Most finance undergrads have heard that the ideal path is going from a top-tier investment bank to a top-tier private equity firm, making partner and then making tens of millions of dollars. Actually, undergrads only think about the first two steps – Morgan Stanley M&A à Blackstone Private Equity They do
Asset Management
Backseat Drivers: Private Equity and Shareholder Activism
By Martin Loinig Initially posted on the BSPEC blog For background on shareholder activism, refer to our posts on activist defense and targeted companies Historically speaking, the relationship between private equity funds and activist hedge funds has been shaped less by collaboration and more by confrontation. Activist investors, holding minority stakes in public companies, often
Interview with: Private Debt Analyst
What is Private Debt? Think Private Equity, but in debt instruments. Private Debt invests in privately placed bonds that are closely negotiated between the bond issuer and purchaser. Debt structures are often highly tailored to the needs of the issuer. Due to this closed negotiation process, private debt investors often can "peek under
Benchmarking & Performance Evaluation for Mutual Funds
The Mutual Fund Conversation Living in a city with a high cost of living makes it difficult to save money. Eventually, most young professionals start earning more as they move up in their career progression or become more responsible for spending/stop living paycheque by paycheque and start investing to grow their
Block Trades/Block Sales
Asset Management Trends
Asset management as an industry is becoming increasingly important for a variety of reasons. The world is getting wealthier, driven by growth in emerging markets. The burgeoning middle class in China and India mean that millions of people are purchasing wealth products, while new dollar millionaires and billionaires look for high
Activist Shareholder Defense
How Does the Market React to Activist Shareholders Even if the returns on stocks with activist campaigns are not necessarily always positive, generally the market reacts positively to initial news of an activist investor taking a sizable position in the stock. Although activist campaigns will disrupt operations as management will attempt
Activist Shareholders and Targeted Companies
Who Are Activist Shareholders or Investors Most investors are "passive investors"1. Passive investors, in the context of activist shareholders, are buy-side accounts (asset managers) that do not agitate for change by bringing up motions at shareholder meetings. Generally, when an institutional investor invests in a company, they are making a bet