The market for private-equity (private equity news) backed IPOs (IPO news) has gone through a lot of mood swings this year. Early on, there was near-euphoria as the overall IPO market led to great expectations. Then near-gloom set in as appetite for such products seemed to wane. So perhaps now is good time to take step back and take stock. Many would agree that the glass remains half-full.

Private equity-backed deals have indeed picked up. So far this year, 10 private equity-backed deals have been priced, raising $2.2 billion (Renaissance Capital). This accounts for 27 percent of the 37 total IPOs completed so far this year, notes Institutional Investor. Such deals have accounted for 40 percent of the total IPO-related proceeds raised this year. Last year, 22 of the 63 total IPOs, or 35 percent of the total number, were private equity backed deals. The after-market performance of this group has not been anything spectacular. Some were forced to pare back the number of shares to be sold. Some were priced below their initial targets. Through April, the 10 PE-backed IPOs were up 4.8 percent. 

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