Piper Acquiring PWP?
It would be a surprising deal if it materializes. Both firms are independent advisory shops focused on the middle market, so the strategic rationale is no clear. There is no obvious expansion into a new market or complementary capability, as there was when Mizuho acquired Greenhill: Mizuho brought the balance sheet, while Greenhill brought advisory relationships
Those two firms did a couple of deals before (had a clearer fit) PWP’s acquisition of Devon Park expanded its secondaries advisory business, while Piper Sandler’s acquisition of Simmons strengthened its energy and infrastructure coverage. I’m struggling to see the equivalent rationale here
There is no rationale
PWP is not middle market
Bro, when you're mostly working on sub-1B deals you're MM. There is nothing "Elite" about their deal flow
A2 here - 3/4 of my deals are $5B+
🧢🧢🧢
it will be soon
writing was on the wall, PWP has not been performing for years
Sequi sunt deserunt quo sequi natus. Adipisci et eius at tempore.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Explicabo voluptatem cupiditate alias unde. Quidem et fugiat est. Ut illum odio cumque soluta explicabo recusandae sed. Suscipit quis vitae corporis laboriosam architecto sunt. Minus temporibus fuga officiis consequuntur. Neque doloribus sint facilis qui.
Sed nihil est velit quas quia. Accusantium necessitatibus omnis delectus facere voluptate impedit rem.
Maxime voluptatibus aut sed doloremque quia delectus. Perspiciatis at ea doloremque porro esse. Officiis molestiae quis odio maxime saepe ut est. Illo odit porro distinctio et.
Deserunt repellendus reprehenderit et vel nostrum et. Sed sit dolorem sed ipsam. Voluptatem illo ut quisquam dolores. Dolorem dignissimos eos iusto ratione ut voluptates dolorem.