• Carlyle, Partners Group list portfolio companies, defying political risks
• IPO market activity driven by Fed’s half-point rate cut
• How will US IPO market react to Presidential election?

The Federal Reserve’s bumper half-point rate cut in September has opened an unexpected pre-election window for sponsors seeking to list portfolio companies in an IPO.

Sponsors Carlyle Group [NASDAQ:CG] and Partners Group [SWX:PGHN] saw a window following the Fed cut and ran through it without a second thought to the next occupant of the White House, ahead of a 50/50 Presidential election on 5 November,

Carlyle listed Arizona-based aviation maintenance company StandardAero [NYSE: SARO] and Partners Group listed KinderCare Learning [NYSE:KLC] – a testament to the breadth of investor demand given both are very different companies.

Mergermarket‘s North American equity capital markets (ECM) senior reporter Cristiano Dalla Bona joins Dealcast host Julie-Anna Needham to discuss why the sponsors were able to shake off the political risks.

• Will Platinum Equity follow Carlyle Group and Partners Group’s example with an IPO for Ingram Micro?
• What was the mood in the US ECM like before the Fed rate cut?
• How will the IPO market react to different outlooks in 2025 depending on who wins the election?

All this and more in this week’s Dealcast