Private investment firm General Atlantic is restarting its process for an initial public offering after shelving its listing plans for nearly three years, The Wall Street Journal reported Monday.

The firm, which is headquartered in New York, confidentially filed for an IPO in December 2023 but postponed the deal as market volatility made conditions less favorable for new listings. That delay coincided with a broad slowdown in new offerings that followed the record-setting US IPO activity of 2021, when rising interest rates and market swings curbed appetite for new issues. Confidential filings allow issuers to prepare registration documents with regulators privately before committing to a public offering, keeping financial details under wraps until the filing is made public ahead of any marketing push.

General Atlantic is now returning to the market as US IPO activity has strengthened and investor appetite for new offerings has improved. The rebound has included the high-profile public listing of SpaceX earlier this year, which has helped encourage more companies across sectors to pursue IPOs. A completed listing would place General Atlantic among the relatively small group of publicly traded alternative asset managers, a cohort that includes Blackstone, KKR, Apollo Global Management, and TPG, which went public in January 2022.

General Atlantic is tapping JPMorgan Chase to lead the offering, alongside Morgan Stanley and Goldman Sachs, according to Reuters.

Founded in 1980, the global investment firm specializes in providing capital and strategic support to high-growth companies. It is best known for growth equity, a strategy that typically targets established businesses with significant expansion opportunities while remaining below the scale or maturity of traditional buyout targets. The firm is widely recognized as a pioneer of the growth equity approach, which occupies the middle ground between venture capital and leveraged buyouts in the private markets spectrum. Listed alternatives managers have used publicly traded shares over the years to fund acquisitions and reward teams, and going public would subject General Atlantic to the quarterly disclosure and reporting requirements that come with public ownership.

General Atlantic has approximately $130 billion in assets under management and has invested more than $121 billion since its inception. Led by Chairman and Chief Executive Officer William E. Ford, the firm deploys capital across sectors including technology, healthcare, financial services, climate, and consumer. Because the filing remains confidential, details such as the offering's size, valuation, and timing have not been made public and would emerge only if the firm proceeds to a public filing.

With offices and teams across 21 global locations, General Atlantic has backed hundreds of companies. Its investment history includes major technology and consumer names such as Alibaba, Facebook, Airbnb, and Uber.