Private Equity Sells $20.5B In Follow-On Offerings In Q1

Apr 11 2013 | 12:11pm ET

Private equity firms spent much of the first quarter selling off a record amount of stock in follow-on offerings.

Buyout shops sold $20.5 billion in shares during the first three months of the year, the highest quarterly pace on record, according to Dealogic. Also record-breaking was the proportion of follow-on offerings that p.e. firms were responsible for in the quarter, 51%. And the 50 offerings were twice as many as in the first quarter of last year.

The sales helped push p.e. firm's U.S.-listed stock ownership down by 91% to about $80 billion, according to Ipreo.

The sales come amidst a major market rally that has pushed the Standard & Poor's 500 Index up more than 10% this year. Among the biggest deals of the quarter were Bain Capital and Kohlberg Kravis Roberts' sale of $1.8 billion in HCA Holdings shares and Apollo Global Management's unloading of $1.5 billion in LyondellBasell Industries shares.

Nor do things appear to be slowing: Apollo will price a $1.5 billion sale of Realogy Holdings shares today.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR