Kadir Tas’ Post

𝐀 𝐲𝐞𝐚𝐫 𝐢𝐧 𝐫𝐞𝐯𝐢𝐞𝐰 – 𝐁𝐞𝐫𝐞𝐧𝐛𝐞𝐫𝐠 𝐄𝐪𝐮𝐢𝐭𝐲 𝐂𝐚𝐩𝐢𝐭𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭𝐬 𝐄𝐮𝐫𝐨𝐩𝐞 As 2024 draws to a close, we would like to thank all our partners for their continued trust placed in Berenberg, allowing us to execute a wide array of private and public capital market transactions and M&A transactions despite the turbulent market environment and a year populated by global elections. Across our European franchise, we raised almost EUR10bn of new equity for various European clients across our key regions.   In the DACH region, secondary placings dominated much of the transaction landscape. Berenberg acted as Global Coordinator on a handful of deals that included the Montana Aerospace sell-down and the placing in ATOSS Software by General Atlantic and CEO-owned AOB Invest as key highlights. Following last year’s IPO in Frankfurt, Berenberg also completed two secondary bookbuilds in IONOS on behalf of Warburg Pincus. In the UK, our network of corporate broking clients continued to trust our sound financial advice. Berenberg completed multiple placings as the sole bank in Trustpilot for Vitruvian and Seed Capital as well as another follow-on transaction in Darktrace for KKR as Joint Bookrunner. In further highlights, Sirius Real Estate and Oxford Nanopore both raised capital with Berenberg leading the respective transactions. Our extension to include public M&A capabilities in our Investment Banking offering enabled us to act as Financial Adviser to Global Ports Holding and Alpha Financial Markets Consulting. In addition, we acted as Corporate Broker and Connected Advisor to Darktrace on its acquisition by Thoma Bravo and Sole Financial Advisor to ETC Holdings on its acquisition of Shanta Gold. In wider Europe, equity capital markets followed much of the same pattern with a limited number of IPOs and capital raisings with activity concentrated amongst monetisation strategies by existing shareholders. Acting as Joint Bookrunner on the IPO of Planisware on Euronext Paris was a particular highlight given that only two IPOs priced in France in 2024.   We remain hopeful of a buoyant and prosperous capital market in 2025 with some elections behind us and potentially easing Central Bank measures.   We wish everyone a Merry Christmas and a wonderful New Year. #berenberg #ipo #capitalmarket #2024   This information is a marketing communication directed at professional clients. Berenberg is authorised by BaFin in Germany and subject to limited regulation by the UK Financial Conduct Authority, firm reference number 959302. All investment banking services involve risk.

M&A activity is poised to pick up in 2024, with a larger role for private credit and greater focus on value creation and growth. Read more here: https://pwc.to/41YPvBA Get in touch if you want to discusss further! Herve Roesch #PwCDeals #ValueCreation #Growth #PrivateCredit

Great article on how PE backed portfolio companies can get exit ready!

The private equity market is bouncing back after a challenging period, and now is the time for portfolio companies to focus on being "exit ready." Getting "exit ready" isn't just about preparing for a sale, it's a health check that can unlock hidden value, address risks, and streamline future processes. IP and data protection readiness play a crucial role in ensuring a smooth sales process and maximising valuation. Our latest article highlights the key considerations for portfolio companies preparing for an exit. https://lnkd.in/endpN-U9

Really practical insights from our private equity sector focused team: the IP and data ‘health check’ recommended for businesses getting ‘exit ready’ and to maximise valuation

Corporates appear to have the upper hand in the current dealmaking environment. But things can change quickly and private equity funds are again eyeing some larger deals. Read more: https://pwc.to/4enzPxD #PwCDeals #PE #PrivateEquity

A round of applause to our new Associate member firms who have joined our strong 90+ AIWM community. AIWM welcomes B&I Capital, BNP Paribas and MA Financial Group! About B&I Capital Pte Ltd B&I Capital is headquartered in Zurich and is a fully regulated Asset Manager under the Swiss FINMA. We also hold a Capital Markets Services license in fund management for institutional and accredited investors under Securities and Futures Act 2001. Our focus is on institutional clients and our services and products are built around the following principles: – Investing in listed real estate with focus on commercial – Focusing on long-term and risk-controlled investment strategies – Providing superb client service – Investing personally on the same terms as our clients Learn more about B&I Capital here: https://lnkd.in/g5P3sfmh // About BNP Paribas BNP Paribas Wealth Management is a leading global private bank and the largest private bank in the Eurozone with €415 billion worth of assets under management as at December 2023. Present in three hubs in Europe, Asia and the Middle-East, it employs over 6,700 professionals who support High-Net-Worth and Ultra-High-Net-Worth individuals in protecting, growing and passing on their assets. The bank aims at building a sustainable future by combining its deep expertise and reach with its clients’ influence and desire for impact. Learn more about BNP Paribas Wealth Management here: https://lnkd.in/giNi9Nn6 // About MA Financial Group Pte Ltd MA Financial Group is an ASX listed diversified financial services firm specialising in managing alternative assets, lending, corporate advisory and equities with a strong focus on growth and innovation. Established in 2009 as a joint venture with NYSE-listed Moelis & Company – a leading global independent investment bank – the firm has grown to become a team of more than 600 across locations in Australia, China, Hong Kong, Singapore and the United States. Our Asset management team currently manages more than $9bn in Assets on behalf of Institutional, High net worth and Retail investors while our Investment bank has advised on over $100 billion of transactions and raised almost $15bn in Equity capital on behalf of clients. Learn more about MA Financial Group here: https://mafinancial.com/ // Want to grow your network and create new business opportunities? Learn more about AIWM's membership! https://lnkd.in/gJfTiBed #AIWM #multifamilyoffice #independentwealth #memberships

🥇 NEW: PitchBook’s latest Fintech & Payments M&A Report is out with new valuation research not done before. Link to the report is below. ⤵️ The heat came off the fintech buyout market in Q2. PE fintech buyouts decelerated to an estimated 12 deals in Q2, down 57% from Q1’s 28 buyouts, and down 37% from Q4’s 19 buyouts. Despite a soft Q2, buyouts in the past 12 months have been healthy, with an estimated 68 fintech deals compared with 2023’s 55, 2022’s 62, 2021’s 104, and 2020’s 72 buyouts. 🌤Lower rates would provide the first leg of a true PE revival, but adding a strong IPO & corporate M&A market would put us closer to 2021 levels. 🐳We expect more large fintech/payments buyouts, despite a lack of acceleration in the buyout count, as evidenced by (1) the acquisitions of Nuvei for $6.2 billion, Worldpay for $12.5 billion, and Coupa for $8.0 billion, (2) the presence of big PE such as Blackstone and Carlyle in the space, (3) and payments' strong revenue growth and margins. 🌊Using PitchBook’s proprietary PE take-private model we identified six publicly traded fintech/payments companies with the highest likelihood of being acquired by PE: nCino (7.7% takeout probability), AvidXchange (6.5%), Euronet Worldwide (5.3%), Corpay (4.7%), Remitly (4.4%), and BILL (4.2%). ☔️Corporate acquisitions remain subdued. Q2 saw 26 estimated corporate deals, compared with 26 in Q1 2024 and 25 in Q2 2023. We predict that corporate M&A will take two or more years to “come back” in full and will be driven by three factors: CEO confidence (heavily influenced by stock price); consistent economic/company operating performance; and FOMO - watching peers make acquisitions. 💵We examined the ratio of acquisition prices to employee head count (a proxy for revenue and profitability) from 2020 to Q2 2024 and payments companies logged the highest median valuation ratio at 1.61x, followed by financial services infrastructure at 1.40x, capital markets at 1.34x, CFO stack at 1.26x, wealthtech at 1.06x, regtech at 0.86x, and finally alternative lending at 0.86x. 🌎B2B (enterprise) payments also outperforms on exit value measures: We compared VC dollars invested in first-time financing rounds to eventual exit value to determine which subsectors generated strong returns for early investors. Enterprise payments led with a 2.1x ratio, followed by regtech at 1.6x, consumer payments at 1.55x, and financial services infrastructure at 1.06x. All other categories were below 1.0x. You can download the report here. https://lnkd.in/eYzBChuB

Corporates appear to have the upper hand in the current dealmaking environment. But things can change quickly and private equity funds are again eyeing some larger deals. Read more: https://pwc.to/4enzPxD #PwCDeals #PE #PrivateEquity

🚀Celebrating a Milestone: Returning Capital to Our Investors - 100% Funded from Our Own Growth!🚀 We are excited to announce a major milestone in our journey: we are returning capital to our early investors, fully funded through internal accruals. As a home grown company, which began operations 7 years ago, we followed the traditional approach of funding our growth from revenues generated. We have simultaneously met the twin objectives of achieving rapid growth combined with building a profitable business. Our focus on developing innovative products has allowed us to meet specific market needs. For example, our Global Bank Accounts empower customers to efficiently manage international payables and receivables. We have built payment highways which facilitate real-time payments in multiple countries across the globe. We cater to consumers, businesses, and financial institutions with an easy-to-use technology platform that delivers an unparalleled customer experience. This capital return highlights the strength of our business model, our disciplined growth approach, and our commitment to sustainability. We are immensely grateful to our investors, customers, and employees for their trust and support in achieving this success. #MilestoneMoment #InvestorAppreciation #SustainableGrowth #LongTermVision #Gratitude #BusinessJourney #GrowthMindset Atul Garg Deepika Deshpande, PhD Sanjiv Malhotra Shefali Garg Sreekrishnaa Srikanthan Rajkumar Muthuswami PMP®Nikhil Agrawal Scott Dale Tony Leung (MAICD)