Non-Deal Of The Week: Blackstone Pulls Out Of Two IPOs

This week, CFW highlights two non-deals as opposed to a deal. Private equity (PE) giant Blackstone has pulled out two of its investments from the IPO market. It just postponed a plan to float Merlin Entertainments Group on the London Stock Exchange, one day after dropping plans to list Travelport. This testifies to the impact of the equity market's correction on the exit prospects of PE. As long as markets are unsupportive, investors in PE are likely to prefer that PE wait for better valuations before exiting, especially for small companies that do not have resilient earnings growth nor low

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