EY’s leaders are looking at backup plans for the firm’s split to address rising funding costs and a potential slowdown in growth that could imperil the rich payouts promised to partners, according to people familiar with the matter.

Leaders of the accounting powerhouse are talking to private equity firms as they draw up plans for the sale of EY’s consulting arm, the people familiar with the matter said. Options include using private debt, which would involve private equity funds in an initial public offering, or delaying the effort beyond the current target at the end of 2023, the people said.