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Oaktree-backed Store Capital eyes $2bn IPO

2 Jul 2014

stock exchangePrivate equity-backed retail estate owner Store Capital has reportedly hired banks to explore an IPO or an outright sale.

The company, which is backed by Oaktree Capital Management, could raise between $300m and $500m via an IPO and have a market cap of around $2bn, people familiar with the situation told Reuters.

Store has hired Goldman Sachs, Morgan Stanley and Credit Suisse to help with the potential IPO, which could take place before the end of the year, said the sources.

The company is more likely to opt for an IPO rather than an outright sale as its CEO Chris Volk wants to continue to run the company.

In the meantime, another company backed by Oaktree, radio station operator Townsquare Media, has recently come back from bankruptcy protection and is due to float on the New York Stock Exchange.

The company hopes to raise a maximum of $143.8m in the IPO, a regulatory filing showed.

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