A top banker at JPMorgan Chase said that the initial public offering (IPO) market for companies backed by private equity firms is heating up.

Keith Canton, JPMorgan’s head of Americas equity capital markets, said the market for such companies is “very much open,” as firms seek to lower their debt loads or provide existing investors an opportunity to cash in, Bloomberg reported Wednesday (Oct. 2).

“The deals pricing in the next 10-15 days are largely sponsor-backed assets,” he said in a Tuesday interview with Bloomberg. “That gives us a higher degree of confidence for volumes next year just given the number of high-quality assets that sit within sponsor portfolios.” READ MORE