Private stock companies reform out exit strategies with the closure of criticism of the public subscription market

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The stock groups repair their exit strategies after accepting them unlikely that the recession period will end for a year in primary public offers soon.

Executive officials at the annual European Industry Conference said they were prioritizing other options to get out of their investments, including companies’ dismantling to sell them in smaller parts or sell companies to themselves through “continuing boxes.”

“I cannot remember in 20 years of investing in growth shares, and I have no Public subscription “The open window for this type of long period of time,” said Gabriel Kaylao, co -chair of General Atlantic.

Size companies You have Accumulate Of the assets of aging and unproductive assets, as high interest rates and market turmoil made it difficult to float companies or selling at acceptable prices, which led them to find other ways to restore criticism to their investors.

The volume of subscribers -backed subscriptions has decreased since 2021, with only nine across Europe and the United States this year compared to 116 in the same period in 2021, according to Dealogic.

The head of the private shares of a large international company said that the subscription subscriptions that were now classified behind the disintegration and sales of minority shares as an exit option.

And they said: “The public subscription is the number three in the list these days.”

In January, Permira sold a minority stake in the luxury company Golden Goose, at a value of 2.2 billion euros after giving up the public subscription. EQT, which was said last year is considering a list of her work in Nord Anglia, eventually her older box was independent by selling to a consortium that included one of his latest boxes.

The sellers were increasingly securing sales by providing greater protection to buyers against risk, including by profits – as part of the price is associated with future performance. They added, “The tool box is really opened now.”

Executive officials were hoping that the election of US President Donald Trump would revive public subscriptions, but instead his policy fluctuated Capital markets closed For most potential exporters.

In March, Permira, Hilman and Faridman postponed the planned public subscription to the American software group, while Payne Capital and Senevin did the same while inserting them into the German pharmaceutical company Stade.

The head of the private stocks in a great global asset manager said in the wake of Trump Tariff ads on April 2The menus were “gold”.

“The perception of its strength, which was supposed to be compared to how it was transformed.”

They added that the structural changes in the markets make it difficult to include companies, including the rise of funds circulating on the negative stock exchange that usually does not buy subscription subscriptions.

“The public subscription market” for all intentions and purposes is closed to private stock companies. “

He said that the secondary market-where the acquisition companies sell assets for themselves with the so-called continuity funds, or that investors in private stock boxes sell their shares in these funds-become “great help”.

The continuous vehicles in popularity have increased in recent years as a means of re -criticism to the financing of investors. Private capital companies 75 billion dollars of assets were sold In the secondary market last year, an increase of 44 percent from the previous year, according to Ceffries. The vast majority of this went to continuing boxes.

Some executives have been positive about the possibility of the operating subscriptions to return.

“Things can change very quickly,” said a major European purchase company. “We have works in our pipeline that we think about subscriptions within nine or 12 months. It is about preparing well and going to it when you can.”