The exit window in the UK appears to be opening- and I’ve even seen comments that so many firms are lined up to IPO in the first part of the years that it could cause a glut- and actually dampen investor interest.
“Apax and Hicks, Muse, Tate & Furst Inc. have sold an additional 34% of their stake in Yell.
Apax and Hicks Muse directly invested about £600 million in the original purchase and funded the rest through debt, according to analysts. With this week’s placement — following last summer’s successful IPO — the private-equity firms saw an aggregate net return of about £1.4 billion, or more than double the initial investment.” WSJ.com
And in the US, Google has shortlisted the underwriters for its $4bn IPO.
Jason Ball 