Public over Private

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Listed private equity companies have come under pressure. The sector touts a good story, and forecasts a strong IPO market in 2026, whereby new companies are listed on the stockmarket in an “initial public offering”. Yet the businesses behind them, which hold large stakes in private companies, are not yet celebrating.

iShares Listed Private Equity ETF versus the World Index

Source: Bloomberg

The top private equity companies may have seen their best days this cycle. They have struggled to raise new funds, and many are stuck with holdings they struggle to sell at satisfactory prices. The business of private equity, which has boomed in recent years, seems to have hit a wall.

Leading Listed Private Equity Companies

Source: Bloomberg

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