We’re not there yet, but we can see light at the end of the Covid-19 tunnel. And even at this point, we have glimpses of how the dealmaking world will be both different than and the same as it was before the pandemic shook its foundations. To that end, we’ve marshaled four features for the Q3 Dealmaker Quarterly that offer keen insight into the post-Covid deal landscape. David Marcus contributes a pair of pieces that look at how the pandemic has affected the writing of merger contracts, specifically in material adverse events clauses and “ordinary course of business” covenants.
Tom Terrarosa details how transactions in the chemical industry reflect their sustainable capabilities in the wake of the pandemic-induced recession and growing ESG movement.
Steve Gelsi shows how infrastructure financing following legislation signed by President Biden is likely to come increasingly from private equity rather than traditional sources. And Jonathan Braude reports how limited partners are returning to the secondary market in private equity after general partners held sway during most of Covid.
The other half of this issue of the Dealmaker Quarterly features our 2021 Deal Awards in both the large-cap and middle-market categories, including profiles of four winners: Paul Bird of Debevoise & Plimpton (Large Cap PE Dealmaker of the Year), Sidley Austin (Activist Defense Firm of the Year), Chris Frieden of Alston & Bird (Middle Market Financial Services Dealmaker of the Year) and Guggenheim (Middle Market Energy & Industrials Investment Bank of the Year).
Onto Q4 and a healthy recovery from Covid.
By Ronald Fink, Deputy Managing Editor