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Investment Banking Fee Study

Fee Event Dramatization MegaBank A is approached by a client to help them advise on a purchase of their competitor funded by a mix of debt and externally issued equity. My god, this will be a $50 billion dollar deal. 10 basis points means a $50 million dollar fee! – Coverage/M&A banker They

Capital Structure of an LBO

First published on the BSPE blog By Dorina Barna and Boris Mihaylov LBO stands for Leveraged Buyout and refers to the purchase of a company while using a significant amount of debt to finance the transaction. Usually, the assets of the company being acquired and sometimes those of the acquiring company are

Internet Platforms and Network Effects

We talked quite a bit about the advantages and disadvantages of platforms over traditional pipelines, but there is one aspect that was glaringly absent. Network effect is a critical element of any platform, not only does it allow platforms to grow rapidly, but also allows it to defend itself against

Overview of the Leveraged Finance business

First published on the BSPE blog By Konstantin Barakos Introduction What is Leveraged Finance? It’s actually fairly straightforward – the answer is right there in the name! Leveraged finance describes a corporate acquisition financed through leverage. End of story; roll credits. Ok, since I brought up the term credits, I should mention that Leveraged Finance participants

How Platforms Disrupt Different Industries

Through a cursory glance at the different internet platform companies, we see that although platforms permeate all industries, some industries are more disrupted than others. Certainly, platforms are superior to pipelines in some aspects, but the advantage does not persist equally in all industries. What makes certain industries more vulnerable

Impact Investing and Decarbonisation

Writer: Hauk Hofseth Ever since Thomas Newcomen invented the first coal-powered steam engine in 1791, combustion of coal, oil and other fossil-based fuels has contributed to climate change. About 75% of total greenhouse CO2 emissions is a result of burning fossil fuels,[1] which in turn makes up about 80% of global

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