Jan 10 New York-based investment bank Moelis &
Co is working with Goldman Sachs Group Inc and others on
a potential initial public offering, the Wall Street Journal
reported on Friday, citing people familiar with the matter.
Founded by Wall Street dealmaker Ken Moelis, the bank is
assembling paperwork for its IPO, and working on it with law
firm Skadden, Arps, Slate, Meagher & Flom LLP and other
advisers, the Journal said.
Moelis in November said it hired former Citigroup Inc
banker Jonathan Kaye to focus on its merger and acquisition
practice and shareholder activism, in a sign that investment
banks want to be able to advise public companies as shareholders
look to shake up boardrooms.
The firm was founded in March 2007, after Ken Moelis stepped
down from his role as an investment banker at Swiss financial
giant UBS AG to open his own investment
Ken Moelis and other employees together hold an 85 percent
stake in the company, while another 10 percent of the firm is
owned by institutional investors, people familiar with the IPO
plans told the WSJ.
Andrea Hurst, a media relations representative at Moelis,
was not immediately available to comment.
Moelis may not decide to go public at this time and instead
opt for other ways of raising funds, but the bank sees a
potential opportunity for an IPO soon, in the wake of a strong
stock-offering market, the people told the WSJ.
Last year ranked as the strongest for U.S. IPOs since 2000
by dollar volume, according to Thomson Reuters data, as large
floats such as Hilton Worldwide Holdings and Plains GP
Holdings lifted deal proceeds up 21 percent from 2012
to $56.4 billion in 2013.
Last year also marked Moelis's best year of revenue, as the
firm advised on multibillion-dollar deals that included
ketchup-maker H.J. Heinz Co's takeover by Berkshire
Hathaway Inc and Brazilian private-equity firm 3G
Capital, the WSJ said, citing the people.