P2P, in reverse

LBO initial public offerings have got a boost - just when needed. Fresh data shows European private-equity backed IPOs outperform other floats - contravening the conventional wisdom that such offerings tend to be duds. One can quibble with the result. But as the credit crunch forces private equity to tap public markets for exits, this shot in the arm couldn’t come at a better time. Blackstone’s plans to float Travelport, the travel services firm, in London by March could be one of the first in a...