This is from the LHC quarterly update - i thought the below was interesting for a trade. Most say don't buy from private equity... but if you're buying from private equity to sell to passive...

"During the year, the Fund established a trading position in Ventia Services, which we discussed in the March 2023 Quarterly Investor Report. Ventia, which we consider to be a reasonable business, listed on the ASX in November 2021 at a heavily discounted price following a problematic IPO process, ownership structure and tricky equity markets. We expected the private equity owners to continue to sell down and the resulting increase in free float to result in large index inclusion and up-weightings, forcing passive funds to buy the stock. We bought from the private equity owners and sold to passive funds several times, and profits made from this series of Ventia trades made a significant positive contribution to the Fund’s annual return."