Capital Markets Lawyers Wait for Windows of War Calm to Pounce
Bob Hayward discussed with Bloomberg Law the narrow window of favorable geopolitical conditions that drove the recent surge in U.S. IPO activity. “You have to be prepared and ready to move at a moment’s notice,” he said, an approach reflected in Kirkland’s role advising on two of last week’s five largest IPOs.
Kirkland advised Madison Air on the largest U.S. IPO of 2026, a $2.5 billion offering priced at the top of the range, marking the largest primary only IPO ever by a U.S. industrials company and the largest U.S. industrials IPO in nearly 30 years. The Firm also represented Aevex in its $320 million IPO, completed through an accelerated roadshow and followed by a 35% first day gain.
