Investment Banking

As IPOs dry up, banks look to private markets deals for wins

Private markets are set to make up a larger slice of fees with fewer IPOs in sight

Private market deals are expected to make up a third of ECM revenue
Private market deals are expected to make up a third of ECM revenue Photo: Richard Baker/In Pictures/Getty Images

Europe's unicorns are providing a lifeline for deal-starved investment banks.

As IPOs slump, fees from advising on private capital markets deals in Europe are on course to make up a third of overall equity transactions revenue this year, according to senior dealmakers.

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