile and could lead to investors demanding steep discounts and weak trading in the first days after listing.
The people said that a listing could happen soon if the markets improved. Representatives for PAG didn't respond to calls or emails.
PAG applied for an IPO in Hong Kong in March and was poised to be one of the financial hub's biggest listings. This year, companies have raised $5 billion from Hong Kong IPOs, which is less than the $35 billion raised in the next two years.
As much as $2 billion is possible with the firm's offering. People familiar with the matter say that PAG is considering a market cap of up to 15 billion dollars.
According to its website, PAG has $50 billion under management as of March 15. Private equity, private debt, distressed, real estate and absolute return funds are some of the strategies run by the firm. At the end of last year, it had nearly 300 investment professionals in 12 offices around the world. It sold a minority stake in the fund.
According to an exchange filing, Goldman and Morgan Stanley are sponsors of the planned share sale.
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