What percentage of follow-on issuance in 2024 was related to sponsors?

In the context of follow-on issuances, the percentage related to sponsors represents a significant aspect of the overall equity capital markets landscape for any given year. If the correct percentage is approximately one-quarter, this indicates that sponsors are actively involved in a notable portion of follow-on offerings, reflecting their influential role in the capital markets.

This level of involvement suggests that sponsors are utilizing follow-on offerings as a strategic tool to recapitalize or refinance their investments, particularly in times of market stability or favorable conditions for equity issuance. Such action demonstrates the confidence sponsors have in the value of their portfolio companies and their desire to raise additional capital for future growth or debt reduction.

Furthermore, this statistic can also illustrate the broader dynamics within the ECM environment, including the relationship between sponsors and underwriters, the impact of economic conditions on sponsor activity, and how these factors collectively influence market trends.