Jupiter takes first step in possible future IPO

The Financial Times reports Jupiter, which is led by Edward Bonham Carter, has asked creditors to approve an amendment to its £375m loan documents, enabling it to become publicly listed. Jupiter, which is majority owned by its managers such as Philip Gibbs and Tony Nutt, paid Commerzbank £740m to buy it out of its holding in 2007. The managers were backed by US private equity group TA Associates, which has a minority stake. Changes to Jupiter's loan documents will cost it a fee equivalent to 100 basis points on its debt package, which it raised from a consortium led by HSBC and Roy...