IC (Investment committee) memo vs IM (information memorandum)

Hello everybody,

Please can somebody tell if there is and what is the difference between an information memorandum and an investment committee memorandum? What are they? How, why, when, by who and for who are they created?

Thank you for your time and kind response.

2 Comments
 

An IM is a sell side document that is prepared by an advisor/IB to pitch the business to a group of potential buyers.

An IC paper is a document prepared by buyside investment teams to be used for internal purposes. This document usually includes the investment thesis, returns, risks and summary of diligence materials.

IC approval is almost always a prerequisite before formal legal documents to buy a business can be executed.

 

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