HPS Investment Partners, the private credit firm carved out of JPMorgan Chase & Co. in 2016, confidentially filed for an initial public offering, according to people with knowledge of the matter.

The firm submitted its registration to the US Securities and Exchange Commission more than a year ago, said one of the people, who asked not to be identified discussing information that isn’t public. As a result of that filing, HPS is positioned to pursue a listing if equity capital markets become more favorable, said another of the people.

HPS, which has been considering whether to follow rivals including Ares Management Corp. and Blue Owl Capital Inc. in going public, could be valued in a listing at about $8 billion, Bloomberg News reported this week. The firm has been working with JPMorgan and Goldman Sachs Group Inc. on the effort, the people said. The timing of a listing hasn’t been determined, they said.

Representatives for HPS, JPMorgan and Goldman Sachs declined to comment.

Read more: Banking Escapees Make Billions From Private Credit Boom

Other alternative asset managers that have plans for an IPO include General Atlantic, Bloomberg News has reported.

--With assistance from Ryan Gould.