Anthony Hughes is senior reporter, equities, for IFR where he covers developments in US equity capital markets. He previously worked as a financial reporter and columnist for the Australian Financial Review and, prior to that, as investment editor at the Sydney Morning Herald.
Private equity Carlyle Group cut two of its biggest public stock holdings via block trades last week, disposing of a US$700m stake in industrial and automotive paint maker Axalta Coating Systems and a US$367m position in government contractor Booz Allen Hamilton.
US Foods’ US$1.02bn float has highlighted an unlikely revival of US leverage-backed IPOs as financial sponsors take a more conservative approach to leverage and valuation.
Midland States Bancorp, the first US bank IPO of 2016, has lowered its valuation sights ahead of pricing post-close Monday.