Download PDF Introduction Undoubtedly private markets are inherently illiquid. When an investor wants to cash out of private funds, they must navigate ambiguous pricing mechanisms, information asymmetries, and reliance on intermediaries. In the usual course of events, liquidity in private market investments is realised through planned exits. However, unforeseen circumstances Read more…
Download PDF Introduction High levels of leverage have been common practice to increase returns since the genesis of the private equity industry, but as the industry evolves financial sponsors have come up with new and innovative ways to lever up not only their portfolio companies, but entire portfolios as well. Read more…
Download PDF Introduction: Infrastructure as an Asset Class Infrastructure investing involves allocating capital towards large-scale physical and organisational structures that provide essential services, such as transportation, energy, water, and telecommunications. These assets are critical for the functioning and growth of economies, often offering long-term, stable returns for investors. Infrastructure investments Read more…
Download PDF Introduction Michael Saul Dell, an American billionaire investor, is the founder and CEO of Dell Technologies Inc. [NYSE: DELL]. According to the Bloomberg Billionaires Index, he is the 13th richest person in the world, as of October 3, 2024. Born in Houston in 1965 to a Jewish family, Read more…
Download PDF Overview In the industry of private equity (PE), dividend recapitalizations also referred to as dividend recaps, have become one of the principal financial maneuvers in driving the returns on invested capital. In times where exits are difficult and options are limited, general partners extract value from portfolio companies Read more…
Download pdf Introduction A few weeks ago, the German media conglomerate Axel Springer announced the split up of its media and digital classifieds assets. According to the firm, the demerger is to be signed in the coming months and completed by mid-2025 at the latest. The deal envisions Axel Springer’s Read more…
Download PDF Introduction Private Equity firms are known for investing in all types of businesses. Ranging from pet clinics and cookie brands to power transmission lines, over time funds have expanded their investment horizons to different asset classes. In the early 2000s private equity firms began investing in higher education, Read more…
Download PDF Introduction After a challenging 2023, in the first two quarters of 2024, the Equity Capital Markets activity has been recovering. As of May 2024, the ECM volume YTD accounted for $108bn, compared to $171bn for the whole 2023. Moreover, since the beginning of the year, convertibles were issued Read more…
Download PDF Introduction The music industry’s evolution, from vinyl to streaming, has not only transformed how we consume music but also revolutionized investment opportunities. With streaming platforms dominating revenue streams and artists navigating the complexities of selling their rights, investors are increasingly drawn to the potential of music royalties as Read more…
Download PDF Introduction The past year has been one of the most challenging for the global IPO markets since the 2008 global financial crisis. Rising interest rates constrained liquidity, investors were cautious, and choppy stock market valuations caused potential IPO candidates to put their listing ambitions on hold, hoping for Read more…
Download PDF Introduction The transaction involving the sale of MotoGP to Liberty Media is a significant event in the realm of sports acquisitions, highlighting a meticulous approach to business strategy in the motorsports industry. Our article begins by exploring Bridgepoint’s decision to forego a higher bid in favor of a Read more…
Download PDF Introduction and the state of the private equity industry The geopolitical and macroeconomic environment in 2022 and 2023 led to a sharp decline in the value and volume of private equity deals. Multiple causes contributed to this collapse, with inflation headwinds being a major one. Inflation, which stood Read more…
Download PDF Introduction As Bill Ackman – Founder and CEO of Pershing Square Capital Management [AMS: PSH] mentioned on an interview with David Rubenstein in November of last year, some people are simply born to be activist investors. Clearly, that begs the question: What are activist investors? The strategy refers Read more…
Download PDF Introduction Len Blavatnik, a Russian-born American billionaire who made his first fortune in post-Soviet Russia, is well known to many readers of financial news for his hugely profitable ownership of Warner Music [NASDAQ: WMG], which he took public in 2020, making a paper profit of as much as Read more…
Download PDF Introduction Since Joe Biden was elected President of the United States in late 2020, antitrust enforcement action has, in the general population’s mind, moved from something we read about in history textbooks to something dominating the headlines. Whether it is through challenging the latest multi-billion dollar merger or Read more…