Warburg CEO Calls IPO Market ‘Broken’ Even Amid Giant Offerings

The hurdle for US initial public offerings remains hard to clear for closely held companies even as SpaceX, Anthropic PBC and OpenAI dominate headlines with their outsize stock-sale plans, said Jeffrey Perlman, chief executive officer of private equity firm Warburg Pincus.

“The IPO market remains structurally broken for sponsors, and we have 60% fewer public companies today than we did 10 years ago,” Perlman said in a Bloomberg Television interview Wednesday. “It’s not to say that there aren’t going to be any IPOs — there should still be IPOs.”

ChatGPT creator OpenAI this week became the latest ...