Search Funds: Entrepreneurship through Acquisition Private Equity by Bocconi Students PE Club - April 30, 2019April 30, 20190 By Massimo Tiozzo Netti, Francesco Carraretto Initially posted on the BSPEC blog Introduction Back in the ’80s, some ambitious entrepreneurs designed a miniature model of the typical private equity fund. Forget about pools of cream-of-the-crop professionals: search funds are a businessperson’s stepping stones to achieving their pipe dream position as a CEO. Although
Introduction to Project Finance Investment Banking Infrastructure by Matt - April 25, 2019April 25, 20190 Project Finance Investment Banking Project finance is one of the most popular but least understood groups in investment banking. Sometimes PF is a standalone product group and sometimes PF is under the corporate banking umbrella (as there is a large lending component). Closely tied to project finance may be an infrastructure
Canadian M&A Roundup – Q1 2019 Mergers & Acquisitions by Katherine - April 23, 2019April 23, 20190 The first quarter of 2019 yielded a total announced Canadian M&A deal volume of CAD $112.5B. Though total volume saw a slight 7.7% decline from $121.9B in Q4 2018, Q1 2019 is up from Q1 2018 by 28.1%, or approximately $24.7B. M&A Drivers Key drivers of M&A activity in Q1 include: Consolidation
Proposed Oil Pipelines in Canada Energy Infrastructure by Chayten Hansra - April 19, 2019July 13, 20190 Enbridge Line 3 Replacement Project Quick Facts/Overview Owner: Enbridge Throughput Capacity: 760,000 bbl./day[i] Start: Hardisty, Alberta End: Superior, Wisconsin Cost The project will cost $5.3B CAD in Canada and $2.9B USD in America.[ii] Existing Pipeline The Enbridge Line 3 began operating in 1968 running from Edmonton, Alberta through to Superior, Wisconsin with a capacity of
Woodstock for Capitalists: The Berkshire Hathaway AGM Culture by Matt - April 19, 2019April 19, 20190 To my understanding, Woodstock was an iconic rock concert that represented the Zeitgeist of America's hippie era. There was a re-do in the 90's where there ended up being riots - nonetheless, this is what Warren Buffett has coined the Berkshire Hathaway annual general meeting. As we approach the AGM for
US M&A Roundup – Q1 2019 Mergers & Acquisitions by Brian - April 14, 2019April 19, 20190 The M&A activities in the United States experienced an increase to USD 658.76B in Q1 from $472.5B in Q4, reflecting a 39.4% Q/Q increase, and a decrease from $815.28B in Q1 2018 due to greater market volatility, trade tension and the threat of Brexit. M&A Drivers A few drivers of M&A activity
Market Trading Comps for Investment Banking Trading Comparables by Matt - April 9, 2019April 10, 20200 Why Trading Comps Matter Trading comps are one of the primary tools of the investment bankers - not just a throwaway investment banking interview question. An industry specialist is supposed to know where things are trading and why, as well as what this value insinuates. For junior bankers (analysts especially), a lot of
Europe’s Private Equity M&A Roundup – Q1 2019 Mergers & Acquisitions by Bocconi Students PE Club - April 8, 2019January 10, 20200 By Camilla Cameroni, Atul Vyas and Felix Pörnbacher Initially posted on the BSPEC blog European PE M&A deal volume has been slightly declining towards the end of Q1 2019 and reported a decline of 8% YoY. Nevertheless, the phenomenon of megadeals is still evident on a volume as well as value basis.
Secondary Buyouts: Not Your Typical Second-Hand Shopping Private Equity by Bocconi Students PE Club - April 4, 2019April 19, 20190 By Eric Peghini Initially posted on the BSPEC blog “Everyone has access to information. We just know how to analyze it better.” This is the mantra of Billions protagonist Bobby Axelrod, a fictional hedge fund manager who’s ethically compromised fund breeds alpha like a wolf pack. However, putting aside any insider trading and market manipulation, is
Can Technology Sector Stocks Keep Rising? Technology by Matt - April 2, 2019April 19, 20190 What is a Technology Stock? In a previous post, we briefly discussed lofty valuations for tech companies. However, simple attribution analysis will show that these richly valued companies have been responsible for much of the growth in the 10 year bull market. Market pundits and talking heads that show up on