Proceeds from U.S. private equity and venture capital initial public offerings were down 81% and 59%, respectively, from the first quarter a year ago. In its quarterly IPO review, Renaissance Capital said only five private equity-backed companies went public in the first quarter of 2015, down from 16 a year ago and down from 20 last quarter. “Instead of an IPO, firms have also taken advantage of alternative options through sponsor-to-sponsor exits and corporate sales,” Renaissance noted.
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