The amount of cash raised from initial public offerings of private equity-backed companies nearly halved this year as the global financial crisis continued to restrain investor appetite.
Worldwide, companies backed by private equity raised $20.5bn through 103 IPOs between January and November, according to data released today by professional services firm Ernst & Young – significantly down on the $38.6bn raised through 116 deals in 2011.
“Lowered investor confidence on continued concerns around macroeconomic growth equated to lower volumes of IPOs in 2012,” said Jeffrey Bunder, global private equity leader at E&Y.
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