The evolution of corporate finance for alternative asset managers

Wed Apr 4, 2007





  Philip Ryan                                     Alistair McKay

Philip Ryan, chairman, Financial Institutions Group, and Alistair McKay, managing director, Credit Suisse

Market commentators will look back on 2006 and conclude that it was a watershed year in the alternative asset management industry (comprising hedge funds, funds of funds and private equity firms) in terms of M&A and capital markets activity. The number and size of significant transactions in Europe amounted to five management company initial public offerings ($2.1 billion), nine permanent capital IPOs ($11.5 billion) and 11 M&A transactions and stake sales ($1.4 billion) which far exceeded previous years. 2006 also saw the first substantial senior bond offering for a hedge fund.

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