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.
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
By Christopher Khoury and Eric Peghini Initially posted on the BSPEC blog Investors allocate capital with Private Equity Firms in order generate a high rate of return on their invested capital. However, when there are several investors and a separate manager, how much of the profits from investments are investors entitled to?
By Davide Martellozzo, Simone Bertani and Leonardo Astegiano Initially posted on the BSPEC blog Introduction to CLOs Collateralized Loan Obligations (henceforth, CLOs) have become increasingly popular in the post-crisis era because of some intrinsic features such as strong credit performance and appealing risk-return profile, making them an attractive asset class to the eye of
There is a routine answer to this question - a company with large stable free cash flows and low levels of debt. This is usually followed by: How Does an LBO Create Value for Financial Sponsors? Debt paydown, EBITDA growth and multiple expansion. Debt paydown/repayment is easy to understand - if an LBO
When someone brings up an LBO, people immediately associate this with investment banking and private equity. LBOs are associated with very advanced financial modelling and students sometimes get scared when the concept comes up. In reality, while investment bankers do run LBO models on a very regular basis, it is one of
Our previous Canadian Mergers & Acquisitions roundups can be found here. Our previous global M&A roundups can be found here. Target: Hengda Real Estate Group Industry: Real Estate Acquirer: Multiple buyers Target: Hengda Real Estate Group Size: 9.1 billion Consideration: Cash Sell Side Advisors: Undisclosed Buy Side Advisors: Gram Capital Legal Advisors: Undisclosed On November 6th,