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Private equity-backed Markit set for New York IPO

6 May 2014

Private equity-backed financial information provider Markit has filed to list on the New York Stock Exchange.

Reports suggest the company is looking to raise anywhere between $750m and $2bn.

Markit is backed by US growth equity firm General Atlantic, which invested $250m back in 2010, for a 7.5 per cent stake. The deal at the time valued the company at near to $3bn.

Singapore sovereign wealth fund Temasek invested $500m in Markit last year, in a deal that valued the company at around $5bn.

The company, which provides financial information services to customers including banks, hedge funds, asset managers, central banks, regulators, auditors, fund administrators and insurance companies, reported revenues of $947.9m for 2013.

BofA Merrill Lynch, Barclays, Citigroup, Credit Suisse, Deutsche Bank Securities, Goldman, Sachs & Co., HSBC, J.P. Morgan, Morgan Stanley, UBS Investment Bank, BNP Paribas, Jefferies, RBC Capital Markets and TD Securities are listed as joint book-runners for the proposed offering,

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