(Bloomberg) -- HPS Investment Partners, the private credit manager carved out of JPMorgan Chase & Co. in 2016, has begun discussing an initial public offering with potential investors, according to people with knowledge of the matter.

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The firm could publicly disclose its financials as soon as next week, said some of the people, who requested anonymity to discuss confidential information. A potential listing could value it at $10 billion or more, the people said.

A representative for HPS declined to comment.

HPS, which had about $117 billion in assets under management as of June, has confidentially filed paperwork with the US Securities and Exchange Commission, Bloomberg reported last year.

Founded in 2007 by Scott Kapnick, Scot French and Mike Patterson, HPS is among the largest independent managers in the $1.7 trillion private credit market and has come to personify its remarkable rise over the past several years. In 2016, the firm bought itself out of JPMorgan in a complicated deal that valued it at close to $1 billion.

--With assistance from Davide Scigliuzzo.

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