The cooling of the once-booming IPO market has opened up new opportunities for robotics fund giant Pictet, which has benefited from a series of corporate actions in recent years.
The fund, which currently has assets of $9.27 billion (CHF8.14 billion) and is overseen by Peter Lingen, Dagal Tsang, Francesco Pigini and Stanislas Buiatti, has consistently mentioned in its market commentary its desire to find investment ideas based on mergers and acquisitions.
At the end of January 2024, the fund team said: “2024 could mark a return to M&A activity as strategic and private equity buyers with cash on hand waiting to be deployed may find opportunities in strategically sound companies whose valuations are still has not recovered from the 2022 downturn.”