Stifel Expert Insight Interview

Our CIO, Gautier Rousseau, was interviewed by Stifel Europe for for their Expert Insights series.

"Don't try to time your IPO. Focus on the story you're going to tell the market and whether you're ready to deliver on your plans" said Gautier Rousseau, Chief Investment Officer at Amundsen Investment Management.

The strongest listings begin with conviction, not timing. An IPO works best when management and shareholders see the public markets as a catalyst for value creation, not an exit. And with valuations in Europe still compelling and investor positioning low, there is real upside for the right companies.

🤝 That is why we work alongside great companies to shape an equity story they can genuinely deliver, and to connect them with the right investors who can own and support them well beyond listing day.

Great IPOs aren't a finish line. They're the start of a long-term partnership between a company and the investors who believe in its journey. 🌍

What really drives IPO success?

I actually see the IPO markets open at any time for any great company who is trying to raise capital or meet new
investors.

Capital will follow great companies and great stories, whatever the market conditions. Don't try to time yourIPO, rather focus on the story you're going to tell the market and if you're actually ready to deliver on your plans.

I say yes to an IPO when I have the conviction the management and its shareholders see the IPO as actually a catalyst of value creation, not an exit.
We want to make sure we have aligned interest and they see the public markets as a source of value creation.

Europe is an opportunity

We are actually very positive in Europe. We think the valuations are still compelling versus some other part of the world. And the positioning of other investors is quite low as well, meaning plenty of upside.

Beyond execution: what banks should do
As an investor, we expect from investment banks to bring us great investment opportunities, companies we wouldn't be able to find by ourselves. They should help those companies drafting an equity story that the company can deliver and execute. Help the company reaching out to the right investors, who can own and support this company over the years post IPO. It's a long-term game.