Commercial-property brokerage firm Cushman & Wakefield on June 21 announced that it has publicly filed a registration statement to go public, two years after being acquired by Fort Worth and San Francisco-based TPG.
The number of shares to be offered and the price range for the proposed offering have not yet been determined.
Morgan Stanley, J.P. Morgan, Goldman Sachs & Co. LLC and UBS Investment Bank will serve as joint book-running managers and representatives of the underwriters for the offering. Barclays Capital Inc., BofA Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and William Blair & Company L.L.C. will also serve as joint book-running managers for the offering.
Prior to the closing of the proposed offering, Cushman & Wakefield will restructure from DTZ Jersey Holdings Limited, a Jersey limited company, the entity that filed the registration statement today, to a public limited company incorporated in England and Wales, to be named Cushman & Wakefield plc.
TPG Capital purchased Cushman & Wakefield Inc., the largest closely held commercial-property brokerage firm, for about $2 billion including debt, with plans to merge the company with its DTZ unit.
The new company will operate under the Cushman & Wakefield brand.