In a long-awaited move, private equity firm Kohlberg Kravis Roberts & Co (KKR.UL) has filed to list $2.2 billion worth of shares on the New York Stock Exchange.

It is a move forward in their ingoing plans to become a publicly traded U.S. company.

The New York based company has been planning for two years to copy their rival, Blackstone Group LP (BX.N), but market turmoil kept them back until now.

KKR, which is the symbol by which it will be listed on the NYSE, has said a public listing would allow them to have a more permanent capital base, use stock to retain and attract staff, and have a currency to use in making acquisitions.

KKR said it would list 204.9 million common units worth about $2.2 billion in a filing with the U.S. Securities and Exchange Commission. The timing of the offering, which would be the largest of the year so far, was not disclosed.