Current IPO Market Conditions (May 23, 2025) + The Role of Baby Boomer Business Exits

The IPO market in 2025 reflects a landscape of cautious optimism tempered by persistent macroeconomic uncertainty. After a challenging stretch in 2022 and 2023, activity is picking up, and investor confidence is gradually returning. But while the top end of the market still faces headwinds, an emerging force could invigorate the lower-tier IPO segment: the generational turnover of private businesses owned by Baby Boomers.