Clear Street said to finalize pre-IPO raise at $12B value, Bloomberg reports

Securities and derivatives broker Clear Street has closed an investment round at a $12B valuation, paving the way for an initial public offering, according to a person familiar with the matter, Bloomberg’s Bernard Goyder and Bailey Lipschultz report. The equity part of the round was led by fund managers Baillie Gifford and SBI Holdings, people with knowledge of the transaction said. On the debt side of the fundraise, BlackRock (BLK) is among the investors in the senior notes, one of the people said. Goldman Sachs (GS) and Morgan Stanley (MS) are advising on the potential IPO, and UBS (UBS) is also working on it, the people said.