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Infrastructure Investment Banking: Definitions, Deals, and a Dizzying Diversity of Verticals

Mergers and Inquisitions

3) Sum-of-the-Parts Valuation and the NAV Model In some verticals, such as renewables, real estate, and transportation, you often take a portfolio approach and assign a specific value to each item on a companys Balance Sheet to determine what its worth. Distributable Cash Flow for Midstream companies).

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Portfolio trading is on the up but only some can make it pay

The TRADE

Portfolio trading as a concept has exploded in the last few years, egged on by market conditions and volatility brought on by the pandemic and other macroeconomic factors. Portfolio trades have historically helped many institutions to move big blocks of risk. billion in total portfolio trading volume in Q3 2023, up 11.1%

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Private Equity in China: The Worst of Both Worlds?

Mergers and Inquisitions

Investment Banking Experience at Bulge Bracket or Top Domestic Banks – As with PE anywhere, you need a few years of IB experience to be competitive in most cases. Working at the bulge brackets or elite boutiques is better for international funds, while IB experience at the top Chinese banks (CICC, CITIC, Huatai, Haitong, etc.)

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Trading at the frontier

The TRADE

If a portfolio manager wants to execute a trade days after such an event, they need to understand that liquidity may be reduced, and they must be confident in their strategy if they’re willing to pay more in the bid-offer spread.” “Post the GFC [global financial crisis] things have changed 180 degrees in terms of regulation and compliance regimes.”

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Wealth Management vs. Investment Banking: Career Deathmatch

Mergers and Inquisitions

The Nature of the Work: Markets, Analysis, Sales, and Interpersonal Skills Wealth management (WM) requires broader knowledge of the financial markets since you may have to advise clients on everything from their portfolio allocations to upcoming tax changes. Think: benchmarking portfolios rather than modeling companies.

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The prime brokerage pie is growing, which means bigger slices for everyone

The TRADE

This has created an ongoing opportunity for mid-tier prime brokers, particularly those with broad asset class and geographical capabilities comparable to those of the bulge bracket banks. This is an ongoing pattern that we suspect will continue for some time.” And we’ve seen some significant launches this year in that space.

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The Full Guide to Pre-MBA Internships: Are They Worth It?

Mergers and Inquisitions

We’ll return to this point later, but in finance, it’s more common to do a pre-MBA internship at a small VC/PE firm or boutique bank rather than a bulge bracket bank. With the longer-term internships, you’ll help the full-timers with industry research, sourcing deals/ideas, building pitch books , or evaluating due diligence.

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