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.
Healthcare payments company Cotiviti and sponsor Advent International opted to abandon a US$300m secondary sell-down just ahead of pricing late on Wednesday, a rare move that reflected disappointment with the price rather than a lack of demand.
Fixed annuity provider Athene might come with the backing of private equity firm Apollo Global Management, but it marks an elaborate departure from the parade of sponsor-backed companies put in front of investors in recent years.
Milwaukee-based Baird and Chicago-based William Blair last week scored a win against Wall Street banks that have been using their bigger balance sheets to win underwriting mandates and secure league table credit that the mid-market firms believe is rightfully theirs.