Buying Without Selling

I was on CNBC earlier this morning, to discuss the stunning dearth of buyout-backed IPOs so far in 2007. We’ve only had 29, which is the lowest tally for this point in the year since 2003. Moreover, there have been ZERO in September — a shutout that will only be broken if Duff & Phelps manages to price later this week.

You can watch the TV spot here, and I’ve posted some aftermarket performance data on the precious 29 companies that have managed to price: Buyout Backed IPO.xls (courtesy of Thomson Financial). Note that buyout-backed IPOs continue to underperform non-buyout-backed IPOs.

It’s also worth repeating a point made by Andrew Ross Sorkin during out TV spot, in which he said that sponsor-to-sponsor (or secondary) buyouts also are on the decline. In other words, buyout holding periods are getting indefinitely longer…