June, 2023

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Investment Banking in Dubai: The New York of the Middle East?

Mergers and Inquisitions

Investment banking in Dubai stands out for attracting remarkable hype on social media. You’ll find influencers on Instagram, TikTok, LinkedIn, and other sites constantly praising Dubai and claiming it’s the best place to work or start a business. It’s almost like the city has its own PR department and never-ending marketing campaign. If you’re interested in the Middle East or have connections to the region, all this hype has probably made you wonder about finance careers there.

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Ryan Reynolds Invests in Alpine F1 Team

The New York Times: Mergers, Acquisitions and Dive

The actor Ryan Reynolds, the private equity firm RedBird Capital and Otro Capital are among the investors taking a stake in Renault’s Alpine team.

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Fidelity joins the rush for a bitcoin ETF, following BlackRock, Ark Invest and others

CNBC: Investing

The SEC has long opposed a spot bitcoin ETF, but a filing by BlackRock earlier this month has sparked optimism that the regulator could soften that stance.

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Robinhood acquires credit card startup X1 for $95M

TechCrunch: M&A

Robinhood announced on Thursday that it was acquiring X1 , a no-fee credit card startup, for $95 million in cash. X1, which offers an income-based credit card with rewards, raised a total of $62 million in venture-backed funding from investors like Soma Capital, FPV, Craft Ventures and Spark Capital since its 2020 inception. The company announced its most recent raise of $15 million in December, when it also touted a 50% boost in its valuation.

Valuation 320
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15 Modern Use Cases for Enterprise Business Intelligence

Large enterprises face unique challenges in optimizing their Business Intelligence (BI) output due to the sheer scale and complexity of their operations. Unlike smaller organizations, where basic BI features and simple dashboards might suffice, enterprises must manage vast amounts of data from diverse sources. What are the top modern BI use cases for enterprise businesses to help you get a leg up on the competition?

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Beyond Paperwork: Assessing the Effectiveness of a Compliance Program

JD Supra: Mergers

In the world of FDA-regulated companies, compliance with regulatory requirements is not just a matter of paperwork. It is a critical aspect that can significantly impact mergers and acquisitions (M&A) and the overall success of your business. In this alert, we delve into the importance of healthcare compliance in M&A for FDA-regulated companies and provide key insights on evaluating the effectiveness of a compliance program.

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Does The Changed Culture Of The Firm Make You Feel Alone?

H. Friedman Search

Humankind has been and always will be a social animal; however, what about in a work environment? When you first interviewed for your current position, you would not have gone over there unless you felt a true connection. It’s not the platform that you went over there for but for the culture. What does culture mean? It means the people connection.

Finance 227
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SPACs: Insiders Got Out While the Gettin’ Was Good

Deal Lawyers

A recent WSJ article highlights the rather timely exits by SPAC sponsors & early-stage investors. It says that these investors sold shares worth $22 billion before their companies’ stock prices collapsed.

Investors 185
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Top Skills Needed to Succeed as a Private Equity Associate

OfficeHours

Alongside hedge funds and venture capital firms, private equity is often the most coveted role within the finance sector, and for good reason – it is a highly compensated, competitive, and luckily, a non-client-facing role that is the end goal for many aspiring finance professionals. However, contrary to what a lot of people on Wall Street Oasis will tell you, you do not suddenly just end your career ambition and aspirations once you hit that lucrative associate role and finally get to flex on y

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Databricks picks up MosaicML, an OpenAI competitor, for $1.3B

TechCrunch: M&A

Investors aren’t the only ones who want to get their hands on hot tech companies in the field of AI: it’s also likely to spur a big wave of M&A, too: today, Databricks announced that it would pay $1.

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Top 3 Banking Secrets to Stay Relevant with Gen Z Consumers

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant (or getting "ghosted") if they fail to meet the evolving needs of Gen Z consumers. Credit cards with flexible payment options, especially for young adults with little-to-no credit history, are a particularly important and valuable solution for this generation.

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Delaware Bankruptcy Court Ruling on $7.2B Claim Affects Fraudulent Transfer Defense, Valuation Litigation

JD Supra: Mergers

In a decision likely to have a knock-on effect for future fraudulent transfer defense and valuation litigation, the Delaware bankruptcy court recently ruled that the price agreed in the sale of an oil and gas company closed by market participants represents the reasonably equivalent value for the assets being sold and is more reliable evidence of value than expert testimony prepared for the purposes of litigation.

Valuation 246
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Midaxo Workspaces Help Teams Isolate Deal Pipelines While Sharing Best Practices 

Midaxo

Introduction Corporate dealmaking often requires the isolation of corporate development teams and their deal flows for compliance, confidentiality, and other business reasons. Ensuring security and confidentiality is crucial because a single careless click of a mouse could jeopardize a deal, cause regulatory chaos, or damage a company’s reputation.

Shares 220
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Why Would You Not Talk To A Recruiter?

H. Friedman Search

At the risk of maybe some redundancy over the last year, I think this is an important question you need to ask yourself. If a recruiter is reaching out to you, is there any harm in talking to one? The answer, like many answers in life, depends. “What does it depend on?” I hear you asking, and the answer is a follow-up question, “Is the recruiter a recognized expert in your field?

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Due Diligence: Top Issues for Tech Sector Deals

Deal Lawyers

A recent Gibson Dunn memo provides an overview of the top tech sector due diligence issues in M&A transactions.

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Predictions You Can Rely On: How Data Drives Successful Financial Forecasting

Speaker: Robbie Bhathal, Founder & CEO, and Matthew Acalin, Head of Credit Intelligence

In today's volatile financial environment, how confident are you in your company’s financial forecasting? To get the most accurate cash predictions that will lead to long-term financial survival, real-time data is critical. Innovative cash management strategies can lead to better credit opportunities, more sustainable growth, and long-term financial prosperity.

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How to Land a Private Equity Internship: Tips and Strategies

OfficeHours

Working in private equity is highly attractive for many reasons, and many finance professionals who are not already in the field often look for ways to break in. One of the primary ways to do so is by landing an internship at a private equity firm you might want to work at. Through a private equity internship, you will be exposed to high-stakes, complex financial transactions and gain valuable experience in investment analysis, deal structuring, and portfolio management.

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GM buys software startup that predicts EV battery fires

TechCrunch: M&A

General Motors said Friday it has acquired Algolion, an Israel-based software startup that can detect potential hazards in battery cells. Financial terms were not disclosed. The automaker did say that Algolion’s six employees, including the company’s founders, will remain based in Israel and join more than 850 employees at the GM Technical Center in Herzliya, Israel.

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SPAC Litigation Mid-Year Update: Delaware Opens the Gates

JD Supra: Mergers

With SPAC IPOs virtually gone but SPAC mergers (aka de-SPACs) continuing at a steady pace since the beginning of the year, the questions around getting a deal done boil down to the following: How and where can companies get financing now that the PIPE (private investment in public equity) market has dried up? How long will it really take to get the deal closed, now that target companies are not easy to come by and every deal seems to need an extension?

IPO 246
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India to lose 6,500 millionaires in 2023, Dubai and Singapore top choice

Business Standard - FInance

This places India as the second-largest country in terms of HNWI outflow globally, following China (net loss of 13,500)

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Enhance Customer Value: Unleash Your Data’s Potential

The complexity of financial data, the need for real-time insight, and the demand for user-friendly visualizations can seem daunting when it comes to analytics - but there is an easier way. With Logi Symphony, we aim to turn these challenges into opportunities. Our platform empowers you to seamlessly integrate advanced data analytics, generative AI, data visualization, and pixel-perfect reporting into your applications, transforming raw data into actionable insights.

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Change Is In The Air: Enhance Your Career & Take the Initial Call

H. Friedman Search

The truth is that change is in the air. This seems to be a repeating theme over the last couple of months and those that are prepared for this will weather the storm if it comes upon them. Over the last few weeks, our phones have been ringing with the same theme, “I never saw this happening, but I was let go.” This is not just happening at the junior level; it’s now happening at the senior level in all positions in public finance.

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UK Antitrust Scrutiny of Roll-up Acquisitions

Deal Lawyers

As we’ve acknowledged here, the FTC isn’t the only agency with an ambitious antitrust agenda – the UK and the EU seem to be on the same page. This blog post from Cleary’s Antitrust Watch highlights that the UK Competition and Markets Authority has identified roll-up acquisitions by PE funds as an enforcement priority.

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How to Stand Out in a Competitive Private Equity Associate Job Market

OfficeHours

The private equity industry has experienced significant growth in recent years, leading to a highly competitive job market for aspiring professionals, particularly at the associate level. With numerous candidates vying for limited positions, it is crucial to distinguish yourself from the competition. Below, I will provide a comprehensive guide on how to stand out in the competitive private equity associate job market.

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IBM acquires Apptio from Vista for $4.6B in cash to double down on hybrid cloud services

TechCrunch: M&A

As cloud architecture continues to be more ubiquitous among organizations, increasingly what is more apparent is that many organizations are taking a hybrid approach, blending SaaS in private and public clouds with some products that remain on premises. Today, IBM made a big acquisition doubling down on the hybrid concept: it will pay $4.6 billion in cash to buy Apptio — which has built a platform to track how and where data lives in hybrid environments and how it’s being used, in pa

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Deliver Mission Critical Insights in Real Time with Data & Analytics

In the fast-moving manufacturing sector, delivering mission-critical data insights to empower your end users or customers can be a challenge. Traditional BI tools can be cumbersome and difficult to integrate - but it doesn't have to be this way. Logi Symphony offers a powerful and user-friendly solution, allowing you to seamlessly embed self-service analytics, generative AI, data visualization, and pixel-perfect reporting directly into your applications.

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New Jersey Eliminates S Election as of December 22, 2022

JD Supra: Mergers

New Jersey will automatically treat federal S corporations as New Jersey S corporations, effective for periods beginning on or after December 22, 2022. Historically, the New Jersey Division of Revenue and Enterprise Services (Division) required entities that qualified as S corporations or Qualified Subchapter S Subsidiaries (QSSS) for federal income tax purposes to make a separate election to be treated as an S corporation for New Jersey Corporation Business Tax.

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Factbox – Graphite producers doing deals with automakers and battery groups

Global Banking & Finance

Factbox – Graphite producers doing deals with automakers and battery groups LONDON (Reuters) – Automakers are rushing to lock in graphite supply from outside dominant producer China as mined graphite demand for electric vehicle (EV) batteries outpaces other uses.

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Why Your Mindset Matters For A First Interview

H. Friedman Search

One of the things that I am continually asked is, “What is the right mindset for that first interview?” Everyone knows that mindset is the key to what behaviors you display. Like the saying “As you think, so you are.” So, what is the mindset for that first interview? Most people, if not all, have the wrong mindset when they have that first interview.

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Deal Lawyers Download Podcast — Survey of CVRs: Key Components and Market Trends

Deal Lawyers

Late last month, John blogged about a recent Sidley memo that reviewed all announced public transactions from January 1, 2018 through April 30, 2023 that included CVRs as part of the consideration and identified the key components of CVRs and trends in their terms.

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Using Data & Analytics for Improving Healthcare Innovation and Outcomes

In the rapidly evolving healthcare industry, delivering data insights to end users or customers can be a significant challenge for product managers, product owners, and application team developers. The complexity of healthcare data, the need for real-time analytics, and the demand for user-friendly interfaces can often seem overwhelming. But with Logi Symphony, these challenges become opportunities.

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Private Equity Fundamentals: A Comprehensive Course for Beginners

OfficeHours

Private equity is an investment asset class that has gained significant prominence and popularity in recent decades. It has become a preferred choice for investors seeking attractive returns and diversification from traditional investment options such as stocks and bonds. However, private equity can seem complex and intimidating to beginners who are unfamiliar with its fundamentals.

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HashiCorp acquires code security startup BluBracket

TechCrunch: M&A

Infrastructure automation company HashiCorp today announced that it has acquired code security startup BluBracket. Founded by the team behind Vera Security , BluBracket raised a $12 million Series A round led by Evolution Equity partners in 2021. The two companies did not disclose the price of the acquisition. HashiCorp’s security play so far has focused on providing solutions for identity-based security and safely storing secrets with Vault and secure remote access with Boundary.

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Fund finance market—adapting to change

JD Supra: Mergers

Following a period of rapid growth, the fund finance market has reached an inflection point. Once considered a small, esoteric area of the lending landscape, fund finance—loan facilities secured against investor commitments to private equity (PE) funds and/or fund assets—has grown into a global market worth more than US$600 billion during the last decade, according to asset manager abrdn.

Finance 245