Margherita Latif

🚨The Most-Read Deal Today: Evercore Has Completed Sole Advisory on 21 Invest's €500m ProductLife Group Continuation Fund - Deal Summary Krugman Insights offers Reliable and Comprehensive Insights across M&A, Investment Banking, Private Equity, and Asset Management. 🔎 Financial Advisor on the Deal: Evercore PCA 🔎 Legal Advisor on the Deal: Clifford Chance 🔎 Key Stakeholders: 21 Invest France, ProductLife Group, Oakley Capital 💡21 Invest France has successfully sold ProductLife Group (PLG) to a newly established continuation fund managed jointly with Oakley Capital. Valued at €500 million. The new fund, supported by investments from Eurazeo, Hayfin Capital Management LLP, Arcano, Indosuez Wealth Management, and Goldman Sachs Alternatives, will further propel PLG’s ambitious plans. ✅ FULL ARTICLE HERE: https://lnkd.in/eKP8tRJf ✅ TRY 30 DAYS FREE: https://lnkd.in/eBHYx37M #Evercore #OakleyCapital #21InvestFrance #ProductLifeGroup #MergersAndAcquisitions #InvestmentBanking #CorporateFinance #FinancialAdvisory

17

🚨 The Most-Read M&A Deal Today: Evercore and Goldman Sachs Confirm Advisory on $1.2bn Champion Acquisition - Deal Summary Krugman Insights offers Reliable and Comprehensive Insights across M&A, Investment Banking, Private Equity, and Asset Management. 🔎 Financial Advisors on the Deal: Evercore, Goldman Sachs, J.P. Morgan, Bank of America 🔎 Legal Advisors on the Deal: Kirkland & Ellis, Latham & Watkins, Jones Day 🔎 Key Stakeholders: Authentic Brands Group (Acquirer), Hanesbrands Inc. (Seller) 💡 Authentic Brands Group has agreed to acquire Champion from HanesBrands for $1.2 billion. The deal includes Champion’s intellectual property and select operating assets, with a potential value of up to $1.5 billion based on performance-based cash considerations. HanesBrands plans to use the estimated $900 million net proceeds to accelerate debt reduction. Following the transaction, Champion will be classified as discontinued operations, and HanesBrands will update its full-year guidance. The deal is expected to close in the second half of 2024, pending customary closing conditions and regulatory approvals. ✅ FULL ARTICLE HERE: https://lnkd.in/gQ8gYbWW ✅ TRY 30 DAYS FREE: https://lnkd.in/eBHYx37M #Evercore #GoldmanSachs #AuthenticBrands #Champion #MergersAndAcquisitions #InvestmentBanking #CorporateFinance #SportsLicensing #StrategicPartnership #GlobalGrowth #FinancialAdvisory

161

💭 Which factors might drive private equity M&A activity in the UK in the coming months? Deutsche Numis has just launched 'UK Private Equity M&A Outlook 2024', an annual survey which reveals the sentiment of 200 senior private equity professionals on the driving factors for private equity M&A activity over the next 12 months. Both corporates and private equity sponsors are demonstrating a greater confidence in M&A dealmaking opportunities going into 2025. Optimism for the UK as an investment destination is also high, with 81% of private equity professionals surveyed viewing the UK as attractive compared to other geographies. Read the full report below! #InvestmentBanking #MergersAndAcquisitions #PrivateEquity

189

1 Comment

During our Annual Investor Meeting in New York Nigel Dawn, Global Head of Evercore's Private Capital Advisory group, joined us to share key insights on private markets secondaries and the growth drivers and future expectations for the sector. Nigel led a panel discussion featuring Pantheon secondaries specialists from across all our asset classes - private equity, private credit, infrastructure and real estate - to deep dive on current dynamics in deal flow, directional pricing trends, and the outlook for this dynamic area of growth in the industry. Watch an excerpt from the discussion below, and for more information about Pantheon’s expertise in secondaries strategies, click here: https://lnkd.in/eRuPbfPn #Privatemarkets #Assetmanagement #Secondaries Petra Bukovec, CFA | Toni Vainio | Dinesh Ramasamy | David Elliott

97

Lazard's hiring spree seems to be paying off Lazard has embarked upon a the art of adding staff to grow revenues. Lazards results, suggest it's working there too. Lazard doesn't break out its headcount on a quarterly basis, but in line with chief executive Peter Orszag intention of adding 10 new managing directors (MDs) a year (net), Lazard has been hiring. In the past few months, it's added Adam Cady from Bank of America for large cap sponsor coverage, Charles Noel-Johnson, Jason New and Kevin Glodowski or restructuring and Ali Syed from Citi to cover sovereign wealth funds. Given that Lazard MDs are on salaries of $400k+ and that even average individuals there have been known to earn $500k all-in, you might think Lazard's profits would be dented by this hiring. But the jaws are positive. In the first quarter, revenues at Lazard rose 40% year-on-year, operating expenses rose 23% and profits went from a $22m loss to a $36m profit. Lazard is hiring still. Orszag wants to use all the new MDs to double revenues by 2030. If they continue to generate new business at the current rate, this target will be hit five years ahead of time. #hiring #ibd #investmentbanking #peoplemoves

2

Asked in Evercore for Investment Banking Analyst on multiples 🚀 Q. How would you value a private company using multiples from public company comparables? 🤔 A. You may be thinking that its pretty straightforward, I can apply the comparable's multiple to my company and get to valuation.🤓✅️ That is correct, but as interviewer have focussed on private company, then we can add that💁‍♂️ While valuing a private company using public comps, you may apply a discount for liquidity, as private companies are less liquid than public firms.🙇 Additionally, you may adjust for size and growth rate differences.🙎‍♂️ Multiples like EV/EBITDA or EV/Revenue from public companies in healthcare like Apollo or Max can serve as benchmarks, but you can apply a private company discount, typically ranging from 10-30%.🙆‍♀️ Ultimately motive is to take a reasonable estimation of risk, in DCF WACC helps with it and here you may apply it directly.👨‍💻 P.S. If you are short on time, get all the Q&As consolidated in one file (source in comments👇) P.P.S. Wonder what are bare minimum Industry standards for DCF model ? Check comments for a comprehensive simple model.👇 #education #jobinterviews #InvestmentBanking

17

2 Comments

🚨 The Most-Read M&A Advisory Deal Today: Bank of America and Rothschild & Co Advise on the £8 Billion Merger of Skydance and Paramount Pictures - Deal Summary FULL ARTICLE LINK BELOW ⬇ Krugman Insights offers Reliable and Comprehensive Insights across M&A, Investment Banking, Private Equity, and Asset Management. 🔎 Financial Advisors on the Deal: Bank of America, Rothschild & Co, Moelis & Company, Centerview Partners 🔎 Legal Advisors on the Deal: Latham & Watkins, Sullivan & Cromwell LLP, Cravath, Swaine & Moore LLP, Simpson Thacher & Bartlett LLP and Ropes & Gray LLP 🔎 Key Stakeholders: Skydance Media, Paramount Global 💡 This strategic move involves acquiring National Amusements, Inc. (NAI), which holds a controlling interest in Paramount, and merging Skydance with Paramount to form New Paramount. Under the terms, Paramount Class A shareholders will receive £23 per share, while Class B shareholders are set to get £15 per share, with a total of £4.5 billion available in cash for public shareholders. Skydance, valued at £4.75 billion, will merge into Paramount in an all-stock transaction, resulting in the Skydance Investor Group owning a majority stake in the new conglomerate. ✅ READ THE FULL ARTICLE HERE: https://lnkd.in/e-2tR7pS ✅ TRY 30 DAYS FREE: https://lnkd.in/erfj9aXf #BankofAmerica #Rothschild #Skydance #Paramount #MergersAndAcquisitions #InvestmentBanking #MediaIndustry #StrategicGrowth #MarketExpansion #FinancialAdvisory #Deal #centerviewpartners #moelisandco #mergers #entertainment #deals #analyst #investmentbank #career #success

103

Our recent report, 'Raised in London 2024' found that 81% of FTSE leaders surveyed agreed that private equity acquisitions of UK-listed companies would increase over the next two years. Alec Pratt, Deutsche Bank’s Co-Head of EMEA Financial Sponsor M&A, says this could be due to moderating interest rates, as well as recent valuation levels of UK-listed companies. For more insights on private equity and other key themes impacting the UK capital markets, visit our website: https://lnkd.in/eT9gGWGn #RaisedInLondon #PrivateEquity

25

🚨 The Most-Read M&A Advisory Deal This Week: Morgan Stanley and Goldman Sachs Advise Informa in Strategic £1.2 Billion Acquisition of Ascential - Deal Summary Krugman Insights offers Reliable and Comprehensive Insights across M&A, Investment Banking, Private Equity, and Asset Management. 🔎 Financial Advisors on the Deal: Morgan Stanley, Goldman Sachs, Bank of America 🔎 Corporate Brokers on the Deal: Morgan Stanley, Bank of America, Deutsche Numis 🔎 Legal Advisors on the Deal: Slaughter and May, Clifford Chance 🔎 Key Stakeholders: Informa, Ascential 💡 Morgan Stanley and Goldman Sachs have taken center stage as financial advisors in Informa PLC's strategic acquisition of Ascential PLC for £1.2 billion. This move marks a significant consolidation in the business information sector, positioning Informa as a powerhouse in global business intelligence. Under the terms of the deal, Informa will pay 160 pence per share for Ascential, a 30% premium on its last closing price before the announcement. ✅ Read full article here: https://lnkd.in/dVu44WbX ✅ Sign up to our FREE M&A Weekly Newsletter '3 DEALS SUNDAYS': Comment your email down below #MergersAndAcquisitions #M&A #InvestmentBanking #PrivateEquity #AssetManagement #FinancialAdvisors #LegalAdvisors #Informa #Ascential #BusinessIntelligence #StrategicAcquisition #BusinessGrowth #KrugmanInsights

25

2 Comments

UK: Private equity deal outlook - Deutsche Numis surveyed 200 PE investors. The results demonstrating a greater confidence in M&A dealmaking opportunities going in to 2025. Optimism for the UK as an investment destination is also high, with 81% of private equity professionals surveyed viewing the UK as attractive compared to other geographies. #MergersAndAcquisitions #PrivateEquity Stuart Ord Alec Pratt Oliver Ives European Healthcare Investor Association (E.H.I.A.)

12

HarbourVest Partners, Ardian, and CPP Investments | Investissements RPC to lead Warburg Pincus LLC’s $2 billion multi-asset continuation fund, according to a report. The created CV is for five companies currently held in two of the firm’s older funds; Warburg Pincus Global Growth and Warburg Pincus Financial Sector. #Secondaries #SecondaryMarket #AlternativeInvestments #PrivateMarkets https://lnkd.in/eDauGD4A

134

Another interesting read! In his latest blog, my colleague Joe Gregory writes that trading solutions which enable self-provisioning allow investment firms to be more involved with the process of where and how their orders are traded, as opposed to focusing solely on outcomes. He adds that the ability to create custom algorithmic workflows allows for flexibility and responsiveness, both of which work to better serve customers. Read the blog for yourself to see why these solutions are cost-effective, along with other benefits. https://lnkd.in/eew5HCFS

1

Another interesting read! In his latest blog, my colleague Joe Gregory writes that trading solutions which enable self-provisioning allow investment firms to be more involved with the process of where and how their orders are traded, as opposed to focusing solely on outcomes. He adds that the ability to create custom algorithmic workflows allows for flexibility and responsiveness, both of which work to better serve customers. Read the blog for yourself to see why these solutions are cost-effective, along with other benefits. https://lnkd.in/eBSt-tNB

2

1 Comment

As anticipated in our 2023 Interim Secondary Market Report, the first half of 2024 saw a surge in GP-led transactions and growing demand for liquidity from LPs, driven by the accelerating LP portfolio market. Following this record-setting period for the secondary market, what can we expect for the remainder of 2024? Lazard’s 2024 Interim Secondary Market Report forecasts the key opportunities that could shape the secondary market for the rest of 2024. To read the full report, please click here: https://lnkd.in/gayTPZxi

30

William Blair’s European Technology team has advised on 16 signed or closed deals this year—highlighting its strong cross-border capabilities and domain expertise as it continues to deliver remarkable results for clients. The transaction activity spans diverse end-markets, geographies, and investor types. Amid improving market conditions, William Blair's team has showcased deep sector relationships and extensive buy- and sell-side M&A experience. Select Recent European Technology Transactions:

171

The UK M&A market has seen a flurry of positive activity recently. From global private equity players vying for prime UK assets to increased liquidity from high-value deals, there are plenty of exciting opportunities ahead. Get up to speed on the emerging trends, and how you can harness them, with our latest Market IQ Report: https://lnkd.in/eqvp-2yw #UKInvestors #UKMergers #MergersAndAcquisitions

18

2 Comments

We have published the Q2 2024 global PE industry update. Fundraising drew my attention as it continues to take place out of sinc between Europe and the US since 2022. Either take a sneak peek into https://lnkd.in/dSkNM_A8 with a couple of my quotes and few stats or download the full report and the accompanying datapack for Preqin subscribers from https://lnkd.in/dsAdJrC2 #private equity #Preqin #fundraising #exits

19

1 Comment