According to Renaissance Capital, the U.S. initial public offering market had the most first-quarter activity since 2000, with 64 firms raising a total of $10.6 billion. First-quarter activity in 2013 had 31 deals raising $7.6 billion total.
In terms of size, Santander Consumer USA was the largest U.S. deal of the quarter ($1.8 billion), followed by Rice Energy ($924 million) and EP Energy ($704 million).
Renaissance noted that the top 10 IPOs by deal size returned an average of 10%, below the average of all deals (25.3%). Oil and gas driller RSP Permian had the highest return at 48.2%, while helicopter service provider CHC Group had a -26.1% return from its IPO.