Comments (16)

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  • Intern in IB - Gen
Jul 30, 2020 - 3:09pm

2020 YTD SPAC fees: (by Bloomberg via Dealogic)

  • CS: $190M

  • Citi: $106M

  • GS: $105M

  • All others: $426

CS has been leading the way along with Citi and GS. Deutsche was a pioneer of SPACs but has fallen behind as they've gained popularity

  • Analyst 2 in IB - Cov
Jul 30, 2020 - 3:11pm

Yeah. CS really hit the SPAC wave hard and has been building out their team. Great traction and SPAC creds, can pitch themselves as a product leader, but I'm sure GS will close the gap

Jul 30, 2020 - 3:21pm
GreenNewDeal, what's your opinion? Comment below:

CS is top, they hired Niron Stabinsky from DB a few years back who is regarded as leader in the space

Array

  • 2
  • 1
May 11, 2021 - 4:35pm
13sdfq2v3, what's your opinion? Comment below:

Most of these smaller banks just do the IPO, they rarely participate in a meaningful PIPE. They make money getting a few points on the front end of an IPO, then the balance on the backend de-SPAC. EarlyBird also invests in a lot of the sponsor vehicles for the SPAC's they underwrite, so they get additional revenue there.

From a league table perspective, I've laid out the top 10 in 2021 by advisor credit:

Underwriting:

1) Citigroup

2) Goldman Sachs

3) Credit Suisse

4) Cantor Fitzgerald

5) Jefferies

6) Morgan Stanley

7) Deutsche Bank

8) BofA

9) Barclays

10) JP Morgan

DeSPAC Advisors:

1) Morgan Stanley

2) Goldman Sachs

3) Credit Suisse

4) Deutsche Bank

5) JP Morgan

6) Cowen

7) BofA

8) UBS

9) Moelis

10) Barclays

  • Analyst 1 in IB - Cov
May 11, 2021 - 4:46pm

Interesting that Citi is number one in underwriting but nowhere to be found on the DeSPAC side. Anyone know why this is the case? 

CS and Goldman both top 3 in each. 

May 12, 2021 - 11:34pm
moneyszn, what's your opinion? Comment below:

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