Sorgente, an Italian fund manager with some €4.5 bn in assets, has confirmed that it is preparing the launch of an initial public offering.
Sorgente, an Italian fund manager with some €4.5 bn in assets, has confirmed that it is preparing the launch of an initial public offering.
In a statement last week, Rome-based Sorgente said it has invited investors in its funds in Italy to participate in the offering, but added that not all of them have provided feedback on the operation.
Although the company did not disclose further details on the planned IPO, it said that the Flatiron in New York - the company's crown jewel - will not be included in the operation, which will only comprise assets in Italy.
Sorgente Group, led by Valter Mainetti, operates through three holdings, Sorgente Group Spa in Italy, Sorgente Group of America Corp. for the US and Sorgente Group International Holding Ltd for other international investments.
Barclays and Banca Imi are acting as global coordinators, while Intermonte is responsible for structuring the operation.
Sorgente is the second Italian fund manager believed to be preparing an IPO. Earlier this week, Anima Holding, which controls Italian fund manager Anima SGR, was rumoured to be studying the listing of 55% of the group on the Milan stock market.
