Nationstar Mortgage, a Fortress Investment Group-backed residential mortgage servicer, raised about $233.33 million in its IPO after pricing about 16.67 million shares at $14 apiece, below its expected $17 to $19 price range. Nationstar intends to use the net proceeds from the offering for working capital and other general corporate purposes. Fortress did not sell any shares through the offering. Nationstar's shares closed their first day trading on the NYSE under the symbol NSM up slightly at $14.26.

Since the beginning of 2007, PE investors have sold or taken public 76 companies primarily involved in the Financial Services industry. Exit activity in the industry last year held strong from 2010 with 17 completed exits, compared to 21 in 2010. In 2009, there were only six. This year is off to a solid start with three so far. Much of the exit activity since the start of 2007 has consisted of smaller exits with 52% of the transactions being under $250 million.