Download PDF Introduction Since their inception in the 1700s, Christie’s and Sotheby’s have dominated the top-tier auction market, being the closest of rivals. Characterised by staggering sales, such as Leonardo da Vinci’s Salvator Mundi, ($450.3m, 2017) or Andy Warhol’s Shot Sage Blue Marilyn ($195m, 2022), the houses trumpeted high margins, Read more…
Download PDF Introduction With IPO window open again, markets start to see more deals coming in, however, the pace is different across regions. While in the US alone 10 large IPOs were priced the week of 8 – 14 September with more companies in pipeline, the European market is Read more…
Download PDF Introduction Switzerland has long been a symbol of financial stability as a nation whose conservative banking culture, strong currency, and independent central bank made it a safe haven in times of global stress. Yet beneath this reputation lies a paradox. The very institutions meant to anchor stability now Read more…
Download PDF Introduction With the rise of generative AI and the increasing importance of saving and sharing information across the globe, data centers have become an increasingly critical asset class for investors, constructors, and energy providers, as well as big tech companies and sponsors. Data Centers as an Asset Class Read more…
Download PDF Introduction The global mining industry has recently been under the spotlight with the announcement of a $53bn merger deal between Anglo American [LSE: AAL] and Teck Resources [TSX: TECK.A], the largest deal in the sector in over a decade. Mining remains a cornerstone of the global economy. From Read more…
Download PDF Introduction In the following article we will present a short in Datadog. We will give an overview of the business, dive into what the street is currently pricing in and then outline our contrarian view. In the appendix the most important additional material is attached. Business Overview Datadog Read more…
Download PDF Introduction The global toy sector stands at a crossroads, balancing tradition with rapid transformation. Indeed, once dominated in the 1980s by household names such as Transformers, G.I. Joe, Hot Wheels, Barbies and the iconic LEGO bricks, the industry enjoyed double-digit growth during the Western economic boom. At that Read more…
Download PDF Introduction 2025 began with cautious optimism about an uptick in M&A over the course of the year, however, it was challenged by higher than expected uncertainty around trade policies, geopolitical tensions and economic growth. Global M&A volumes declined by 9% in H1 2025 compared to H1 2024, while Read more…
Download PDF Introduction Renewable energies are derived from natural resources that can be replenished faster than they are consumed. They are considered renewable sources, also known as clean energy, as they produce minimal greenhouse gases, as well as emit low levels of pollution. Today, the main renewable energy sources are Read more…
Download PDF Introduction Just a few months ago in our previous articles, we highlighted the growing strength of European capital markets, the appeal of the U.S. for new listings, and India’s booming IPO market. Today, the landscape has shifted dramatically. Early 2025 showed some signs of recovery in the U.S. Read more…
Download PDF Intro The 2007 acquisition of Hilton by Blackstone stands as one of the most iconic private equity deals in history. Often referred to as the “best LBO ever,” the transaction blended strategic vision, operational overhaul, and a dose of good timing. Blackstone, already a powerhouse in private equity Read more…
Download PDF Introduction For the first time in decades, the private equity industry is experiencing a genuine contraction. According to Bain & Co., total buyout assets under management fell by 2% in the year to June 2024, settling at $4.7tn as exit pipelines narrowed and distributions failed to meet investor Read more…
Download PDF Introduction The U.S. housing finance system revolves heavily around government-sponsored enterprises (GSEs), and historically implicit and now explicit government guarantees through Fannie Mae [OTCMKTS: FNMA] and Freddie Mac [OTCMKTS: FMCC]. These entities have historically stabilized and facilitated mortgage lending by providing liquidity and guaranteeing mortgage-backed securities (MBS). However, Read more…
Download PDF Introduction Last year, we discussed how surging demand for data storage and processing – driven by streaming, e-commerce, and AI—propelled record investments in server infrastructure worldwide. There existed a large FOMO surrounding Data Centres and AI. Currently, with increasing investor pressure amid large Capex requirements and slow materialisation Read more…
Download PDF Intro The race to become the leading Electric Vehicle (EV) producer has just shifted into the next gear with the introduction of newer and faster charging systems. The race is now not only about range but also about which company can provide the fastest way to charge their Read more…