September appeared in full force, pricing 16 IPOs for $30.7B, well above the year ago period’s $4.0B from 22 debuts. Alibaba’s IPO accounted for the majority of the month’s proceeds, raising $25.0B and making it the largest IPO ever. Healthcare continued to dominate the market in terms of deal count, as eight deals raised $626.2M,led by Civitas Solutions ($198.9M). Meanwhile, the US-Based 25 Index outperformed broader markets in September, gaining 3.6% against the S&P 500’s 1.5% loss, as market participation picked up following a mostly quiet summer. Additionally, the International 25 Index advanced 4.9%, helped along by Alibaba’s 38.1% first-day pop.