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Week in Review: IPOs, Pensions, and Cavanagh

IPOs have been the theme of the week, thanks to the notable offering from King Digital. While many criticized the company’s lack of profits, Dan Primack pointed out that flat profits are hardly an irregular occurrence for IPO’ing tech firms — many have gone public because of their growth potential and total available market, not their profits.

So far, the US has been home to 28% of the 211 IPOs this year — the highest percentage since 2000. The activity is so robust that some are beginning to wonder whether we are in the midst of an IPO bubble. Larger PE firms are paying particular attention, as their deal flow may be thinning with more companies going public than being sold in sponsor-to-sponsor transactions.

In other news, Michael J. Cavanagh may be heir to Carlyle not JPMorgan, pension funds join in fee pushback, and Facebook spends $2 billion on virtual reality firm.

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