Nasdaq Inc.

is teaming up with a group of banks to spin out its marketplace for shares of private companies, in a move that could help drive more deals to Nasdaq Private Market,the Wall Street Journal reported Tuesday. The banking group includes Goldman Sachs Group Inc.

and Morgan Stanley
as well as SVB Financial Group
parent of Silicon Valley Bank, the paper reported. Trading in such pre-IPO shares have increased in recent years as startups wait longer to go public, while their employees seek to cash out earlier and investors look to get in on a deal from the ground up. The deal is to be announced later Tuesday. Nasdaq Private Market will be shifted to a separate stand-alone company with investments from the banks. Nasdaq shares were up 2.2% premarket and have gained 33% in the year to date, while the S&P 500

has gained 13%.

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