Goldman, Sachs & Co. has led the auction block league tables since inception. Is there any reason to believe it will give up its lead now, so soon before the end of our inaugural season (which spans the 2008 calendar year)? None whatsoever. There are few sure things in life (death, taxes and economic recession, among others) but you can just about take this one to the, uh, bank.
Goldman even managed to extend its lead with two new clients. Finding bidders for one (CB Realty Finance) is sure to be tough given the nature of its business. But that's another story for another day; we just track hires. What becomes of the auction is entirely different (though of course if firms like Goldman were never able to engineer exits they probably wouldn't get hired as much as they do).
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Auction Advisers League Table
Week ending Nov. 14 |
| This Week |
Last Week |
Firm |
Total hires |
New clients since last update (target, if different from client) |
| 1 |
1 |
Goldman, Sachs & Co. |
25 |
CB Richard Ellis (CB Realty Finance) |
| |
|
|
|
WellCare Health Plans Inc. |
| 2 |
2 |
Banc of America Securities LLC |
19 (13*) |
Digital Ally Inc. |
| 3 |
3 |
Morgan Stanley |
13 |
|
| 4 |
4 |
J.P. Morgan Chase & Co. |
10 |
|
| 5 |
5 |
UBS Securities |
9 |
Atlas Pipeline Holdings LP (Atlas Pipeline Partners LP) |
| |
7 |
Barclays plc |
9 (7**) |
Minrad International |
| 7 |
5 |
Jefferies & Co. Inc. |
8 |
|
| |
9 |
Houlihan Lokey Howard & Zukin |
8 |
Evergreen Energy Inc. |
| |
|
|
|
Heelys Inc. |
| 9 |
7 |
Rothschild |
7 |
|
| 10 |
9 |
Tristone Capital |
6 |
|
| 11 |
11 |
Greenhill & Co. |
5 |
|
| |
11 |
CIBC World Markets Inc. |
5 |
|
| |
11 |
RBC Capital Markets |
5 |
|
| |
|
|
|
|
| |
|
|
|
|
** Merrill Lynch & Co. clients
**Lehman Brothers Holdings Inc. clients
Source: TheDeal
|
There is plenty of other hire activity to report beyond Goldman, however. Distressed mavens Houlihan Lokey continues its climb up the table with two new hires. A distressed specialist is to this market what a pawn shop is to Las Vegas: right place, right time, right situation. The respective industries of Houlihan's new clients are telling as well: alternative energy (Evergreen Energy Inc.) and niche retail (Heelys Inc.).
The most interesting race (barring further mergers, that is) will be for fourth place. No fewer than five firms are within the spot currently occupied by J.P. Morgan Chase & Co. with 10 new hires on the year. Figure Houlihan to perhaps be best positioned to make a run, though Barclays plc (Lehman Brothers Holdings Inc.) and UBS Securities are showing signs of life too. Morgan Stanley booked two new clients the last time out, but J.P. Morgan has been radio silent for some time. It will be interesting for sure.
This is the penultimate version of the auction block league tables. The final standings will run in the Dec. 15 annual year-in-review special print edition of The Deal and will be updated in this space after the new year. - Nathaniel Baker
Auction Block League Tables: Goldman Sachs ends tumultuous October on top
