GLOBAL M&A MARKET REVIEW
GLOBAL M&A MARKET REVIEW
FINANCIAL RANKINGS
1Q 2020
CONTENTS
1. Introduction 2. Global M&A Heat Map 3. Global M&A Regional Review 4. Global M&A League Tables 5. Americas M&A Regional Review 6. Americas M&A League Tables 8. EMEA M&A Regional Review 9. EMEA M&A League Tables 12. APAC M&A Regional Review 13. APAC M&A League Tables 16. Disclaimer
1Q 2020
GLOBAL M&A FINANCIAL ADVISORY RANKINGS
The Bloomberg M&A Advisory League Tables are the definitive publication of M&A advisory rankings. The tables represent the top financial and legal advisors across a broad array of deal types, regions, and industry sectors. The rankings data is comprised of mergers, acquisitions, divestitures, spin-offs, debt-for-equityswaps, joint ventures, private placements of common equity and convertible securities, and the cash injection component of recapitalization according to Bloomberg standards.
Bloomberg M&A delivers real-time coverage of the M&A market from nine countries around the world. We provide a global perspective and local insight into unique deal structures in various markets through a network of over 800 financial and legal advisory firms, ensuring an accurate reflection of key market trends. Our quarterly league table rankings are a leading benchmark for legal and financial advisory performance, and our Bloomberg Brief newsletter provides summary highlights of weekly M&A activity and top deal trends.
Visit {NI LEAG CRL } to download copies of the final release and a full range of market specific league table results. On the web, visit: .
Due to the dynamic nature of the Professional Service product, league table rankings may vary between this release and data found on the Bloomberg Professional Service.
DATA SUBMISSIONS AND QUERIES
North America EMEA Asia Pacific
Contact
Nageen Qasim Madeeha Ahmad EeWen Tay
Phone
+1-646-324-2878 +44-20-3525-3754 +65-6231-3404
Email
nqasim1@ mchaudhry13@ etay26@
General M&A queries may be submitted to: m-a@, malondon@, maasia@
?2020 Bloomberg Finance L.P. All rights reserved. 1
2
Global M&A Review | 1Q2020
Global M&A Regional Review
? Global merger and acquisition activity reached $655.5 billion in 1Q2020, representing a 31.5% decrease compared to the same period last year. The Industrial sector experienced massive growth with deal activity reaching a high of $93.0 billion, an increase of 39.1% compared to the same period last year. The pending acquisition of Willis Towers Watson PLC by Aon PLC/UK for $31.4 billion was the largest transaction globally.
? Private equity activity decreased by 23.9% year-on-year to $217.1 billion in transactions. The United States was the most acquisitive country in 1Q2020, accounting for 45.0% of the global private equity volume. The pending sale of thyssenkrupp Elevator AG for $18.9 billion was the largest private equity deal in the region.
Global M&A: Premium Breakdown
0% 3%
8% 24%
19%
0-10% 10-25% 25-50% 50-75%
75-100%
46%
100%+
Summary Number of deals Volume (Bln.) Avg Deal Size (Mln.)
Top Adviser Goldman Sachs & Co Number of deals Volume (Bln.) Avg Deal Size (Bln.)
Global M&A: Highlights of 1Q2020
10,794 $655.5
$60.7
75 $189.9
$2.5
Date
3/9/20 2/28/20 2/20/20 3/3/20 2/3/20
Target
Willis Towers Watson PLC
Acquirer
Aon PLC/UK
Seller
-
thyssenkrupp Elevator AG
Multiple Acquirers
thyssenkrupp AG
E*TRADE Financial Corp
Morgan Stanley
-
QIAGEN NV
Thermo Fisher Scientific Inc
-
Ingenico Group SA
Worldline SA/France
-
Total Value
Global M&A: Industry Breakdown
Amount
% YoY
Industry
(Bln.) % of Total Change
Financial
$31,439.7
Industrial
$243.1 $93.0
37.1% 14.2%
15.4% 38.3%
Consumer Non-cyclical
$18,921.7
Technology
$82.6 $67.5
12.6% 10.3%
-67.3% -32.5%
Consumer Cyclical
$14,507.7
Communications
$66.0 $35.6
10.1% 5.4%
-3.5% -58.5%
Basic Materials
$11,019.9
Energy
$28.0 $26.0
4.3% 4.0%
-76.2% -44.6%
Utilities
$10,650.4
Diversified
$8.4
1.3% -22.8%
$5.0
0.8% 619.1%
$1,400 $1,200 $1,000
$800 $600 $400 $200
$0 2015 Q1
Global M&A: Quarterly Volume
2016 Q1
2017 Q1
Volume $(Bln.)
2018 Q1
2019 Q1 Deal Count
Global M&A: Deal Type Breakdown
14,000 Deal Type
Amount % Change % Change (Bln.) Deal Count Volume
12,000 Company Takeover
$373.4
-8.0% -22.6%
10,000 Cross Border
$250.3
-8.2% -16.9%
8,000 Private Equity
$217.1
-1.6% -23.9%
6,000 4,000 2,000 0 2020 Q1
Asset sale Tender Offer Venture Capital Spin-off Minority purchase Majority purchase
$107.5 $69.9 $58.0 $11.1
$102.6 $40.3
2.9% -2.9% 10.9% -17.4% 1.2% -16.4%
-23.8% 107.1%
10.7% -77.3% -16.2% -70.6%
Quarterly Volume represents any involvement (target, seller, or acquirer).
3
Global Announced Deals
FIRM Goldman Sachs & Co LLC JPMorgan Chase & Co Morgan Stanley Barclays PLC Citigroup Inc Credit Suisse Group AG Rothschild & Co UBS AG BofA Securities Inc Lazard Ltd Deutsche Bank AG Nomura Holdings Inc Evercore Inc Ernst & Young LLP Societe Generale SA Centerview Partners LLC Macquarie Group Ltd HSBC Bank PLC BNP Paribas SA Moelis & Co TOTAL
MKT SHR RANK (%)
2020 VOLUME USD
(Mln)
1
29.0
189,911
2
22.6
148,437
3
20.4
133,917
4
9.8
64,013
5
9.5
61,938
6
9.4
61,355
7
9.2
60,203
8
8.4
54,886
9
7.7
50,536
10
6.7
43,863
11
5.0
32,886
12
4.6
30,239
13
4.0
26,345
14
3.9
25,746
15
3.6
23,656
16
3.1
20,382
17
3.1
20,019
18
2.8
18,566
19
2.7
17,592
20
2.5
16,508
655,534
DEAL COUNT
01/01/2020 - 03/31/2020
2019 MKT SHR MKT SHR
RANK (%)
CHANGE
75
2
32.0
-3.0
67
1
32.1
-9.5
68
3
30.1
-9.7
35 12
5.9
3.9
42
4
27.9
-18.4
29 10
7.8
1.6
65 14
3.8
5.4
29 19
2.6
5.8
49 5
16.6
-8.9
40 15
3.7
3.0
18 22
2.4
2.6
31 42
0.5
4.2
37 6
16.6
-12.5
51 25
1.6
2.4
7 65
0.2
3.4
15 11
6.4
-3.3
14 57
0.3
2.8
11
9
8.6
-5.8
19 13
4.5
-1.8
24
7
11.5
-9.0
10,793
Global Private Equity Announced Deals
2020
MKT SHR VOLUME USD
FIRM
RANK (%)
(Mln)
Goldman Sachs & Co LLC
1
33.9
73,641
JPMorgan Chase & Co
2
21.6
46,771
UBS AG
3
13.1
28,331
Morgan Stanley
4
12.1
26,295
Citigroup Inc
5
11.7
25,387
Lazard Ltd
6
11.6
25,215
Deutsche Bank AG
7
9.9
21,442
Rothschild & Co
8
9.6
20,751
Nomura Holdings Inc
9
9.5
20,591
Ernst & Young LLP
10
9.3
20,080
Macquarie Group Ltd
11
9.1
19,640
Barclays PLC
12
8.8
18,992
BofA Securities Inc
13
7.7
16,747
Evercore Inc
14
4.6
10,016
Credit Suisse Group AG
15
3.6
7,734
Qatalyst Partners LLC
16
3.5
7,540
Wells Fargo & Co
17
3.0
6,471
Raymond James & Associates Inc
18
2.5
5,513
Jefferies LLC
19
2.3
5,086
Guggenheim Capital LLC
20
2.3
5,000
TOTAL
217,059
DEAL COUNT
01/01/2020 - 03/31/2020
2019 MKT SHR MKT SHR
RANK (%)
CHANGE
36
1
34.1
-0.2
18
2
33.5
-12.0
15
7
6.0
7.1
31
4
31.9
-19.8
17
5
28.3
-16.6
10 18
1.5
10.1
8 17
1.8
8.1
27 10
4.6
5.0
6 26
0.8
8.7
27 16
2.3
6.9
8 44
0.2
8.8
20
9
4.8
4.0
19
3
32.8
-25.1
19 19
1.5
3.2
14
8
4.8
-1.3
2 13
4.1
-0.6
5 23
0.8
2.1
17 69
0.1
2.5
23 11
4.5
-2.1
4 69
0.1
2.2
3,769
Cross Border Announced Deals
FIRM
MKT SHR RANK (%)
2020 VOLUME USD
(Mln)
Goldman Sachs & Co LLC
1
33.3
83,315
JPMorgan Chase & Co
2
25.2
63,145
UBS AG
3
15.5
38,860
Rothschild & Co
4
13.7
34,334
Barclays PLC
5
13.4
33,477
Lazard Ltd
6
11.1
27,859
BofA Securities Inc
7
9.9
24,833
Morgan Stanley
8
9.8
24,559
Deutsche Bank AG
9
8.9
22,197
Ernst & Young LLP
10
8.7
21,850
Nomura Holdings Inc
11
8.7
21,789
Citigroup Inc
12
8.2
20,541
Macquarie Group Ltd
13
7.6
19,126
Greenhill & Co Inc
14
4.3
10,631
HSBC Bank PLC
15
3.7
9,237
Evercore Inc
16
2.8
6,929
Credit Suisse Group AG
17
2.7
6,626
Wells Fargo & Co
18
2.5
6,324
BNP Paribas SA
19
1.7
4,252
PricewaterhouseCoopers LLP
20
1.6
4,056
TOTAL
250,253
DEAL COUNT
01/01/2020 - 03/31/2020
2019 MKT SHR MKT SHR
RANK (%)
CHANGE
34
1
18.3
15.0
33
3
12.4
12.9
15 10
6.4
9.2
44
9
7.0
6.7
20 13
4.8
8.6
17 6
7.3
3.8
26 2
13.1
-3.1
29 5
11.5
-1.7
10 12
4.9
3.9
35 22
3.0
5.7
15 35
0.9
7.8
19 4
11.9
-3.6
6 45
0.5
7.2
3 34
0.9
3.4
8 18
3.9
-0.2
14 21
3.2
-0.5
11 8
7.0
-4.4
2 24
1.9
0.6
13 28
1.3
0.4
53 31
1.0
0.6
3,768
4
Global M&A Review | 1Q2020
Americas M&A Regional Review
? Deal activity in the Americas reached a volume of $314.1 billion in 1Q2020 resulting in a 38.9% decrease compared to the same period last year. This quarter recorded the lowest deal volume since 1Q2014. The United States contributed 85.7% the region's total and continued to be most targeted country for M&A transactions.
? The financial sector was the most the most targeted industry in the region accounting for approximately 42.7% of the overall deal volume. The announced acquisition of Willis Towers Watson PLC by Aon PLC for $31.4 billion was the largest transaction on record within the financial sector.
? Private equity activity decreased by 6.7% year-on-year to $109.0 billion in transactions.
Americas M&A: Country Breakdown
Amount
% YoY
Country
(Bln.) % of Total Change
United States
$269.3
85.8% -41.8%
Canada
$24.2
7.7% -23.1%
Bermuda
$9.3
3.0% 862.7%
Brazil
$5.0
1.6% -13.0%
Mexico
$1.1
0.4% -43.3%
British Virgin Islands
$0.6
0.2% -74.8%
Chile
$0.2
0.1% -86.9%
Colombia
$0.1
0.0% -90.0%
Summary Number of deals Volume (Bln.) Avg Deal Size (Mln.)
Top Adviser Goldman Sachs & Co Number of deals Volume (Bln.) Avg Deal Size (Bln.)
Americas M&A: Highlights of 1Q2020
4,769 $313.9
$65.8
Date 3/9/20 2/20/20
Target Willis Towers Watson
PLC
E*TRADE Financial Corp
Acquirer Aon PLC/UK
Morgan Stanley
Seller -
Total Value (Mln.)
$31,439.7
-
$14,507.7
3/3/20
41 $113.0
$2.8
3/3/20 2/17/20
QIAGEN NV
PartnerRe Ltd Bombardier Transportation
Thermo Fisher Scientific Inc
-
$11,019.9
Covea Finance SAS EXOR NV
$9,000.0
Alstom SA
Bombardier Inc
$8,200.0
Americas M&A: Industry Breakdown
Amount
% YoY
Industry
(Bln.) % of Total Change
Financial
$134.0
43.1% 31.0%
Consumer Non-cyclical
$48.0
15.4% -77.9%
Industrial
$36.8
11.8% 75.3%
Technology
$33.8
10.9% -50.4%
Consumer Cyclical
$25.3
8.1% -24.2%
Energy
$13.7
4.4% -38.4%
Communications
$12.9
4.1% -16.0%
Basic Materials
$4.8
1.5% -84.9%
Utilities
$1.3
0.4% -69.6%
Diversified
$0.5
0.2% 9796.3%
$1,000 $800 $600 $400 $200 $0 2015 Q1
Americas M&A: Quarterly Volume
2016 Q1
2017 Q1
2018 Q1
2019 Q1
Volume $(Bln.)
Deal Count
Quarterly Volume represents any involvement (target, seller, or acquirer).
7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 2020 Q1
Americas M&A: Deal Type Breakdown
Amount % Change % Change
Deal Type
(Bln.) Deal Count Volume
Company Takeover
$201.0
-4.9% -41.5%
Cross Border
$85.4
-3.7% -39.2%
Private Equity
$108.8
-9.7% -6.9%
Asset sale
$56.9
8.3% -29.4%
Tender Offer
$18.8 -13.3% -14.2%
Venture Capital
$36.5 -10.0% 22.7%
Spin-off
$0.2 -14.3% -92.1%
Minority purchase
$39.4 -11.2% -25.8%
Majority purchase
$10.2 -14.5% -61.8%
5
US Announced Deals (Any Involvement)
2020
MKT SHR VOLUME USD
FIRM
RANK (%)
(Mln)
Goldman Sachs & Co LLC
1
39.1
141,856
JPMorgan Chase & Co
2
29.7
108,027
Morgan Stanley
3
29.0
105,286
Credit Suisse Group AG
4
13.7
49,592
Citigroup Inc
5
13.0
47,290
Lazard Ltd
6
11.1
40,218
Barclays PLC
7
10.3
37,414
BofA Securities Inc
8
9.6
35,030
UBS AG
9
9.0
32,781
Deutsche Bank AG
10
7.8
28,151
Rothschild & Co
11
7.1
25,602
Evercore Inc
12
6.9
25,059
Macquarie Group Ltd
13
5.4
19,726
Nomura Holdings Inc
14
5.4
19,593
Ernst & Young LLP
15
5.4
19,537
Centerview Partners LLC
16
5.3
19,104
Moelis & Co
17
4.4
15,977
PJT Partners Inc
18
3.8
13,705
Wells Fargo & Co
19
2.8
10,275
Guggenheim Capital LLC
20
2.6
9,255
TOTAL
363,191
DEAL COUNT
01/01/2020 - 03/31/2020
2019 MKT SHR MKT SHR
RANK (%)
CHANGE
50
2
32.9
6.2
42
1
38.7
-9.0
48
4
27.4
1.6
21
9
11.9
1.7
29
5
26.7
-13.7
29 16
4.1
7.0
27 11
8.9
1.4
41 8
13.9
-4.2
17 28
1.0
8.0
12 19
2.5
5.3
26 24
2.1
5.0
32 3
28.0
-21.1
8 78
0.0
5.4
4 44
0.3
5.1
13 27
1.1
4.3
12 10
10.7
-5.4
20 6
18.4
-14.0
10 13
5.2
-1.4
7 25
1.7
1.1
7 26
1.7
0.9
5,114
Canada Announced Deals (Any Involvement)
2020
MKT SHR VOLUME USD
FIRM
RANK (%)
(Mln)
National Bank Financial Inc
1
33.2
14,590
Morgan Stanley
2
26.3
11,582
Rothschild & Co
3
24.9
10,965
UBS AG
4
23.4
10,275
Citigroup Inc
5
20.8
9,164
HSBC Bank PLC
6
20.0
8,791
Goldman Sachs & Co LLC
7
19.4
8,535
Rockefeller Capital Management LP
8
18.6
8,200
Societe Generale SA
8
18.6
8,200
Bank of Nova Scotia/The
10
13.0
5,717
RBC Capital Markets
11
11.7
5,165
JPMorgan Chase & Co
12
11.4
5,006
CIBC
13
8.6
3,769
TD Securities Inc
13
8.6
3,769
BMO Capital Markets Corp/Toronto
15
6.6
2,904
Barclays PLC
16
4.7
2,075
Jefferies LLC
16
4.7
2,075
Greentech Capital Advisors LLC
18
3.7
1,612
Centerview Partners LLC
19
2.7
1,200
Houlihan Lokey Inc
19
2.7
1,200
TOTAL
43,985
DEAL COUNT
01/01/2020 - 03/31/2020
2019 MKT SHR MKT SHR
RANK (%)
CHANGE
11 27
1.4
31.8
9
6
15.5
10.8
5
-
-
24.9
3
9
13.7
9.7
5
3
26.1
-5.3
2
-
-
20.0
7
1
37.4
-18.0
1
-
-
18.6
1
-
-
18.6
8 33
0.5
12.5
9 16
5.5
6.3
3 11
11.1
0.3
4
7
15.3
-6.8
2
5
18.5
-9.9
7
2
27.2
-20.6
4 13
7.6
-2.9
3 22
1.9
2.9
1
-
-
3.7
1 28
1.0
1.7
2 56
0.0
2.7
895
US Announced Deals (Target or Seller)
2020
MKT SHR VOLUME USD
FIRM
RANK (%)
(Mln)
Goldman Sachs & Co LLC
1
37.7
111,408
Morgan Stanley
2
33.4
98,741
JPMorgan Chase & Co
3
27.5
81,226
Credit Suisse Group AG
4
15.4
45,332
Citigroup Inc
5
13.2
38,910
Barclays PLC
6
10.7
31,528
Evercore Inc
7
8.5
25,059
BofA Securities Inc
8
8.0
23,673
Centerview Partners LLC
9
6.5
19,104
Lazard Ltd
10
5.5
16,191
Moelis & Co
11
5.4
15,977
PJT Partners Inc
12
4.6
13,705
Wells Fargo & Co
13
3.5
10,275
UBS AG
14
3.2
9,383
Guggenheim Capital LLC
15
3.1
9,255
Stifel Financial Corp
16
2.9
8,647
Deutsche Bank AG
17
2.9
8,524
Qatalyst Partners LLC
18
2.6
7,540
Jefferies LLC
19
2.4
7,205
Piper Sandler & Co
20
2.1
6,324
TOTAL
295,244
DEAL COUNT
01/01/2020 - 03/31/2020
2019 MKT SHR MKT SHR
RANK (%)
CHANGE
43
2
33.3
4.5
42
4
30.0
3.5
36
1
40.7
-13.2
18 10
9.9
5.5
25
5
28.5
-15.3
22 11
8.1
2.6
29 3
31.4
-22.9
32 9
10.1
-2.1
12 8
12.5
-6.1
18 15
4.7
0.8
18 6
20.7
-15.3
10 14
4.9
-0.3
7 28
0.8
2.7
13 72
0.0
3.1
7 22
1.5
1.7
27 23
1.1
1.8
8 20
1.7
1.2
2 18
2.6
-0.1
28 16
3.7
-1.3
26
-
-
2.1
4,193
Canada Announced Deals (Target or Seller)
2020
MKT SHR VOLUME USD
FIRM
RANK (%)
(Mln)
National Bank Financial Inc
1
47.7
14,537
Citigroup Inc
2
29.0
8,844
HSBC Bank PLC
3
28.8
8,791
Rockefeller Capital Management LP
4
26.9
8,200
Societe Generale SA
4
26.9
8,200
Rothschild & Co
4
26.9
8,200
UBS AG
4
26.9
8,200
Morgan Stanley
8
25.9
7,895
Goldman Sachs & Co LLC
9
17.9
5,450
RBC Capital Markets
10
16.9
5,165
JPMorgan Chase & Co
11
16.4
5,006
Bank of Nova Scotia/The
12
13.4
4,078
CIBC
13
12.4
3,769
TD Securities Inc
13
12.4
3,769
BMO Capital Markets Corp/Toronto
15
4.2
1,292
Centerview Partners LLC
16
3.9
1,200
Houlihan Lokey Inc
16
3.9
1,200
Credit Suisse Group AG
16
3.9
1,200
Maxit Capital LP
19
2.5
761
Gleacher Shacklock LLP
20
2.5
761
TOTAL
30,495
DEAL COUNT
01/01/2020 - 03/31/2020
2019 MKT SHR MKT SHR
RANK (%)
CHANGE
10 18
3.1
44.6
4
3
39.7
-10.7
2
-
-
28.8
1
-
-
26.9
1
-
-
26.9
1
-
-
26.9
2 11
5.4
21.5
5
7
16.5
9.4
3
4
34.9
-17.0
8
9
10.4
6.5
2 10
7.5
9.0
6 23
0.7
12.7
3
8
12.5
-0.2
2
2
41.8
-29.4
6
1
43.0
-38.8
1 19
2.2
1.7
2 46
-
3.9
2 11
5.4
-1.4
2 34
0.1
2.4
1
-
-
2.5
597
6
Latin America Announced Deals (Any Involvement)
2020
MKT SHR VOLUME USD DEAL
FIRM
RANK (%)
(Mln)
COUNT
01/01/2020 - 03/31/2020
2019 MKT SHR MKT SHR
RANK (%)
CHANGE
BofA Securities Inc
1
12.4
1,124
2 16
2.6
9.8
Banco Bradesco BBI SA
2
11.8
1,070
5
8
5.4
6.4
BR Partners
3
11.1
1,006
3 22
1.4
9.7
Morgan Stanley
4
9.7
878
3
1
22.4
-12.7
Banco Itau BBA SA
5
7.6
690
13 11
4.2
3.4
JPMorgan Chase & Co
6
7.2
647
16
7.3
-0.1
BNP Paribas SA
7
5.7
516
1 12
4.0
1.7
CRG Partners Group LLC
7
5.7
516
1
-
-
5.7
Rothschild & Co
9
5.0
455
35
8.8
-3.8
Ernst & Young LLP
10
5.0
453
3
-
-
5.0
G5 Partners
11
4.6
413
2 21
1.8
2.8
Jefferies LLC
12
4.4
400
2 32
-
4.4
Goldman Sachs & Co LLC
13
4.1
370
22
15.8
-11.7
Citigroup Inc
14
3.3
299
34
11.6
-8.3
Banco Safra SA
15
3.0
268
1
-
-
3.0
RBC Capital Markets
16
2.8
249
2
-
-
2.8
Moelis & Co
17
2.6
235
2 32
-
2.6
HSBC Bank PLC
17
2.6
235
1 26
0.7
1.9
Bank of Nova Scotia/The
19
2.0
184
2 13
3.8
-1.8
Banco Santander SA
20
1.7
153
2
3
13.2
-11.5
TOTAL
9,047
206
Latin America Announced Deals (Target or Seller)
2020
MKT SHR VOLUME USD DEAL
FIRM
RANK (%)
(Mln)
COUNT
01/01/2020 - 03/31/2020
2019 MKT SHR MKT SHR
RANK (%)
CHANGE
BofA Securities Inc
1
30.6
3,676
3
3
11.3
19.3
Lazard Ltd
2
21.6
2,592
3 25
1.0
20.6
Credit Suisse Group AG
3
21.3
2,552
2 21
1.8
19.5
Houlihan Lokey Inc
3
21.3
2,552
1
-
-
21.3
Swiss Credit Bank
3
21.3
2,552
1
-
-
21.3
Banco Bradesco BBI SA
6
8.9
1,070
5 10
4.6
4.3
BR Partners
7
8.4
1,006
3 24
1.2
7.2
Morgan Stanley
8
7.3
878
3
1
13.7
-6.4
Banco Itau BBA SA
9
5.8
690
13 13
3.6
2.1
JPMorgan Chase & Co
10
5.4
647
1
9
6.2
-0.8
Rothschild & Co
11
5.2
630
4
7
7.5
-2.2
BNP Paribas SA
12
4.3
516
1 14
3.4
0.9
CRG Partners Group LLC
12
4.3
516
1
-
-
4.3
Ernst & Young LLP
14
3.8
453
1
-
-
3.8
G5 Partners
15
3.4
413
2 23
1.5
1.9
Jefferies LLC
16
3.3
400
14
9.1
-5.8
Goldman Sachs & Co LLC
17
3.1
370
22
13.4
-10.3
Citigroup Inc
18
2.5
299
38
7.1
-4.6
Banco Safra SA
19
2.2
268
1
-
-
2.2
RBC Capital Markets
20
2.1
249
2
-
-
2.1
TOTAL
12,005
235
Brazil Announced Deals (Any Involvement)
FIRM
MKT SHR RANK (%)
2020 VOLUME USD
(Mln)
Banco Bradesco BBI SA
1
15.7
1,070
BR Partners
2
14.7
1,006
Morgan Stanley
3
12.9
878
BofA Securities Inc
4
12.1
825
Banco Itau BBA SA
5
10.1
690
JPMorgan Chase & Co
6
9.5
647
BNP Paribas SA
7
7.6
516
CRG Partners Group LLC
7
7.6
516
Rothschild & Co
9
6.7
455
Ernst & Young LLP
10
6.6
453
G5 Partners
11
6.1
413
Goldman Sachs & Co LLC
12
5.4
370
Banco Safra SA
13
3.9
268
RBC Capital Markets
14
1.0
65
Lazard Ltd
15
0.6
40
PricewaterhouseCoopers LLP
16
-
-
XP Investimentos Corretora de Cambio Titul
16
-
-
Moelis & Co
16
-
-
Vinci Partners Investimentos Ltda
16
-
-
DEAL COUNT
01/01/2020 - 03/31/2020
2019 MKT SHR MKT SHR
RANK (%)
CHANGE
5
3
15.6
0.1
3 13
4.0
10.8
3
2
17.3
-4.4
1 12
4.9
7.2
10
7
7.0
3.1
1
-
-
9.5
15
11.5
-4.0
1
-
-
7.6
31
25.2
-18.5
1
-
-
6.6
2 10
5.1
1.0
1
-
-
5.4
1
-
-
3.9
1
-
-
1.0
1
-
-
0.6
1
-
-
-
1
-
-
-
1 19
-
-
1 19
-
-
TOTAL
6,830
110
Brazil Announced Deals (Target or Seller)
FIRM
MKT SHR RANK (%)
2020 VOLUME USD
(Mln)
Morgan Stanley
1
16.8
878
Banco Itau BBA SA
2
13.2
690
JPMorgan Chase & Co
3
12.4
647
BNP Paribas SA
4
9.9
516
CRG Partners Group LLC
4
9.9
516
Rothschild & Co
6
8.7
455
Ernst & Young LLP
7
8.7
453
G5 Partners
8
7.9
413
Goldman Sachs & Co LLC
9
7.1
370
Banco Safra SA
10
5.1
268
Banco Bradesco BBI SA
11
4.7
245
BR Partners
12
3.5
181
RBC Capital Markets
13
1.2
65
Lazard Ltd
14
0.8
40
PricewaterhouseCoopers LLP
15
-
-
XP Investimentos Corretora de Cambio Titul
15
-
-
Moelis & Co
15
-
-
Vinci Partners Investimentos Ltda
15
-
-
DEAL COUNT
01/01/2020 - 03/31/2020
2019 MKT SHR MKT SHR
RANK (%)
CHANGE
3
2
18.6
-1.8
10
7
7.5
5.6
1
-
-
12.4
1
5
12.4
-2.5
1
-
-
9.9
3
1
27.0
-18.4
1
-
-
8.7
2 10
5.4
2.5
1
-
-
7.1
1
-
-
5.1
4
3
16.7
-12.0
2 13
4.3
-0.8
1
-
-
1.2
1
-
-
0.8
1
-
-
-
1
-
-
-
1 19
-
-
1 19
-
-
TOTAL
5,237
99
7
................
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