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Alternative Market Briefing

BDO: 2017 could be a comeback year for IPOs

Friday, June 30, 2017

Bailey McCann, Opalesque New York:

IPO activity has slowed down recently as companies opt to stay private longer or pursue M&A as an exit route. However, a new survey of GPs recently released by BDO suggests that IPOs may start to come back as we move into the second half of the year. BDO's Eighth Annual Perspective Private Equity is a twice-annual survey of GP views on the industry.

"There are several short-term factors helping to influence the decision to IPO or not-stocks trading at all-time highs, lower market volatility and pent-up sell-side demand for IPOs due to a less favorable environment in 2016," Lee Duran, partner, BDO's Private Equity practice, wrote in the report. " But there are also a number of longer-term factors impacting how firms are looking at the option and some common goals in what they aim to achieve with the capital secured through an IPO. These longer-term goals are telling a positive story about the state of the private equity industry, specifically, and about the rising optimism around economic growth in general."

Sales to strategic buyers are also likely to remain a top choice for GPs, although that process is often fraught with elongated timelines and a bit of uncertainty.

Seller's market - but for how long?

"2016 was a hard year for value buyers and 2017 doesn't look like it will be much easier," said Dan Shea, managing director at BDO said in an interview with Opalesque. "Valuat......................

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