LazardLemonade

Lazard vs Lemonade

Lazard Ltd. and Lemonade Inc. are examined side by side to explain their business models, financial performance, and the market context in which they operate. This page compares strategy, revenue stre...

Which Baskets Do They Appear In?

Private Market Liquidity: Could Goldman's Move Signal?

Private Market Liquidity: Could Goldman's Move Signal?

Goldman Sachs' acquisition of Industry Ventures for nearly $1 billion signals a strategic push by major financial players into the growing venture capital secondary market. This development suggests a broader investment opportunity among asset managers and service providers poised to benefit from the increasing demand for liquidity in private markets.

Published: October 14, 2025

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Banking Consolidation Europe: Might UniCredit Spark Wave?

Banking Consolidation Europe: Might UniCredit Spark Wave?

Italian banking giant UniCredit is considering the sale of its significant stake in Germany's Commerzbank, potentially to a buyer outside the European Union. This development could trigger a wave of consolidation and acquisition activity across the European banking sector, creating opportunities for strategic investors and advisory firms.

Published: September 15, 2025

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European Banking M&A

European Banking M&A

UniCredit's major stake in Commerzbank signals the start of European banking consolidation. Our experts have selected companies positioned to benefit from this wave, including potential M&A targets and the investment banks that will earn fees from these deals.

Published: July 10, 2025

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The Dealmakers: M&A Boom

The Dealmakers: M&A Boom

A carefully selected group of financial institutions driving today's surge in mergers and acquisitions. These companies are the architects behind billion-dollar deals, earning significant fees as corporate dealmaking accelerates.

Published: June 30, 2025

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Megadeal Mania

Megadeal Mania

The world of big business deals is booming, with global merger activity up 30% to $1.89 trillion. This collection features the financial powerhouses behind these massive transactions – the investment banks, advisory firms, and private equity giants that stand to profit from the deal-making surge.

Published: June 30, 2025

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Banking & Finance Powerhouses

Banking & Finance Powerhouses

Invest in the cornerstones of the global economy. These carefully selected financial titans form the backbone of worldwide commerce and capital flow, chosen by our analysts for their market dominance and potential to benefit from changing economic conditions.

Published: June 17, 2025

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Investment Analysis

Pros

  • Record adjusted net revenue growth in both Financial Advisory and Asset Management segments for the first nine months of 2025.
  • Strong shareholder returns with $295 million returned via dividends and buybacks in the first nine months of 2025.
  • Positive net asset inflows and 17% year-to-date increase in total assets under management, supporting long-term growth.

Considerations

  • High debt-to-equity ratio of nearly 200%, which may constrain financial flexibility and increase risk during downturns.
  • Earnings and revenue growth are closely tied to volatile capital markets and M&A activity, making performance cyclical.
  • Dividend yield is attractive but may be pressured if advisory revenues decline in a weaker economic environment.

Pros

  • Diversified insurance product portfolio across multiple geographies, including the US, Europe, and the UK.
  • Technology-driven platform enables rapid customer acquisition and operational efficiency in the insurance sector.
  • Significant upside potential if market share gains accelerate and profitability improves in newer insurance lines.

Considerations

  • Negative price-to-earnings ratio indicates ongoing losses, raising concerns about near-term profitability.
  • Valuation multiples are substantially higher than sector averages, increasing risk if growth slows or fails to materialise.
  • Analyst consensus suggests significant downside to current price targets, reflecting cautious sentiment on future performance.

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