General Atlantic’s TriNet prices $240m IPO

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Private equity-backed TriNet Group has priced its shares at the midpoint of its range for its upcoming IPO, valuing the company at over $1bn.

The NYSE listing will see the company sell 15,000,000 shares, raising around $240m.

Buyout backer General Atlantic could sell an additional 2,250,000 shares. The private equity firm first invested in TriNet back in 2005.

TriNet provides HR services to small to mid-sized businesses, including bundled HR products, strategic services and software. The company has over 8,900 clients in a variety of industries and manages more than $17 in payroll and insurance premiums a year.

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