GI is in exclusive talks following an auction process, the report said.
The company majority owned by Welsh, Carson, Anderson & Stowe, which acquired it from majority owner Seaport Capital and buyout firm McCarthy Capital.
Earlier this year GI Partners hit a $2bn hard cap final close for its latest buyout fund, tripling the total it has raised since inception in a single blow. The firm was initially targeting $1.5bn for Fund IV, but AltAssets revealed in January it had already bested that mark as thoughts turned to its hard cap.
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