Vistra Said to Draw Baring, Carlyle Bids in $900 Million Sale

Vistra Group Ltd., the trust and custodial services provider that filed in March for a Hong Kong initial public offering, has drawn bids from private-equity funds, people familiar with the matter said.

Baring Private Equity Asia, Carlyle Group LP and CVC Capital Partners are among second-round bidders for Vistra, two people said, asking not to be identified because the talks are confidential. Vistra’s owner IK Investment Partners is seeking about 800 million euros ($900 million) for the firm, the people said.