For investors, Covid-19 has divided businesses into winners and losers and, with returns elsewhere looking thin, they are hungry for the equity of the winners. That helped to make this year’s second quarter one of the busiest on record for Jefferies’s European equity capital markets (ECM) team.
In the year to early September, the team completed 32 European ECM deals. It raised more than $6bn for its clients, with 90% of that after the Covid-19 crisis began. Many of the winners are clustered in the technology and health sectors, both Jefferies’s specialities. European winners are especially attractive to US investors, which also plays to the strengths of this US-headquartered investment bank.
