Few major deals happen without the engagement and advice of investment bankers. Whether a company is undertaking an initial public offering (IPO) or engaging in a large merger or acquisition deal, investment bankers play a critical role in advising corporate executives. Bankers routinely cultivate and build close advisory relationships with executives in the hopes that… Read More »
Modern capital markets facilitate the separation of ownership and control. This allows shareholders to diversify their portfolios and firms to undertake value-generating projects regardless of their level of idiosyncratic risk. However, the universal push for diversification often means that shareholders do not bear sufficient risk to incentivize them to monitor the firms in their portfolios.… Read More »
For an industry built around “diversification,” we still have plenty of work to do to apply the concept to our investment teams. We know that if you restrict a portfolio, you can’t always maximize performance, so isn’t it reasonable to consider that the same might hold for talent diversity and team performance? The composition of… Read More »
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