International Corporate Finance

380 Pages·2016·12.95 MB·English

2016
EDITION
INTERNATIONAL
CORPORATE FINANCE
M&A • PRIVATE EQUITY • BANKING & FINANCE • TAX • ANTITRUST
Marco De Benedetti
The Carlyle Group
P. 54
Tania
Daguere-Lindbäck
Blackstone
P. 38
Augusto Lima
Anheuser-Busch InBev
P. 45
Louis Schweitzer
Renault
P. 41
Luciane Ribeiro
Santander Brasil Asset
Management
P. 37
Benedict Oramah
Afreximbank
P. 49
Mathilde Bluteau
Microsoft France
P. 35
Gaurav Malik
Philips Lighting
P. 42
Giselle Luna de Mello
Wells Fargo GFI
RANKINGS P. 51
EXTERNAL CONTRIBUTORS
AMERICAS P.67
EXECUTIVE SUMMARY
EUROPE P.149 EXPERT VIEWS P.326
THE GLOBAL MARKET: ASIA P.301
TOP ADVISORS DIRECTORY Jeff Immelt
MONEY TALKS P.12
Argentina, Brazil, Canada, Chile, Colombia, GE
PRIVATE EQUITY FIRMS P.334
50 LEADERS Mexico, Peru, Uruguay, USA, Austria, Belgium,
INVESTMENT BANKS P. 42
France, Germany, Italy, Luxembourg, Netherlands,
THE 50 PEOPLE OF THE YEAR Poland, Portugal, Russia, Spain, Switzerland, UK, & FINANCIAL ADVISORS P.337
IN CORPORATE FINANCE P.34 China, India, Japan EXECUTIVE SEARCH & ADVISORY P.341
LAW FIRMS P.342
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EDITO
JANDIRA SALGADO JEANNE YIZHEN YIN
MANAGING EDITOR ASSOCIATE MANAGING EDITOR
BOOM, BREAKDOWN, AND...?
Mania – that would be 2015’s Word of the Year in international corporate
finance, if such a competition existed. Indeed, since the beginning of 2015,
with a total value of $1.92 trillion – the highest in at least the past 20 years –
over 70 mega deals have made international press headlines. Faced with the
record high $4.7 trillion M&A deal value and an increase in the aggregate
value of venture capital deals for the third successive year, the media were
not short of adjectives like “historical” and “record-breaking”. They were
not the only ones getting excited, with investors delighted and corporates
full of confidence.
However, this euphoria masks some worrisome signs, such as the
disappointing performance of the IPO market (the worst since 2009), or the
$481 billion in withdrawn deals in the first five months of 2016, according
to Dealogic (yet another superlative as it was the highest level since the 2007
financial crisis).
In 2016, the deal atmosphere has clearly changed. Market volatility, along
with a troubling macro environment – from emerging markets to lower
commodities prices to geopolitical risks such as the Brexit, the threat of
terrorism and the election year cycle – is fueling a lot of uncertainty and
putting a major dampener on deal-making. HR changes, increasing
regulatory pressure and emerging technologies such as digital banking,
Bitcoin and Blockchain continue to impact financial professionals, whether
or not they are prepared.
Lawyers have not been spared from this whirlwind, but for them there are
advantages as well. Today nothing can stop the consolidation trend between
law firms. Globalization of deals and clients, aggressive competition, the
impact of the internet or the commoditization of certain kinds of work, the
reasons are many but there is one common point – every firm want to be
bigger, international and competitive. We’ve never seen so many big law
firms in the world, expanding at such a fast rate, which gives us the same
feelings of excitement as we have for the M&A market.
What’s next? Well, “?” seems to us a great choice for Symbol of the Year 2016
(again, if such a competition existed).
CONTENTS
EXECUTIVE SUMMARY
Rapidly-evolving legal landscapes, financing models, technological progress and shifting mindsets are paving
the way to a new world of M&A and Private Equity investment.
13 M&A
13 2015: An Unprecedented Year in the History of M&A
16 10 Largest Announced Deals of 2015
18 2016: A Year Full of Uncertainty
19 Private Equity
19 A Solid Year for PE/VC Market, a Cold Winter for Exits
20 Top 50 Private Equity Fund Managers
22 Influential Factors
22 Geostrategic Risks on the Rise
23 HR Changes in the Corporate Sector
25 Technological Impact
25 The Rise of Technology in the World of Finance
26 New Age Digital Players Enter the Banking Space
28 The Use of Blockchain in Banking and Beyond
29 The Changing Face of the Fund Servicing Industry
50 LEADERS
Leaders League has identified fifty impactful leaders across the globe, whose ambitions and achievements are
reshaping the world of corporate finance. They include women in powerful positions, dealmakers, M&A players in
emerging countries, directors of financial institutions, private equity & corporate venture players and IPO leaders.
All fifty are highly engaged in diverse fields and in the following pages share their insights and inspirations.
34 Women in Corporate Finance
40 Dealmakers
44 M&A Players in Emerging Countries
48 Financial Institutions
52 Private Equity & Corporate Venture
60 IPO Leaders
RANKINGS
67 AMERICAS
69 Argentina
70 Argentina Top 10 M&A Deals
71 Argentina Best Law Firms - M&A
72 Argentina Best Law Firms - Antitrust
73 Argentina Best Law Firms - Corporate Tax
74 Argentina Best Law Firms - Banking & Finance
75 Brazil
76 Brazil Top 10 M&A Deals
77 Brazil Best Investment Banks - M&A Advisory
78 Brazil Best Law Firms - Large-Cap M&A and Cross-border Deals
78 Brazil Best Foreign Advisors in International Law
80 Brazil Best Law Firms - Corporate Law and M&A
82 Brazil Best Law Firms - Corporate Tax: Counsel
83 Brazil Best Law Firms - Corporate Tax: Litigation
84 Brazil Best Law Firms - Private Equity
84 Brazil Best Local Private Equity Firms
85 Brazil Best Law Firms - Banking & Finance
86 Brazil Best Law Firms - Antitrust
87 Canada
88 Canada Top 10 M&A Deals
89 Canada Best Private Equity Firms (LBO)
90 Canada Best Investment Banks - Large Cap
91 Canada Best Investment Banks - Small to Mid Cap
92 Canada Best Investment Banks - TMT
92 Canada Best Investment Banks - Energy
93 Canada Venture Capital Firms List
94 Canada Best Law Firms - M&A - Large Cap
95 Canada Best Law Firms - M&A - Small & Mid Cap
96 Canada Best Law Firms - Corporate Tax
97 Canada Best Law Firms - Banking & Finance
97 Canada Best Law Firms - Competition/Antitrust
98 Chile
99 Chile Top 10 M&A Deals
100 Chile Best Law Firms - M&A
101 Chile Best Law Firms - Banking & Finance
102 Chile Best Law Firms - Antitrust
102 Chile Best Law Firms - Corporate Tax
103 Colombia
104 Colombia Top 10 M&A Deals
105 Colombia Best Law Firms - M&A
106 Colombia Best Law Firms - Banking & Finance
106 Colombia Best Law Firms - Antitrust
107 Colombia Best Law Firms - Coporate Tax
108 Mexico
109 Mexico Top 10 M&A Deals
110 Mexico Investment Banks List
111 Mexico Best Law Firms - M&A
112 Mexico Best Law Firms - Antitrust
113 Mexico Best Law Firms - Corporate Tax
114 Mexico Best Law Firms - Banking & Finance
115 Peru
116 Peru Top 10 M&A Deals
117 Peru Investment Banks List
118 Peru Best Law Firms - M&A
120 Peru Best Law Firms - Corporate Tax
121 Peru Best Law Firms - Banking & Finance
122 Uruguay
123 Uruguay Best Law Firms - M&A
123 Uruguay Best Law Firms - Corporate Tax
CONTENTS
124 USA
125 USA Top 10 M&A Deals
126 USA Best Private Equity Firms (LBO) - Large Cap
126 USA Best Private Equity Firms (LBO) - Mid Cap
127 USA Best Private Equity Firms (LBO) - By Sector
128 USA Best Investment Banks - Energy - Large Cap
129 USA Best Investment Banks - Energy - Small to Mid Cap
130 USA Best Investment Banks - Retail & Consumer Goods - Large Cap
131 USA Best Investment Banks - Retail & Consumer Goods - Small to Mid Cap
132 USA Best Investment Banks - Health & Pharma - Large Cap
133 USA Best Investment Banks - Health & Pharma - Small to Mid Cap
134 USA Best Investment Banks - Industrials - Large Cap
135 USA Best Investment Banks - Industrials - Small to Mid Cap
136 USA Best Investment Banks - TMT - Large Cap
137 USA Best Investment Banks - TMT - Small to Mid Cap
138 USA Financial Advisors to Private Equity Firms (LBO) - Large Cap
138 USA Financial Advisors To Private Equity Firms (LBO) - Small to Mid Cap
139 USA Best Venture Capital Firms
140 USA Nationwide Best Law Firms - M&A - Jumbo & Large Cap (Over $1bn)
142 USA Nationwide Best Law Firms - M&A - Mid Cap (Between $500m and $1bn)
143 USA Nationwide Best Law Firms - Antitrust
144 USA Nationwide Best Law Firms - Corporate Tax
145 USA Nationwide Best Law Firms - Private Equity
146 USA Nationwide Best Law Firms - Investment Management
147 USA Nationwide Best Law Firms - Acquisition Finance
148 USA Nationwide Best Law Firms - Banking & Finance
149 EUROPE
150 Europe Best Venture Capital Firms
151 Europe Best Private Equity Firms (LBO) - Large Cap
151 Europe Best Private Equity Firms (LBO) - Mid Cap
152 Austria
153 Austria Top 10 M&A Deals
154 Austria Best Law Firms - M&A
155 Austria Best Law Firms - Competition Law
155 Austria Best Law Firms - Corporate Tax
156 Austria Best Law Firms - Banking & Finance
157 Belgium
158 Belgium Top 10 M&A Deals
159 Belgium Best Investment Banks
160 Belgium Best Law Firms - M&A
161 Belgium Best Law Firms - Private Equity
161 Belgium Best Law Firms - Capital Markets
162 Belgium Best Law Firms - Banking & Finance
163 Belgium Best Law Firms - Competition Law/Merger Control
164 Belgium Best Law Firms - Corporate Tax
165 France
166 France Top 10 M&A Deals
167 France Best Private Equity Firms (LBO) - Large Cap
168 France Best Private Equity Firms (LBO) - Upper Mid Cap & Mid Cap
169 France Best Private Equity Firms (LBO) - Lower-Mid Cap & Small Cap
170 France Best Venture Capital Firms
171 France Best Investment Banks - Complex Transactions & High Litigation Potential
172 France Best Investment Banks - Large Cap (Over €500m)
173 France Best Investment Banks - Upper-Mid Cap & Mid Cap (Between €75m and €500m)
174 France Best Investment Banks - Small Cap (Between €20m and €75m)
175 France Best Investment Banks - Lower to Small Cap (Under €20m)
176 France Best Investment Banks - Energy & Infrastructures - Large Cap
176 France Best Investment Banks - Energy & Infrastructures - Small & Mid Cap
177 France Best Investment Banks - Industrials - Large Cap
177 France Best Investment Banks - Industrials - Small & Mid Cap
178 France Best Investment Banks - TMT - Large Cap
178 France Best Investment Banks - TMT - Small & Mid Cap
179 France Best Investment Banks - Health & Pharma - Large Cap
179 France Best Investment Banks - Health & Pharma - Small & Mid Cap
180 France Best Investment Banks - Retail & Consumer Goods
181 France Best Investment Banks - Real Estate
182 France Best Investment Banks - Financial Institutions Group (FIG)
183 France Best Investment Banks - Agribusiness & Wine
184 France Best Law Firms - Complex Transactions & High Litigation Potential
185 France Best Law Firms - Deals over €500m
186 France Best Law Firms - Deals between €75m and €500m
188 France Best Law Firms - Deals under €75m
191 France Best Law Firms - Merger Control
192 France Best Law Firms - Corporate Tax
194 France Best Law Firms - Fund Formation
194 France Best Law Firms - LBO Funds - Large & Upper-Mid Cap
195 France Best Law Firms - LBO Funds - Mid Cap
196 France Best Law Firms - LBO Funds - Lower-Mid Cap & Small Cap
198 Germany
199 Germany Top 10 M&A Deals
200 Germany Best Private Equity Firms (LBO)
201 Germany Best Investment Banks - Energy - Large Cap
201 Germany Best Investment Banks - Energy - Small to Mid Cap
202 Germany Best Investment Banks - Retail & Consumer Goods - Large Cap
202 Germany Best Investment Banks - Retail & Consumer Goods - Small to Mid Cap
203 Germany Best Investment Banks - Health & Pharma - Large Cap
203 Germany Best Investment Banks - Health & Pharma - Small to Mid Cap
204 Germany Best Investment Banks - Industrials - Large Cap
204 Germany Best Investment Banks - Industrials - Small to Mid Cap
205 Germany Best Investment Banks - TMT - Large Cap
205 Germany Best Investment Banks - TMT - Small to Mid Cap
206 Germany Best Law Firms - M&A - Large Cap
207 Germany Best Law Firms - M&A - Mid Cap
208 Germany Best Law Firms - Private Equity
208 Germany Best Law Firms - Fund Formation
209 Germany Best Law Firms - Corporate Tax
210 Germany Best Law Firms - Banking & Finance
211 Germany Best Law Firms - Competition Law/Merger Control
212 Italy
213 Italy Top 10 M&A Deals
214 Italy Best Private Equity Firms (LBO)
215 Italy Best Investment Banks - Energy
215 Italy Best Investment Banks - Retail & Consumer Goods
216 Italy Best Investment Banks - Industrials
217 Italy Best Investment Banks - TMT
218 Italy Best Investment Banks - Health & Pharma
219 Italy Best Law Firms - M&A - Large Cap
220 Italy Best Law Firms - M&A - Small to Mid Cap
221 Italy Best Law Firms - Corporate Tax
222 Italy Best Law Firms - Private Equity
223 Italy Best Law Firms - Fund Formation
224 Italy Best Law Firms - Banking & Finance
225 Luxembourg
226 Luxembourg Top 10 M&A Deals
227 Luxembourg Best Investment Banks
228 Luxembourg Best Law Firms - M&A
229 Luxembourg Best Law Firms - Corporate Tax
230 Luxembourg Best Law Firms - Private Equity
231 Luxembourg Best Law Firms - Banking & Finance
232 Luxembourg Best Law Firms - Investment Management
233 Netherlands
234 Netherlands Top 10 M&A Deals
235 Netherlands Best Private Equity Firms (LBO)
235 Netherlands Best Investment Banks
236 Netherlands Best Law Firms - M&A
237 Netherlands Best Law Firms - Private Equity
238 Netherlands Best Law Firms - Corporate Tax
239 Netherlands Best Law Firms - Banking & Finance
240 Netherlands Best Law Firms - Antitrust & Competition
CONTENTS
241 Poland
242 Poland Top 10 M&A Deals
243 Poland Best Law Firm - M&A
244 Poland Best Law Firm - Corporate Tax
245 Poland Best Law Firm - Competition
246 Portugal
247 Portugal Top 10 M&A Deals
248 Portugal Best Law Firms - M&A
249 Portugal Best Law Firms - Corporate Tax
250 Portugal Best Law Firms - Banking & Finance
251 Russia
252 Russia Top 10 M&A Deals
253 Russia Best Law Firm - M&A
254 Russia Best Law Firm - Antitrust
255 Russia Best Law Firm - Corporate Tax
256 Spain
257 Spain Top 10 M&A Deals
258 Spain Best Private Equity Firms (LBO)
259 Spain Best Investment Banks - Energy
260 Spain Best Investment Banks - Retail & Consumer Goods
261 Spain Best Investment Banks - Industrials
262 Spain Best Investment Banks - TMT
263 Spain Best Investment Banks - Health & Pharma
264 Spain Best Law Firms - M&A
265 Spain Best Law Firms - Corporate Tax
266 Spain Best Law Firms - Banking & Finance
267 Switzerland
268 Switzerland Top 10 M&A Deals
269 Switzerland Best Private Equity Firms (LBO)
270 Switzerland Venture Capital Firms List
271 Switzerland Best Investment Banks
272 Switzerland Best Investment Banks - TMT
272 Switzerland Best Law Firms - Competition/Antitrust
273 Switzerland Best Law Firms - M&A
274 Switzerland Best Law Firms - Corporate Tax
275 Switzerland Best Law Firms - Banking & Finance
276 UK
277 UK Top 10 M&A Deals
278 UK Best Private Equity Firms (LBO) - Large Cap
278 UK Best Private Equity Firms (LBO) - Mid Cap
279 UK Best Private Equity Firms (LBO) - By Sector
280 UK Best Investment Banks - Energy - Large Cap
281 UK Best Investment Banks - Energy - Small to Mid Cap
282 UK Best Investment Banks - Retail & Consumer Goods - Large Cap
283 UK Best Investment Banks - Retail & Consumer Goods - Small to Mid Cap
284 UK Best Investment Banks - Health & Pharma - Large Cap
285 UK Best Investment Banks - Health & Pharma - Small to Mid Cap
286 UK Best Investment Banks - Industrials - Large Cap
287 UK Best Investment Banks - Industrials - Small to Mid Cap
288 UK Best Investment Banks - TMT - Large Cap
289 UK Best Investment Banks - TMT - Small to Mid Cap
290 UK Financial Advisors To Private Equity Firms (LBO) - Large Cap
290 UK Financial Advisors To Private Equity Firms (LBO) - Small to Mid Cap
291 UK Best Law Firms - M&A - Large Cap (Over £250m)
292 UK Best Law Firms - M&A - Mid Cap - (Between £50m and £250m)
293 UK Best Law Firms - Private Equity - Large Cap
294 UK Best Law Firms - Private Equity - Mid Cap
295 UK Best Law Firms - Fund Formation
296 UK Best Law Firms - Private Equity - Venture Capital Investment
297 UK Best Law Firms - Acquisition Finance
298 UK Best Law Firms - Corporate Tax
299 UK Best Law Firms - Banking & Finance
301 ASIA
302 China
303 China Top 10 M&A Deals
304 China Best Investment Banks - Large Cap & Cross-border
305 China Best Investment Banks - Small to Mid Cap
306 China Best Private Equity Firms
308 China Best Domestic Law Firms - M&A
309 China Best International Law Firms - M&A
310 China Best Domestic Law Firms - Private Equity
311 China Best International Law Firms - Private Equity
312 China Best Domestic Law Firms - Competition/Antitrust
312 China Best Domestic Law Firms - Corporate Tax
313 China Best Domestic Law Firms - Banking & Finance
314 India
315 India Top 10 M&A Deals
316 India Best Investment Banks - TMT
317 India Best Law Firms - M&A
318 India Best Law Firms - Antitrust
318 India Best Law Firms - Corporate Tax
319 India Best Law Firms - Private Equity
319 India Best Law Firms - Banking & Finance
320 Japan
321 Japan Top 10 M&A Deals
322 Japan Best Domestic Law Firms - M&A
323 Japan Best Domestic Law Firms - Competition
323 Japan Best Domestic Law Firms - Corporate Tax
EXTERNAL CONTRIBUTORS
326 Interview with Serge Krancenblum, CEO, SGG Group
328 Montefiore Investment: Masters of Growth-Driven Transformation
Case Study of Montefiore Investment
TOP ADVISORS DIRECTORY
334 PRIVATE EQUITY FIRMS
337 INVESTMENT BANKS & FINANCIAL ADVISORS
341 EXECUTIVE SEARCH & ADVISORY
342 LAW FIRMS
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EXECUTIVE
SUMMARY