Deals
European Markets Are a Problem for Mid-Tier Companies, General Atlantic Says
- US markets seen as having better understanding of tech sector
- IPO candidates need some stability in capital markets
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Growth investor General Atlantic has “a whole list” of European companies in its portfolio that are considering initial public offerings in the US, where capital markets are more liquid and provide higher valuations, according to one of the firm’s co-presidents.
“The mid-market in Europe right now is a completely illiquid market,” General Atlantic’s Gabriel Caillaux said Thursday in an interview with Dani Burger and Manus Cranny on Bloomberg Television. “And that means that you have some wonderful companies who have listed themselves, trusted their capital structure to the public markets, and are now seeing no liquidity, no support on valuation, no support to do anything. That to us in Europe has been a real concern.”