The Aveon Group announces IPO terms

The Aveon Group L.P., an investment firm formed to acquire interests in the managing members of a group of hedge funds, announced terms for its IPO on Wednesday. The Marblehead, MA-based company plans to raise $236 million by offering 15.7 million shares at a price range of $14-$16. At the mid-point of the proposed range, The Aveon Group L.P. will command a market value of $236 million. The Aveon Group L.P., which was founded in and booked $58 million in pro forma sales last year, plans to list on the NYSE under the symbol AVO. J.P. Morgan, Jefferies & Co. and BMO Capital Markets are the lead underwriters on the deal, which is expected to price during the week of February 7.