Insatiable investor demand has driven US PE-backed exit value to nearly 20-year highs, but it is unlikely this trend will hold up in 2022.
PE-backed IPOs broke annual records for both total count and value in just the first three quarters of 2021, a phenomenon driven by advantageous market conditions and technology, according to our latest Quantitative Perspectives Report.
There were 42 PE-backed US public listings in Q3 2021, contributing to the fifth consecutive quarter with increased listing totals. Total PE-backed IPOs, which amassed $90.9 billion, accounted for more than 42% of PE exit value in the third quarter.
The average value of a company taken public by a PE firm reached record highs, with the median valuation hovering around $1 billion—a peak that will be difficult to sustain, according to Andrew Akers, a quantitative research analyst at PitchBook.
Read more/Source: Pitchbook
