Saturday, 20 December 2014
Last updated 18 hours ago
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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.