Oaktree Said to Weigh Sale, IPO of £2 Billion Wealth Firm Utmost

Oaktree Capital Management is exploring options for Utmost Group Plc, a UK-based provider of insurance-based wealth management solutions, including a sale and an initial public offering in London, according to people familiar with matter.

The buyout firm is close to selecting advisers to steer a potential transaction, the people said, who asked not to be identified because the deliberations are private. A deal could value Utmost at about £2 billion ($2.7 billion), they said.

Deliberations are at an early stage and could still change, the people said. Representatives for Oaktree and Utmost declined to comment.

Founded in 2013, Utmost ...