HPS Investment Partners, the private credit firm carved out of JPMorgan Chase & Co. in 2016, confidentially filed for an initial public offering, according to people with knowledge of the matter.

The firm submitted its registration to the US Securities and Exchange Commission more than a year ago, said one of the people, who asked not to be identified discussing information that isn’t public. As a result of that filing, HPS is positioned to pursue a listing if equity capital markets become more favorable, said another of the people.