PRIVATE equity is under renewed scrutiny from buyside investors after two floats backed by
Shares in holiday website
Roadside breakdown service AA, also owned by Permira alongside
The disappointing performance represents another setback for the trio after they issued shares in Saga, which subsequently dropped on its debut.
"Private equity firms are ignoring the golden rule of flotations, that everyone has to leave the party with a balloon," said
The fall in eDreams is bad luck for Permira after
A Permira spokesperson said: "The companies listed in recent months are all high-quality well-invested businesses with strong management teams and we believe their full value will be demonstrated over the long-term. With the exception of the AA, our funds remain substantial investors in these companies and will continue to work with and support the leadership teams, alongside other shareholders, as they execute their growth plans."
STJ and CVC declined to comment.
BOTTOM LINE: Page 5 .
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