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International Corporate Finance M&A • Private Equity • Banking & Finance • Tax • Antitrust

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International Corporate Finance M&A • Private Equity • Banking & Finance • Tax • Antitrust 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 AMERICAS P.67 EXTERNAL CONTRIBUTORS EXECUTIVE SUMMARY EUROPE P.149 EXPERT VIEWS P.326 THE GLOBAL MARKET: ASIA P.301 Jeff Immelt MONEY TALKS P.12 TOP ADVISORS DIRECTORY Argentina, Brazil, Canada, Chile, Colombia, GE PRIVATE EQUITY FIRMS P.334 Mexico, Peru, Uruguay, USA, Austria, Belgium, 50 LEADERS P. 42 France, Germany, Italy, Luxembourg, Netherlands, INVESTMENT BANKS 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 Customized legal and fi nancial translation services HIGHLY SPECIALIZED LEGAL AND FINANCIAL TRANSLATION SERVICES ■ A skilled, experienced and dynamic team of in-house fi nancial and legal translators ■ Project managers capable of handling all types of projects ■ A network of highly-skilled freelance translators ■ Ability to rapidly meet the constraints of our specialist sectors ■ An in-depth awareness of clients’ needs Legal translation Financial translation ■ Arbitration and litigation ■ Invest ment funds ■ International Trade ■ Banking ■ Corporate fi nance ■ Real Estate ■ Asset Management ■ Mining, Petroleum ■ Private Equity ■ Intellectual Property ■ Information Technology ■ International organisations We specialise in Investment Funds Over the past 10 years, Tradewords has built up a network of leading European fund specia- lists. We can both translate your documents and update them to your specifi cations, including adjusting the layout if necessary. Types of documents: prospectuses, fund regulations, annual and half-year reports, KIIDs, etc. Our clients International law fi rms - Investment banks - Asset managers - Investment funds Contact 1 bis, avenue Lefèvre 94340 Joinville le Pont Tél. : (+33) 01 49 76 33 28 [email protected] www.tradewords.fr 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
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