First Reserve is eyeing between $16 and $18 per share through the public listing, which will see its stake in the Canada-headquartered business drop to 61.3 per cent.
Hitting the $18 mark for the shares would see the business valued at $1.37bn.
CHC provides helicopter services to the offshore oil and gas industry, which ties in with First Reserve’s wider strategy of investing in energy deals.
Last month First Reserve promoted two executives in its buyout team as it continued fundraising for up to $7.5bn across two new vehicles.
Gary Reaves was made a managing director and Will Brown a director after seven years at the firm.
First Reserve is currently targeting $5bn for its latest flagship fundraise, well below the $9bn it gathered for First Reserve XII in 2009.
It is also looking to collect up to $2.5bn for a second dedicated infrastructure fund according to filings with the US securities regulator.
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