2026年将是打新超级大年？从OpenAI到“美国两房”，万亿“私募库存”待上市！

Group 1 - Investment bankers are urging private equity firms to continue driving the IPO market recovery in 2026, following a strong momentum in 2025 where private equity-backed IPOs reached their highest level since 2021 in Q3 [1][2] - A range of large companies across various sectors are expected to go public in 2026, with significant potential transactions globally, including Jio Platforms Ltd. in India, which could be valued at $170 billion [2] - In 2023, IPOs (excluding SPACs) raised $146 billion, still below the pre-pandemic average, indicating that large-scale listings could help surpass this threshold if market conditions are favorable [3] Group 2 - The performance of private equity-backed IPOs has been mixed, with some companies like Verisure Plc showing positive stock performance, while others like SailPoint Inc. and NIQ Global Intelligence Plc have seen significant declines [6] - The number of private equity-backed IPOs in 2025 is projected to be among the lowest since 2010, with only 137 companies expected to go public [6] - Investment banks are actively promoting new projects to companies, with major firms like Blackstone announcing their largest IPO plans since 2021 [6] Group 3 - The year 2026 is anticipated to be significant for private equity-backed companies entering the IPO market, depending on valuation agreements between investors and asset owners [7] - Private equity firms are utilizing various methods to return capital to investors, including selling assets to continuation funds, providing greater flexibility in deciding when to go public [8] - In Europe, the IPO activity is gradually increasing, although the region still lags behind others globally, with companies considering moving to U.S. exchanges for better valuations [10] Group 4 - High expectations remain for private equity-backed IPOs, but they may be overshadowed by the potential listings of major companies like Fannie Mae and Freddie Mac, as well as high-profile tech firms like OpenAI and Databricks [11] - The private market's capacity for funding billion-dollar startups is uncertain, but the public market is believed to have a much larger capacity [12] - Factors driving market activity recovery include attractive stock valuations, international capital inflow to Asia, and innovation in sectors like technology and healthcare [12]