Centerview Cleaning it up
CVP on Pfizer’s and Sanofi’s deals announced today.
Also advising Silvergate and SVB on their respective bankruptcies. This is more of a surprise.
What are they doing so well?
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They’ve historically dominated biopharma and some of the partners own the relationships with Pfizer and Sanofi.
However, these restructuring mandates are pretty surprising in my view.
They don't do diversity hiring. It's a pure meritocracy there.
they def do diversity hiring.
"Centerview actively participates in diversity recruiting."
Source: Centerview Partners website
As if it's totally the non-diversity analysts/associates hired who are bringing in these deals!
Bro if you want to wear your cute little spooky ghost costume and pointed hat just do it, don’t be shy!
I’ve heard that associates are generalists. Is that correct? How on earth do they advise on high profile deals if the junior team is not specialised? Also, do they pitch ideas books or only execute?
Centerview has a strong relationship with Pfizer, just look at the deals on their website
Good team
Point still stands though - CVP's seniors have very close relationships with Pfizer and Sanofi as well and have advised on numerous transactions involving Pfizer both for Pfizer and on the other side of the table (ex advised Pfizer on its acquisition of Arena Pharma). A strong relationship to Pfizer also makes them more likely to win a transaction on the other side of the table since the seniors have amicable relationships with Pfizer officials which helps with negotiations/familiarity.
Just happens to be right place and good timing. CVP has always been strong in biotech, Stuart Smith is one of the strongest large-cap HC services bankers around, and the firm has longstanding relationships with both Emerson Electric (courtesy of Gayle Turk) and Credit Suisse (courtesy of both Tadhg Flood and Effron himself). Just so happens that over the past couple of months large-cap biotech dealflow has popped off compared to a relatively quiet 2022, the Oak Street/CVS deal gets announced (which Smith was always going to be on given his credentials), Emerson Electric undergoes two large M&A deals in late 2022/early 2023, and CS decides to explode.
Centerview also advised CS on the UBS merger.
Not sure what that actually involved, but both the FT and Bloomberg reported it.
CVP's been advising CS on their strategic alternatives all of last year and their relationship actually goes back several years, so not too surprising.
They were also advising Deutsche Bank on the contemplated merger with Commerzbank. So yeah they everywhere
Makes sense - Flood was formerly Co-Head of FIG at DB.
Why is the same person with 3 accounts repeatedly hyping up Centerview / Eric Tokat every week on this forum? You guys had a solid 3 months to start 2023, we get it haha
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