Download PDF Introduction Athleisure is the 21st century trend defined by the unique combination of athletic comfort and the fashion quotient of leisure apparel, creating a contemporary style of clothing. It mainly refers to apparel designed for athletic and fitness activities, as well as casual wear at workplaces or at Read more…
Download PDF Introduction For some simply a winter activity, the skiing business is one of the most structurally interesting and unique operations in the global leisure industry. Geographical scarcity, high cyclicality, weather dependency and capital intensity have motivated the once dispersed industry to consolidate in recent decades. Global players such Read more…
Download PDF Introduction Over the past decade, software became the number one business model for start-ups and the go-to solution for entrepreneurs chasing success. The asset-light business model characterized by recurring revenue and high operating leverage attracted investors from all over the financial markets. It was particularly attractive to private Read more…
Download PDF Introduction “Let it grow, let it grow, let it grow” – The Lorax The fundamental idea behind every profit-seeking firm is to take an initial investment and multiply it. One of the first challenges any daring entrepreneur must face on their journey towards unicornhood is how to secure Read more…
Download PDF Introduction Law firms are traditionally structured such that senior attorneys operate within a partnership, ensuring they “maintain independence of judgement” and protect against any conflicts of interest. This principle is codified in Model Rule 5.4 of the American Bar Association (ABA), which prohibits the sharing of legal fees Read more…
Download PDF Introduction Equity Capital Markets have suffered a prominent “drought” of IPOs in the past 3 years. In fact, IPO volume fell from 2,436 in 2021 to around 1,415 in 2022 and 1,298 in 2023, with global IPO proceeds falling by 42% in the same time frame. This slowdown, Read more…
Download PDF Introduction The benefits of competition are supported by a strong economic literature and are clear to most market participants. In competitive markets, firms are forced to maintain low prices in order to gain market share or avoid being undercut by rivals, ultimately benefiting consumers. Additionally, rivalry among firms Read more…
Download PDF Introduction 2025 concluded with the resurgence of megadeals (transactions valued over $5bn), as encapsulated by headlines such as Netflix’s [NASDAQ: NFLX] $82.7bn bid for Warner Bros. Discovery [NASDAQ: WBD]. In contrast to Q4 2024, total deal value has increased by 127.6%, with M&A activity rising by 19.1% for Read more…
Download PDF Introduction “Everything is connected; everything is a balance.” – The Giver In the 1850s, as technologies improved, the world underwent a drastic shift from a set of largely independent economies to a single, intertwined global economy. Ease of transport (through greater integration and innovation, such as steamships and Read more…
Download PDF Introduction Business Development Companies (BDCs) have recently experienced a boom, representing a major expansion in the US middle-market lending and private credit markets. In fact, BDCs now manage approximately $478bn and provide about a quarter of all “direct lending” to US companies. Their growth has bridged the gap Read more…
Download PDF Introduction Recent discourse on the US economy has centered on a supposed AI-driven bubble. Nearly $1.5tn is being poured into data centers, microchips, and R&D in 2025, despite vague, circular business models. This has led regulators and experts (e.g., Michael Burry betting against Nvidia [NASDAQ: NVDA] and Palantir Read more…
Download PDF Recently, long-time investor and market sceptic Michael Burry deregistered his hedge fund, Scion Asset Management, effectively stepping away from managing outside capital while remaining active in markets. Almost simultaneously, he re-emerged publicly with a series of posts and a Substack focused on what he characterizes as an AI-driven Read more…
Download PDF Introduction The creator of Ozempic, the American pharma giant, biotech start-up, bid after bid, boardrooms and courtrooms… Yes, as you’ve probably guessed already, this article will be talking about the unprecedented takeover battle in pharma sector. Novo Nordisk and Pfizer have put everything on the table in their Read more…
Download PDF Introduction ITV’s [LSE: ITV] future has been the subject of much speculation, having attracted interest from potential buyers such as CVC Capital Partners [AMS: CVC]. However, ITV’s silence was finally broken on November 7, 2025, in a 70-word statement. ITV told shareholders that Comcast-owned [NASDAQ: CMCSA] Sky has Read more…
Download PDF Origins and Historical Growth Beginning in the 1980s, Asian private equity (PE) was still in its infancy. It was supported only by a few hundred million dollars in AUM and had a heavy reliance on public funding. Private limited partners (LPs) were rare, and capital originated mostly from Read more…