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Partners Group Private Equity Ltd on Thursday said portfolio company, KinderCare Learning Cos Inc, has been listed on the New York Stock Exchange following a $576 million initial public offering. The investment company managed by Partners Group Holding AG said KinderCare offered 24 million shares at $24.00 per share in New York on Wednesday, raising $576 million in total. Its shares rose 8.9% to $26.13 on its first day of trading, giving a market capitalisation of $3.00 billion. KinderCare is the largest US-based provider of early childhood education, with the capacity to serve more than 200,000 children across its 2,400 centres and sites. It is a parent holding company with operations conducted through wholly-owned subsidiaries, including KinderCare Learning Centres, Creme Schools, and Champions. Partners Group acquired KinderCare in 2015, and the company now represents 3.6% of its net asset value. KinderCare contributed around €4 million to Partners Group in distributions in June this year. Shares in Partners Group Private Equity were flat at 880.00 pence each in London on Thursday morning. Shares in Partners Group Holding were down 0.9% at fr.1,272.00 in Zurich. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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