The value of flotations by buyout-backed companies has increased by four times over the first thee quarters of this year handing a much-needed boost to private equity companies which need to return money to investors ahead of fundraising.

Buyout-backed initial public offerings raised $21.6bn across 94 listings in the first three quarters of the year, up from $5.2bn raised by 17 companies in the same period last year, according to a report by accountancy firm Ernst & Young.