Investment bank Perella Weinberg Partners is considering a spinoff of its asset management unit as it looks into the possibility of going public, people familiar with the matter told Bloomberg News.
The unit, which has roughly $13.5 billion under management, may separate from the parent company to its partners and management team. Tarek Abdel-Meguid and Aaron Hood lead the unit.
The spinoff could help Perella Weinberg take its investment bank public and achieve higher valuation as an advisory company, the people said. The company is weighing a number of options and has not yet made any final decisions, according to the report.
A Perella Weinberg representative declined to comment, Bloomberg reported.
