Sales of shares in publicly listed U.S. companies had their strongest showing last week in more than a year, as companies and some of their shareholders, such as private equity firms, capitalized on the risk appetite of stock market investors.
“Equity markets have regained some momentum and volatility has decreased, driving animal spirits on the buy side,” said Santiago Gilfond, co-head of Americas equity capital markets at Credit Suisse Group AG. He added that the sellers of stock have moderated their valuation expectations, helping to lure buyers.
Private equity firms are getting a piece of the action. Blackstone Inc last week sold a roughly $270 million stake in dating app Bumble Inc along with about $220 million position in human resources benefits platform Alight Inc , and this week, Providence Equity Partners sold a $333 million stake in software provider DoubleVerify Holdings Inc.