IPO shutdown forces PE firms to seek new exits

Confronted by a near-shutdown in IPO markets, private equity firms are having to source other investments with better exit prospects, with secondary market buy-outs and dividend recapitalisations tipped as key options. Speaking about the outlook for Asia-Pacific private equity at an event organised by Ernst & Young and Remark last Thursday, PE executives cited examples of Chinese firms delisting from the US via privatisation as proof that IPOs could no longer be relied on as a…