Certainly, this article in the NY Times seems to think so, based in no small part by the successful acquisition of Aventine Renewable Energy for $66m by Morgan Stanley which is allegedly now worth $750m.

Since going public, Aventine's performance has not been spectacular - far from it. Business Week has picked up on this. See their article IPOs to approach with caution.

NYSE listed Aventine is currently trading at $39.18.