The buyout firm is considering a partial stake sale. TaskUs has filed confidentially for a $1 billion U.S. IPO.

Blackstone Group Inc. is exploring options for outsourcing firm TaskUs Inc. including a partial stake sale or listing, according to people familiar with the matter.

The private equity firm is working with advisers to study strategic alternatives, the people said, asking not to be identified because the information is private. It is considering selling as much as a 25% to 30% stake in TaskUs at a valuation of as much as $3.5 billion, one of the people said, asking not to be identified because the information is private.

Blackstone has also been weighing a potential U.S. initial public offering of the business services firm and has already filed confidential registration documents with the Securities and Exchange Commission, the person said. The private equity firm could raise about $1 billion from the share sale if it moves ahead, according to the person.

Deliberations are ongoing and Blackstone hasn’t decided which path to pursue, the people said. A representative for Blackstone declined to comment.

TaskUs, founded in 2008 by Bryce Maddock and Jasper Weir, provides customer support, AI operations and content security services for companies. The firm, based in Santa Monica, California, has more than 25,000 employees with offices across the U.S., the Philippines, India, Taiwan, Mexico, Greece, Ireland and Colombia.

Blackstone in 2018 invested more than $250 million in TaskUs, which valued the outsourcing firm at more than $500 million. The private equity firm has a 60% stake, the person said.


Source: Bloomberg

By Baiju Kalesh