This story requires our BI Prime membership. To read the full article,Goldman Sachs has assembled a team of four senior bankers devoted exclusively to building relationships with middle-market private equity firms, a first for the investment banking giant that pits it head-to-head with boutique firms that cater to those clients.
David Friedland, global head of M&A for Cross Markets Group, a division launched in April that's aimed at capturing M&A advisory and finance market share from companies valued at between $500 million and $2 billion, shared the details of the new hires with Business Insider in an interview. "Have we had senior people in our financial sponsor coverage group covering middle market sponsors? Yes," said Friedland. "Have we had multiple people who are going to spend 100 percent of their time covering middle market sponsors? No."The team of four will be finalized on Dec. 9 when David Cohen Mintz officially joins Goldman from Rothschild after more than 15 years.
The team, led by Friedland and Will Bousquette in the Americas, and Rob Pulford in the EMEA, is comprised of both bankers who execute M&A deals and financing arrangements, as well as the industry specialists who support them by attending pitch meetings and offering sector-specific analysis and data. Proving itself has also meant rolling out new services, like a proprietary website only accessible to Goldman's PE clients where they can read curated news and information including deals, fireside chats with executives and industry reports.
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