Private equity-backed companies raised around $17.2 billion through initial public offers (IPOs) globally with firms in India and China together accounting for $2.7 billion of the total capital raised during April-June 2011, according to a report.
A total of 45 PE-backed companies raised $17.2 billion in IPO proceeds, the highest quarterly total since the second quarter of 2007, Ernst & Young said in a report.
The figure is around double the volume of January-March period and up 24 per cent on a value basis.
PE-backed firms have raked in $31.1 billion in 68 separate IPOs so far this year, the report said adding that this year's total will exceed the $58.3 billion raised in 2007.
"Despite ongoing uncertainties in the markets, the momentum is clearly continuing to build across the IPO markets. This is giving PE sponsors an ever-widening window to exit holdings as investors move further out of the risk spectrum in search of companies with strong growth stories," said Ernst & Young Global Private Equity leader Jeffrey Bunder.
PE firms based in China and India raised $ 2.7 billion in nine deals in the second quarter, as compared to the $1.5 billion raised in six deals in the previous quarter, the report noted.