TPG has hired JPMorgan Chase & Co. and Goldman Sachs Group Inc. to underwrite its planned initial public offering, according to people familiar with the matter, moving the private-equity powerhouse closer to a milestone it has flirted with for years.

The Wall Street Journal reported in June that TPG was in the early stages of weighing a public listing that could value it at some $10 billion.

The firm, which at the time was considering both a straightforward IPO and a merger with a special-purpose acquisition company, is moving forward with the former and has been drafting paperwork it plans to file confidentially with regulators in the coming weeks, some of the people said. That could set up the shares to start trading by year-end.

“We continue to evaluate strategic alternatives and have nothing to announce at this time,” a TPG spokesman said in a statement.

An expanded version of this report appears on WSJ.com.

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