Warburg Pincus CEO Perlman says investors view public markets as one correlated bet

Warburg Pincus CEO Jeffrey Perlman stated that global investors increasingly view public markets as a single, correlated bet, which is pushing capital toward private assets. Perlman noted that the IPO market is structurally broken for buyout exits, and most recent holdings have been sold to corporate buyers. Furthermore, Perlman said Warburg's clients want AI applied across traditional companies, not just a bet on the next large language model (LLM).