The drought in the IPO market could be near an end, according to a big investor overseeing more than $70 billion.
Alan Waxman, the CEO and co-founder of Sixth Street, believes we're in about the seventh inning of the downturn in the IPO market as he sees a "real pickup" in the pipeline.
His firm has exploded in growth, invested in everything from direct lending to growth companies to real estate to insurance to sports.
The IPO market experienced a big lull over the past year as an aggressive Federal Reserve and recession fears diminished appetite.
If interest rates stabilize and the stock market maintains its 2023 gains, investors might be open to new issuance again.
Persons:
Alan Waxman, Waxman, CNBC's Leslie Picker .
Organizations:
Sixth, Spotify, Reserve