Cushman & Wakefield could close IPO as early as Q3: report

But sources say an IPO would also mean layoffs in the lower echelons of the company

From left: Brett White and John Cushman III
From left: Brett White and John Cushman III

From the Los Angeles website: Looks like the stars are finally aligning for Cushman & Wakefield. The commercial brokerage has taken the first steps in seeking its long-rumored IPO after months of bulking up its teams in Los Angeles and New York with high-profile poaches.

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The brokerage, under parent company TPG, has begun meeting with banks about a potential IPO to list as early as the third quarter of this year, sources told Bloomberg. Insiders — including Cushman’s own execs — have long speculated the probability of a public offering. [more]