Bloomberg reports that Moelis & Co. announced plans for an IPO yesterday in a regulatory filing, seven years after the veteran Wall Street dealmaker left UBS to start the firm. Profits doubled to $73m last year and surpassed those of rival Greenhill & Co. Goldman Sachs and Morgan Stanley are managing the stock sale, according to the filing.
Moelis, 55, and his partners are planning to cash in as peers have done previously, capitalizing on the firm’s growth and a rebound in the pace of mergers and acquisitions by companies worldwide. Robert Greenhill’s stake in his own company, which went public a decade ago, was valued at more than $300m before he evenutually sold most of it, while Evercore Partners President Ralph Schlosstein holds $60m of its stock.
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