This chapter begins with the evidences on the decision to exit the buyout structure together with the evidence on longevity of buyouts. It focuses on the operating and financial post-exit performance of buyouts. The chapter also focuses on analyses evidence on the importance of private equity (PE) backing on the post-exit performance. It presents evidence for the main London Stock Exchange board and AIM separately. The chapter examines all management buyout types, buyouts originating from various sources, and all exit routes from buyout structures. It reviews literature on exit routes together with four groups of determinants of buyouts' longevity. These are determinants associated with PE backing and characteristics of the PE firms and PE deals; buyout specific characteristics such as size, industry, and source of the buyouts; buyout type; and determinants related to the market conditions. Favorable market conditions provide prospects of higher market valuation and are therefore particularly important for initial public offerings exits.