(Bloomberg) -- Astorg, a private equity firm that manages €22 billion ($24 billion) in assets, is working with Evercore Inc. to explore various financing options as the company prepares for a generational change among its leadership.

The Paris-based firm is assessing funding options, including scenarios that combine debt and equity, it said in an emailed statement Friday. Astorg said an outright sale isn’t being considered.

“We seek to restructure our capital with two main objectives in mind: support the generational transition of management and capital, and fund the growth of our business,” the firm said in the statement.

Alternative-asset managers have engaged in both consolidation and minority-stake sales as ways of creating liquidity for aging founders. Last month, Paris-based Wendel acquired a controlling stake in mid-market private equity firm IK Partners. Before that, Bridgepoint Group Plc agreed to acquire infrastructure investor Energy Capital Partners, while CVC Capital Partners struck a deal for DIF Capital Partners.

Astorg, founded in 1998 as a spinoff from Suez Group, focuses on buying majority stakes in health-care, business-services, software, technology and industrial companies, its website shows. The firm is led by Chief Executive Officer Thierry Timsit.

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