<p>Q3 was another quiet quarter for the global IPO markets, and 2016 is on pace for the slowest year for IPOs since the global financial crisis. PE-backed deals have followed suit, with the number of deals down 45% from the second quarter.</p> <p>Despite the downturn, PE firms remain well-positioned as they have significantly reduced their inventories, and are much more able to wait out a period of excess volatility. There are signs that the window is reopening, with renewed optimism for a strong finish to the year and a solid start for 2017.</p>