Overview
[1] ‘Global Market Intelligence’, S&P, January 12 2021
Search criteria measured as the last twelve-month dollar volume of loans defaulted divided by the total loans outstanding
[2] ‘Global Market Intelligence’, S&P, January 12 2021
Search criteria measured as the last twelve-month leverage loan market
[3] ‘Global Market Intelligence’, S&P, January 12 2021
Search criteria measured as the last twelve-month leverage loan market
[4] ‘Global Market Intelligence’, S&P, January 12 2021
Search criteria measured as the last twelve-month leverage loan market
[5] ‘Federal Reserve sets stage for earlier, faster interest rate hikes as inflation soars’, USA Today, December 15 2021
[6] “NVCA Q4 2021 Venture Monitor”, Pitchbook, January 14 2022
[7] “NVCA Q4 2021 Venture Monitor”, Pitchbook, January 14 2022
[8] Welcome to the big SPAC slowdown, CNN, 25 August 2021
[9] Mergermarket, January 18 2022
Search criteria - Target Geography: USA, Buyer Geography: Japan (region), 1/1/2020 - 12/31/2020 and 1/1/2021 - 12/31/2021
[10] ‘Hitachi Completes Acquisition of GlobalLogic’, GlobalLogic, July 14 2021
[11] ‘Panasonic Completes Acquisition of Blue Yonder’, BlueYonder, September 17 2021
[12] Okabe Co., Ltd. Announces the Acquisition of Vimco Manufacturing, Okabe, 7 October 2021
[13] ‘Official: Japan hopes to lead Asian zero-emissions push’, AP News, January 18 2022
Sector commentary
[1] ‘Defense Budget Materials – FY2021’, Under Secretary of Defense, January 16 2021
[2] ‘Private equity firms’ $714bn in dry powder set to surge even higher in 2022’, Financial News, January 16 2022
[3] ‘2021 was a blowout year for M&A - 2022 could be even bigger’, KPMG, January 16 2022
[4] ‘2022 Defense Budget’, Military benefits, January 16 2022
[5] ‘Defense Budget Materials – FY2021’, Under Secretary of Defense, January 16 2021
[6] ‘Business Service Market Monitor’, Meridian Capital, January 18 2021
[7] ‘‘Business Service Market Monitor’, Meridian Capital, January 18 2021
[8] ‘Black Box: Sales and traffic aren’t the only challenges for restaurants as guest sentiment takes a hit’, National Restaurant News, January 20 2022
[9] ‘Food Price Outlook, 2022’, U.S. Department of Agriculture, January 24 2022
[10] Mergermarket, January 18 2021
Search criteria: Target Sector – Restaurants/Pubs, Target Geography – USA, Announced date range - Last 5 years (10/11/2016 — 12/31/2021)
[11] Mergermarket, January 18 2021
Search criteria: Target Sector – Restaurants/Pubs, Target Geography – USA, Announced date range - Last 5 years (10/11/2016 — 12/31/2021)
[12] ‘Restaurants and Branded Hospitality TYOTR’, Piper Sandler, January 2 2022
[13] ‘Food Price Outlook, 2022’, U.S. Department of Agriculture, January 24 2022
[14]‘Panera Bread to go public again in IPO backed by Shake Shack founder's SPAC’, Reuters, November 9 2021
[15] ‘Ares-Backed Restaurant Chain Cooper’s Hawk Plans 2022 IPO’, Bloomberg, January 11 2022
[16] Mergermarket, January 25 2022
Search criteria: US Education deals up to $1bn, 01/01/2021-12/31/2021
[17] ‘US Tax Legislation’, Deloitte, January 21 2022
[18] ‘The Death of EdTech IPOs? Sector Rotations and Stock Declines from LTM Highs’, Christopher Nyren, January 18 2022
[19] ‘Multi-Industry Sector 2022 Outlook’, RBC Capital Markets, December 15 2021
[20] ‘Multi-Industry Sector 2022Outlook’, RBC Capital Markets, December 15 2021
[21] 'Proptech Fundraising Soars to Record Highs in 2021', WSJ, November 23 2021
[22] 'Future City: Proptech unicorns multiplying', The Real Deal, December 7 2021
[23] 'Red-hot housing market fuels mortgage borrowing record', Fox Business, January 2 2022
[24] ‘US PE Breakdown 2021’, Pitchbook, January 11 2022
[25] ‘Harvey Nash / KPMG CIO Survey 2020: Everything changed. Or did it?’, KPMG, September 30 2022
[26] ‘Spending on digital transformation technologies and services worldwide from 2017 to 2025’, Statista, November 30 2021
[27] ‘QAD Inc. to be Acquired by Thoma Bravo for $2 Billion’, THOMABRAVO, June 28 2021
[28] Körber and KKR form strategic partnership to build a global supply chain software champion, PR Newswire, 14 December 2021
[29] ‘PitchBook Analyst Note: 2022 US Private Equity Outlook’, Pitchbook, December 16 2021