Mergers and Inquisitions

NOVEMBER 22, 2023

The name “bulge bracket” (BB) comes from the prospectus for an IPO or debt issuance, which lists all the banks underwriting the deal. I’m still listing it because it was #9 by global IB revenue in 2021 and 2022, but I would not be surprised if it fell off this list eventually. This does not mean it’s a bad place to work.

Bulge Bracket 105

Bulge Bracket Bank Banking Boutique 105

Mergers and Inquisitions

MARCH 13, 2024

Others would counter that growth equity’s rapid ascent was mostly due to the easy money that persisted between 2008 and 2021. This style is about purchasing minority stakes in cash-flow-negative-but-high-growth companies that want to scale and eventually go public or sell (think: Uber or Airbnb before their IPOs).

Private Equity 105

Private Equity Equities Capital Portfolio 105

Mergers and Inquisitions

SEPTEMBER 11, 2024

For growth-stage companies, you will see plenty of equity offerings: IPOs , SPACs , PIPEs, and follow-on issuances. A good example is the 2020 – 2021 period, when SPAC activity went vertical, and plenty of renewable energy companies used SPACs to go public. but they are less consistent than those above.

Investment Banking 59

Investment Banking Bank Banking Investment 59

Mergers and Inquisitions

DECEMBER 4, 2024

However, one common point across all the verticals is that IPOs are not common because there aren’t that many publicly traded sports teams, stadiums, or arenas. SPAC IPOs for esports companies were “hot” for a short period in 2021, but they seem to have died off by now. LionTree and Allen & Co.

Investment Banking 105

Investment Banking Bank Banking Investment 105