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At the junior levels , entry-level professionals in both fields spend a lot of time in Excel working on models, valuations, and documents such as equity research reports and investment banking pitch books. consolidation accounting , lease accounting , etc.). bulgebracket research team to startup PE firm).
Asia-Pacific sees ~$1+ trillion of M&A deal activity per year , and SE Asia accounts for only ~10% of that (note that the first image below is only for 9 months of the year, so the full-year numbers are higher): $50 – $100 billion of M&A deal activity per year may seem like a lot, but it’s less than Canada in an average year.
In the same period, international accounted for $332 million in Q3 up from $311 in Q3 2022. It’s one book and that makes it easy. It [fixed income ETFs] is such an integral part of how we view volumes and overall hedge the book because the balance sheet takes on a lot of different risk profiles,” said one sell-side individual.
based bulgebrackets (GS, MS, JPM, Citi, and BofA) are the strongest international banks, and Avendus, Kotak, JM Financial, ICICI, and Axis are the strongest domestic firms. Among the bulgebrackets, the U.S.-based based firms (GS, MS, Citi, JPM, and BofA) tend to perform best.
Analyst / Associate: “OK, what do we need for the pitch books ?” As I wrote in a recent update of the bulgebracket banks article , though, these points are less true today. However, they should be held accountable for something – whether that means getting fired, demoted, or barred from working for a period.
In terms of industry focus , technology (especially “general IT,” Internet, and semiconductors) and healthcare have always accounted for a high percentage of deal activity. Here’s a good summary from this BDA report on Private Equity in China : Tech still accounts for a huge percentage of deal volume in the U.S.,
Starting his career at Absa Capital on the Africa trading desk, Willis explains that as a junior market maker he was given a book of business – Nigerian and Ugandan bonds among other things – and told to face off against seasoned asset managers and peers.
They plan to target these smaller and mid-sized banks because they’re easier to reach and they have fewer resources for pitch book creation. Also, these numbers do not account for the dilution in future funding rounds. Also, small banks depend far less on long and detailed pitch books than large banks.
Per FTI Consulting , solar, wind, and “portfolio” (mixed asset) deals account for 60% of renewable M&A activity in the U.S.: Renewable Energy Accounting, Valuation, and Financial Modeling For the most part, very little is “new” here. What Do You Do as an Analyst or Associate?
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