The Private Equiteer

PIPE Investments in Private Equity: Pouring Money Down the PIPE PIPEs are private investments made in public companies, with no shares offered on the open market. The recent SPAC boom saw many of these deals making headlines but PIPEs have been a mainstay in private equity for years. Private equity firms use this method opportunistically to invest in public companies, typically taking non-controlling stakes. Unlike in buyout deals, minority stakes limit two key return levers: leverage and...