Update on M&A Environment Spring 2019 Speaker

Transcript:Update on M&A Environment Spring 2019 Speaker:
Update on M&A Environment Spring 2019 Speaker Biography: Titus Leung Mr. Leung is a Partner of Perella Weinberg Partners and Head of PWP’s Financial Institutions Coverage team, which he has led since the firm’s inception Prior to joining PWP, Mr. Leung was a Managing Director at Morgan Stanley, where he specialized in advising a variety of financial institution clients Previously, Mr. Leung held positions at Lehman Brothers and the law firm, Cadwalader, Wickersham & Taft At PWP, Mr. Leung has led the firm’s effort on covering U.S. and multi-national clients in the Insurance, Asset Management, Banking, and Specialty Finance subsectors and has led the execution of the firm’s engagements in these sectors Mr. Leung received a Bachelor of Science from the University of Minnesota and a J.D. from Georgetown University Law Center Oaktree Capital Management’s sale of a 62% stake to Brookfield Asset Management Western & Southern’s acquisition of Gerber Life AIG’s acquisition of Validus Holdings AXA Equitable’s share repurchase from AXA S.A. Prudential Financial’s acquisitions of: a control stake in Habitat Hartford Life Star Edison a minority stake in PT Asuransi Jiwa Mega Willis Group’s merger with Towers Watson Willis Group’s acquisition of Miller Insurance Athene Holding’s initial public offering and capital raises Further Global’s acquisition of Global Benefits Group Ed Broking’s sale to BGC Partners Ed Broking’s sale of Creechurch Underwriters to Beazley CGSC’s sale of Swett & Crawford to BB&T DBRS’s sale to The Carlyle Group and Warburg Pincus New York Life’s acquisition of Dexia Asset Management Prudential plc’s acquisition of REALIC from Swiss Re Selected Transaction Experience General M&A Update 3 M&A Environment: 2018 In Review – Overall Trends Global M&A Volume Was Up 14% In 2018 Global Deal Value MSCI Index 10 yr. T-Yield 12.0% Source: Dealogic, FactSet Notes: As of 02/26/19 based on announcement date; Includes transactions greater than $100M; Excludes recapitalizations, restructurings, repurchases, Dutch auctions, employee participations ($ in billions) 8.0% 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 9.0% 0.0% 10.0% 11.0% 2,600 1,800 1,600 1,400 1,200 1,000 800 400 200 2,000 0 2,200 2,400 YTD M&A Environment: 2018 In Review – Activity By Region Source: Dealogic Notes: As of 02/26/19 based on announcement date; Includes transactions greater than $100M; Excludes recapitalizations, restructurings, repurchases, Dutch auctions, employee participations M&A volume by target nationality ($ in billions) M&A Environment: 2018 In Review – Activity By Sector Breakdown of Deal Volume Source: Dealogic, Public sources