The firm intends to use the proceeds it receives from the global offer to reduce its net debt to £150m. Gartmore is currently owned by private equity firm Hellman & Friedman.
Gartmore says the move will enhance the company’s profile and status with existing and potential clients and strengthen its ability to attract and retain talent.
As at September 30, 2009, the Gartmore Group had £21.8bn of assets under management invested across three core product areas – a range of mutual funds making up £11.9bn, a range of alternative funds making up £3.8bn and a number of segregated accounts managed on behalf of large institutional clients making up £6.1bn.
Gartmore chief executive Jeffrey Meyer says: “We believe that a stock market listing now is the logical next step in Gartmore’s development. It will raise the profile of the group and provide benefits for our clients, shareholders and current and prospective employees.
“The fundamental prospects for our business are attractive and we have a clear strategy in place to deliver further growth.”