Although the pandemic has created a lot of disruption and uncertainty around M&A and future market conditions, I don’t believe that it will change the fundamentals that we cover in the third edition. In terms of timing, it’s ironic that we released this edition during the current economic crisis. Our first edition was also released during a global financial crisis in Spring 2009, which actually turned out to mark the start of the next decade’s historic bull run.
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- JOSHUA ROSENBAUM is a Managing Director and Co-Head of the Industrials & Diversified Services Group at RBC Capital Markets.
- He originates, structures, and advises on M&A, corporate finance, and capital markets transactions.
- Although the pandemic has created a lot of disruption and uncertainty around M&A and future market conditions, I don’t believe that it will change the fundamentals that we cover in the third edition.
The lessons found within will help you successfully navigate the dynamic world of investment banking, LBOs, M&A, IPOs, and professional investing. Over the coming years, I think unprecedented low interest rates and capital chasing growth and returns will still dominate our landscape. And investment bankers will need the essential toolkit to keep up with deal flow. Also, LBOs have evolved in multiple ways, including the number and types of participants, structures and terms, sources of financing, and expected equity returns.
Creativity is key to unlocking private equity deals
It has become a go-to resource for investment banks, private equity, investment firms, and corporations undertaking M&A transactions, LBOs, IPOs, restructurings, and investment decisions. While the fundamentals haven’t changed, the environment must adapt to changing market developments and conditions. As a result, Rosenbaum and Pearl have updated their widely-adopted book accordingly, turning the latest edition into a unique and comprehensive training package. JOSHUA PEARL is the Founder and Chief Investment Officer of Hickory Lane Capital Management, a long/short equity asset manager. He focuses on public equity investments and special situations utilizing a fundamentals-based approach. From 2011–2020, he served as a Managing Director and Partner at Brahman Capital.
In addition, M&A continues to progress in terms of valuations, process, and legal/contractual terms. Industrial corporates may retain the edge in M&A, but smart solutions are allowing private equity to stay in the game. I really feel that for a five-year hold, where you feel performance is going to be good, you’re going to see very innovative, smart people come up with structured solutions to get deals done. If you’re a private equity seller, the way you do that is to roll a portion of the equity, you maybe take something in the form of an earnout.
Investment Banking: Valuation Models + Online Course
JOSHUA ROSENBAUM is a Managing Director and Head of the Industrials & Diversified Services Group at RBC Capital Markets, where he also serves on the Management Committee for the U.S. He originates, structures, and advises on M&A, corporate finance, and capital markets transactions. Previously, he worked at UBS Investment Bank and the International Finance Corporation, the direct investment division of the World Bank. He received his AB from Harvard and his MBA with Baker Scholar honors from Harvard Business School. He is also the co-author of The Little Book of Investing Like the Pros. JOSHUA ROSENBAUM is a Managing Director and Co-Head of the Industrials & Diversified Services Group at RBC Capital Markets.
Investment Banking: Valuation, LBOs, M&A, and IPOs (Book + Valuation Models), 3rd Edition
JOSHUA ROSENBAUM is a Managing Director and Head of the Industrials & Diversified Services Group at RBC Capital Markets. Now, over 10 years after the release of the first edition, the book is more relevant and topical than ever. The book has sold over 250,000 copies and is used in over 200 universities globally.
Investment Banking, 3rd Edition by Joshua Rosenbaum, Joshua Pearl
You get creative to get to a headline price of multiple that works for you. The WORKBOOK, which parallels the main book chapter by chapter, contains over 500 problem-solving exercises and multiple-choice questions. This joshua rosenbaum rbc website is using a security service to protect itself from online attacks. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data.
Previously, he structured high yield financings, leveraged buyouts, and restructurings as a Director at UBS Investment Bank. He received his BS in Business from Indiana University’s Kelley School of Business. JOSHUA PEARL is a Managing Director at Brahman Capital, a long/short equity asset manager. JOSHUA PEARL has served as a Managing Director at Brahman Capital, a long/short equity asset manager. Joshua Rosenbaum is a Managing Director and Head of the Industrials & Diversified Services Group at RBC Capital Markets. He is a frequent speaker on M&A, capital markets and investment banking, providing unique and timely insight on sector trends, valuation and outlook.