Better than it looks

It looks like private equity firms are having a hell of a time getting rid of their investments. Some of the highest profile initial public offerings from the portfolios of buyout houses have been pricing way below their owners’ expectations. This week, Boise Cascade joined the ranks of Warner Music, Verifone, New Skies Satellites and other IPOs of leveraged buyouts that had to scale back their ambitions. The Madison Dearborn-backed paper products group slashed the expected proceeds of its IPO ...