Great write-up. Impressive that Thoma will retain so much of the company post transaction.
Counter on the "we will see more IPOs from PE-backed companies."
The advantage of PE to PE transactions is liquidity for LPs in the near-term vs going through a 6 month hold period in an IPO for the fund to sell off their holding.
Great write-up. Impressive that Thoma will retain so much of the company post transaction.
Counter on the "we will see more IPOs from PE-backed companies."
The advantage of PE to PE transactions is liquidity for LPs in the near-term vs going through a 6 month hold period in an IPO for the fund to sell off their holding.
Good point.
I bet TB gets out within 18 months to a large degree. I’d have to see which fund they are holding this investment out of and how old it is
Great breakdown! Do you think we will see more of these boomerang IPO’s from the large group of tech companies taken private in ‘21 and ‘22?
I do. If you think about how the PE buyers make money I think it’s easier than finding ANOTHER PE to buy again at 3x