How PE Firms Got their Big LBOs Stuck in the IPO Pipeline

by Wolf Richter
Wolf Street

Now the ultimate “Smart Money” is waiting for a miracle.

The IPO pipeline is blocked and chock-full, after a dismal fourth quarter and an abysmal first quarter: in terms of deals, the worst since 2009; in terms of money raised, the worst since before the dotcom bubble. A fiasco with implications for the overall stock market.

So which IPOs are actually is stuck in that pipeline?

First thing you notice is that the VC-backed startups with the most dizzying valuations, such as Uber, Airbnb, Palantir, and Snapchat, are not in the IPO pipeline!

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