U.S. financial services firm Blackstone Group LP is preparing an initial public offering (IPO) of benefits administration and cloud-based human resource services provider Alight Solutions LLC, that could be valued at over $7 billion.
The IPO, which is estimated to secure between $500 million and $750 million, could come in the first half of 2019.
Blackstone has hired JPMorgan Chase & Co, Bank of America Corp and Morgan Stanley to underwrite Alight's IPO.
Blackstone intends to also contemplate any purchase offers it may receive for Alight.