Although the private equity industry has been under pressure in recent years, Blackstone pointed out in its letter that the long-term downturn in the leveraged buyout and IPO markets is beginning to ease.
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BlackRock stated in the letter: "We are seeing improvement in the investment exit environment, with IPO activity increasing," including the IPO of SpaceX. "We expect this will support asset monetization within the BXPE portfolio." (Bloomberg)
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