Brian DeChesare

JUNE 29, 2022

If you’re thinking about exit opportunities and can’t decide between private equity and hedge funds , activist hedge funds might be your solution. And similar to long/short equity hedge funds , they target undervalued and misunderstood companies and profit when the rest of the market catches up.

Private Equity Firm 52

Private Equity Firm Equity Banking Start-ups 52

Brian DeChesare

NOVEMBER 9, 2022

Sales & Trading Exit Opportunities Definition: An S&T “exit opportunity” is a different field that you enter after working in sales & trading for a few years; common examples are hedge funds , proprietary trading , middle office roles , and investor relations. Portfolio Manager at a multi-manager hedge fund ).

Banking 69

Banking Equity Start-ups Marketability 69

Harvard Corporate Governance

MARCH 22, 2022

I do not discuss other aspects of the Proposed Rules such as those regarding the disclosure of “credit default swaps.”. I begin by discussing a serious cost that the Equity Swap Rule would impose—its detrimental effect on hedge fund activism—that the Commission might have overlooked and that is not considered in the Release.

Equity 189

Equity Finance 189

Benzinga

SEPTEMBER 23, 2022

Troubled Credit Suisse Slides To 52-Week After Report On Raising Fresh Capital. Credit Suisse Group AG (NYSE: CS ) shares fell after reports that the company is looking to raise fresh capital. Hedge fund Third Point LLC , which owns 6.4%

Banking 98

Banking Marketability 98

Brian DeChesare

JULY 27, 2022

Credit hedge funds might be the most consistently overlooked buy-side opportunity. But if you invest in credit and try to explain your job to a normie, their eyes will glaze over as you talk about credit default swaps, crossover credits, or the springing maturity date found on page 374 of a loan agreement.

Equity 52

Equity Start-ups Private Equity Firm Beta 52

Brian DeChesare

JANUARY 19, 2022

Financial Sponsors Group Definition: In investment banking, the Financial Sponsors Group (FSG) advises private equity firms, hedge funds, sovereign wealth funds, and pension funds on capital issuances and transactions involving their portfolio companies. So what’s the difference?”. normal, non-wealthy individuals).

Private Equity Firm 72

Private Equity Firm Banking Equity Finance 72

Reynolds Holding

MAY 6, 2022

It began on a bright note, as his billion-dollar hedge fund stood to profit from a possible settlement in Neiman Marcus’ bankruptcy. [1] Sophisticated investors, i.e., hedge funds that specialize in distress investing, are therefore in a difficult position. Kamensky’s case will only deter hedge funds further.

Private Equity Firm 56

Private Equity Firm Capital Structure Equity Marketability 56

Brian DeChesare

OCTOBER 4, 2023

In short, the media portrayed this event as a populist uprising against Wall Street, as retail investors on Reddit joined forces to bid up GameStop’s stock price while hedge fund Melvin Capital was heavily short the stock. Maybe these funds pay more attention to retail traders now, but I don’t think it’s a night-and-day difference.

Finance 90

Finance Start-ups Banking Marketability 90

Harvard Corporate Governance

NOVEMBER 11, 2022

Tags: Corporate governance , Credit default swaps , Delaware cases , Delaware law , Derivatives , Dodd-Frank Act , Empty voting , Hedge funds , Private ordering , Schedule 13D , SEC , SEC enforcement , Shareholder activism.

Compliance 189

Compliance Banking Treasury Marketability 189

Reynolds Holding

AUGUST 15, 2023

A crucial assumption in our model is that the firm’s investment decision is not governed by a contract: The firm may choose the brown project to maximize its payoff, even if such a decision is against the interest of the investor who funds the firm’s project. ENDNOTE [1] This is the new norm in some jurisdictions.

Marketability 98

Marketability Finance Corporate Finance Equity 98

Brian DeChesare

APRIL 5, 2023

But one possible exception lies in sovereign wealth funds (SWFs) , which are similar to funds of funds in some ways. I’ll address all these points here and cover the advantages and disadvantages of SWFs, but let’s start with the definitions and overview: What Are Sovereign Wealth Funds?

Equity 59

Equity Start-ups Private Equity Firm Banking 59

Reynolds Holding

FEBRUARY 20, 2023

As required by the statutory text under Section 27B, the proposed rule would exempt risk-mitigating hedging activities, liquidity commitments and bona fide market-making activities. Risk-mitigating hedging activities. Liquidity commitments. Bona fide market-making activities. Bona fide market-making activities.

Marketability 45

Marketability Compliance Specific Risk 45

Brian DeChesare

SEPTEMBER 14, 2022

One of the problems with discussing credit analyst roles and the credit analyst career path is that no one agrees on what they mean. Adding to the confusion is the presence of jobs with very similar names, such as “credit risk analyst,” “credit specialist,” and “loan officer.”. And What Do They Do?

Finance 74

Finance Banking Corporate Finance Start-ups 74

Harvard Corporate Governance

APRIL 8, 2022

Tags: CFTC , Credit default swaps , Derivatives , Dodd-Frank Act , SEC , SEC rulemaking , Securities regulation , Swaps , Swaps entities.

Finance 206

Finance Banking Equity Technology 206

Appraisers Blog

NOVEMBER 21, 2023

You’ll see me at costco with pallets of soda pops and fancy waters, always chasing the deal and hedge buying sugary drinks by the thousands. Tap into those government funds. You all are taking this way too seriously, which lends credit to their false accusations. Buy a bunch of machines. I’ll need a van with a ramp.

Start-ups 63

Start-ups Appraisal 63

Brian DeChesare

JUNE 15, 2022

First, note that these terms apply only to investment banks and related finance firms (private equity firms, hedge funds, etc.). Example Jobs at a Bank: Risk management, treasury, some legal/in-house counsel roles, counterparty credit, and some types of quant jobs. Case #2: The Quant or Coder. Case #3: The Risk Manager.

Banking 90

Banking Treasury Start-ups Finance 90

Brian DeChesare

DECEMBER 21, 2022

Q: Now that the Credit Suisse investment banking division is being spun off , will CS no longer be considered a bulge bracket? A: Once the spin-off is complete, I expect that Credit Suisse (or “First Boston”) will be classified as an elite boutique rather than a bulge bracket bank. Bank, School, Dragon, and TV Rankings.

Banking 80

Banking Start-ups Finance EBITDA 80

Brian DeChesare

AUGUST 16, 2023

As with PE in many other emerging/frontier markets, it’s more like growth equity than traditional roles at middle-market PE firms and mega-funds in the U.S. For example, Sequoia is an international firm with USD and RMB funds in China, while domestic VC firms like Qiming Ventures have raised USD funds abroad to invest in China.

Equity 70

Equity Banking Start-ups Private Equity Firm 70

Benzinga

DECEMBER 29, 2022

Purchase Price, net of cash, and certain production tax credits receivable: CA$[339.7]M Boralex will fund the Purchase Price from available cash resources. There is no existing project debt and the existing tax equity investors will continue to monetize the remaining production tax credits. M (US$[249.8]M),

EBITDA 52

EBITDA Marketability Equity 52

Brian DeChesare

NOVEMBER 22, 2023

But the events of 2023, including the UBS acquisition of Credit Suisse and the rise of firms like Wells Fargo, Jefferies, and RBC, have shaken up the traditional list. The end of Credit Suisse in 2023 means that it’s no longer on this list. Why Have the Bulge Bracket Banks Changed? What About Deutsche Bank and UBS?

Banking 97

Banking Start-ups Finance Equity 97

Brian DeChesare

SEPTEMBER 13, 2023

Ask anyone interested in distressed debt hedge funds for “the pitch,” and they’ll probably mention one of the following: “It’s like long/short equity or credit , but more interesting!” Distressed debt investing offers advantages over other hedge fund strategies , but the marketing often oversells the benefits.

Equity 83

Equity Banking EBITDA Start-ups 83

Reynolds Holding

MAY 3, 2023

Today’s amendments to Form PF, despite the release’s generally unconvincing nods to systemic risk, largely appear to be an SEC compliance exercise—part of an effort to recast private fund regulation in the mold of retail fund regulation. [i] Investors who want more guardrails can invest in registered funds.

Compliance 45

Compliance Marketability Equity 45

Brian DeChesare

FEBRUARY 28, 2024

Partially, it’s an issue of accessibility: Everyone understands what happens to the stock price if a company beats earnings… …but few people understand what it means if a company is set to violate a debt covenant on page 214 of its credit agreement. a credit rating vs. an investment recommendation).

Equity 59

Equity Banking Start-ups Finance 59

Brian DeChesare

JUNE 26, 2023

Private Equity Modeling, Credit Modeling, Hedge Fund Modeling & Stock Pitches, etc.). In the future, I expect to release shorter, separate courses on Credit, Private Equity, Hedge Funds, and Advanced M&A Modeling. Cut anything not directly related to entry-level interviews and case studies.

Start-ups 59

Start-ups Equity Banking Finance 59

Brian DeChesare

DECEMBER 7, 2022

Others, such as Citi, Credit Suisse (or whatever it is spun off into…), and Bank of America, also perform well but tend to rank below GS/MS/JPM in terms of pure deal volume. Apply to Non-IB Roles – For example, you don’t need Mandarin to do sales & trading , and you might be able to work at certain hedge funds without it.

Banking 52

Banking Equity Start-ups Finance 52

Brian DeChesare

OCTOBER 18, 2023

Note that while Leveraged Finance is technically in “capital markets,” it is closer to groups like M&A because most of the work relates to funding for acquisitions and leveraged buyouts. If you want a long-term finance career (stay in banking or switch to private equity, corporate development, hedge funds, etc.),

Banking 59

Banking Marketability Start-ups Equity 59

Reynolds Holding

MAY 23, 2023

2] They identified, though, a set of failures with the funds of those days. Moreover, for investors, it can be harder to evaluate a fund than to understand, for example, what a car company does. Private Funds It was nine years after the ’40 Acts were enacted that Alfred Winslow Jones created the first private fund.

Banking 40

Banking Technology Marketability Capital Structure 40

Brian DeChesare

MARCH 9, 2022

Instead, they spend most of their time on: Fundraising – They raise funds, wine and dine the Limited Partners, and convince them to invest in bigger and newer funds. On average, VC Partners earn less than MDs in investment banking, Partners in private equity, and hedge fund portfolio managers.

Finance 83

Finance Start-ups Equity Marketability 83

Brian DeChesare

MAY 24, 2023

“Event-driven hedge funds” is one of the more confusing labels in finance. But the other problem is that all hedge funds are “event-driven” because they invest based on catalysts , or specific events that could change a security’s price. If this fund is right, the company’s price may increase by 50%.

Equity 64

Equity Start-ups EBITDA Banking 64

Reynolds Holding

MARCH 16, 2023

Non-bank financial intermediation (NFBI) – encompassing a broad range of capital sources, including broker-dealers, private funds, and open-end funds (OEFs) – is vital for the financing of the real economy, serving as a critical complement to the traditional banking sector. that may pose bank-like financial stability risks.” [7]

Banking 59

Banking Treasury Marketability Finance 59

Simply Treasury

JUNE 15, 2020

New e-payments and payment methods available, FX hedging automation, dynamic discounting, shorter supply finance chain, dematerialization of trade finance doc's, etc.), Review of credit facilities and funding? Dedicated tools for FX hedging, forecasting and WorkCap mgt. Recourse to dynamic discounting, hedging, ….

Treasury 52

Treasury Finance Banking 52

Brian DeChesare

FEBRUARY 16, 2022

Leveraged Finance – LevFin typically advises for-profit corporations on the debt required to fund transactions such as leveraged buyouts and mergers & acquisitions, so it’s probably the most different of all these. Q: How does fund accounting for non-profits and cities/states differ from standard accrual accounting?

Finance 65

Finance Banking Equity Marketability 65

Benzinga

OCTOBER 31, 2022

Net interest income was negatively impacted during the three months ended September 30, 2022 due to lower net loan fees earned related to the forgiveness of loans originated and funded under the Paycheck Protection Program ("PPP") of the Small Business Administration; A higher net interest margin (tax equivalent basis); and.

Banking 40

Banking Dividends Marketability Equity 40

Reynolds Holding

APRIL 13, 2023

In contrast, the cost of funding earning assets increased from 0.30 First, SVB invested significantly in debt securities during a low-interest-rate period and did not properly hedge its risks, which resulted in losses after the recent surge in interest rates. For example, the average yield on earning assets declined from 3.83

Banking 75

Banking Equity Treasury Finance 75

Simply Treasury

JANUARY 19, 2023

EMIR covers entities that qualify for derivative contracts regarding interest rate, equity, foreign exchange, or credit and commodity derivatives. Also, please do not attack the definition of "hedging" in the context of the collateral exemption. Does EMIR work (in practice)? Again, we ask, why change a winning team?

Treasury 40

Treasury Equity Marketability Banking 40

Brian DeChesare

JULY 19, 2023

When you hear the term “long-only hedge funds,” your first thought might be: “How can a hedge fund hold only long positions? Doesn’t that contradict the term ‘hedge fund’? Why would investors pay high fees for what is effectively a mutual fund?” These are all good questions.

Equity 52

Equity Beta Banking Start-ups 52

Benzinga

APRIL 28, 2023

of total deposits after adjusting for insured/collateralized public funds and contractual deposits. The measurement of expected credit losses under CECL is applicable to financial assets measured at amortized cost, including loans and HTM debt securities. Deposits grew $99.8 Estimated uninsured deposits represented 26.1%

Dividends 40

Dividends Banking Book Value Equity 40