Podcast
The Pipeline: M&A and IPO Insights
Hosted by Joe Mantone · EN
S&P Global Market Intelligence leverages its industry sources, data and analysis to discuss M&A, IPOs and all things dealmaking. Tune in for interviews with industry insiders who offer insights on the latest deal trends.
11episodes
Episodes
Newest firstAll episodes
The challenges the SEC and high-profile companies face with the IPO market
4w ago00:33:36Tap to summarizeJay Ritter has spent decades studying IPOs, and he has become a go-to source on the topic for policymakers and journalists alike. Ritter joined the Pipeline podcast to discuss his work as the director of the IPO Initiative at the University of Florida, the SEC's efforts to increase IPOs, and some challenges that companies like SpaceX and OpenAI will likely face if they execute their anticipated high-profile IPOs.
Transcribe →Dealing in an uncertain M&A environment
Mar 2700:29:26Tap to summarizeKevin Desai, PwC's US and Mexico deals leader, joined The Pipeline podcast to discuss how recent market volatility is impacting M&A. The increase in uncertainty can give buyers and sellers pause as they face a more complicated financing picture and lower valuations. Desai said earnouts and stake sales are steps sellers can take to create some liquidity in the near term while putting themselves in a position to benefit from some upside down the road. For buyers, Desai said it can still make sense to pursue transactions that are truly transformational or help them deal with competitiveness in their market.
Transcribe →Taking a scientific approach to studying IPOs
Feb 2700:18:16Tap to summarizeChris Fenske, the head of capital markets research in S&P Global Market Intelligence's primary markets group, joined The Pipeline podcast to discuss his unique approach to studying the health of the IPO market. Rather than creating an index, Fenske creates a portfolio of companies, and this allows him to take a granular look at leaders and laggards. Fenske also spoke about what the recent market volatility means for the IPO outlook, why AI hyperscalers can hold off on going public and how his biochemistry degree helps him in the world of financial services. More S&P Global Market Intelligence Content: Fenske's research: 2025 US IPO Performance Starts with a Roar and Ends with a Whimper Webinar: M&A in Focus: Dealmakers' Discussion on the 2026 Outlook Credits: Host: Joe Mantone Guest: Chris Fenske
Transcribe →IPO window widening; the importance of equity research
Jan 2900:22:40Tap to summarizeOn the latest episode of The Pipeline podcast, Mark Lehmann, vice chair of Citizens Financial Group Inc.'s commercial bank, said he expects to see a broader subset of companies pursue initial public offerings in 2026. Lehmann also talked about his company's equity‑research approach, which involves having analysts dive deep into a narrow portion of growth‑oriented sectors, and how his law degree helps him in the world of financial services. More S&P Global Market Intelligence Content: Webinar: M&A in Focus: Dealmakers' Discussion on the 2026 Outlook Market Intelligence research: Big Picture 2026 M&A Outlook: Big deals drive resurgence Webinar: The State of the Middle Market Credits: Host: Joe Mantone Guest: Mark Lehmann
Transcribe →Cross-border M&A hotspots emerge from a 'vortex of volatility'
Nov 2600:37:16Tap to summarizeTariffs have created operating challenges that have slowed cross-border M&A, but deal activity is starting to increase, according to Paul Aversano, the practice leader for Alvarez & Marsal's global transaction advisory group. Aversano recently joined The Pipeline podcast to discuss cross-border M&A trends and noted that uncertainty is the biggest obstacle to the deals. He added that regulatory approval of the cross-border transactions has gotten more challenging in recent years, but deals are coming to market. Three areas that are helping produce the transactions are the Middle East, Japan and India. More S&P Global Market Intelligence Content: Market Intelligence research: Big Picture 2026 M&A Outlook: Big deals drive resurgence Webinar: The State of the Middle Market Webinar: Dealmaking Amid High Volatility Credits: Host: Joe Mantone Guest: Paul Aversano
Transcribe →Discussing the key drivers behind a big deal quarter for the large banks
Oct 2000:20:02Tap to summarizeThe dealmaking downturn that started in 2022 has weighed on investment banking revenue, but the third quarter produced good results in the M&A advisory and capital markets underwriting businesses for the large US investment banks. RBC Capital Markets analyst Gerard Cassidy joined the Pipeline to discuss the results, the risks that could slow dealmaking and the importance of financial sponsors to the investment banks. Cassidy also touched on Wells Fargo's goal of becoming a top-five investment bank, and St. John's goal of returning to the Final Four of the men's college basketball NCAA tournament. More S&P Global Market Intelligence Content: M&A in Focus Webinar: The State of the Middle Market Webinar: M&A in Focus: Dealmaking Amid High Volatility Market Intelligence news: Wells Fargo new hires advise on PNC Financial's FirstBank acquisition Credits: Host: Joe Mantone Guest: Gerard Cassidy Published With Assistance From: Kyle Cangialosi and Patrick Moroney
Transcribe →Regulatory environment offers some near- and long-term positives for the IPO market
Sep 3000:31:27Tap to summarizeIn this episode of the Pipeline podcast, Eddie Best, a partner at Willkie Farr & Gallagher LLP and co-chair of the firm's capital markets practice, discusses how the regulatory-friendly business environment is helping to open the IPO window. Best also examines how reducing reporting requirements and tailoring SEC rules to the size of companies can alleviate regulatory burdens for publicly traded companies. He points out that lowering compliance costs could encourage more companies to consider going public. However, while easing regulations might benefit the IPO landscape, Best notes that this must be balanced against investor protection and the need for transparency. More S&P Global Market Intelligence Content: Webinar: M&A in Focus: Dealmaking Amid High Volatility Oct. 9 M&A in Focus Webinar: The State of the Middle Market Market Intelligence news: Wells Fargo new hires advise on PNC Financial's FirstBank acquisition Credits: Host: Joe Mantone Guest: Eddie Best Published With Assistance From: Sophie Carr, Patrick Moroney and Alison Perico
Transcribe →M&A strategy shifting in the healthcare services space
Aug 2900:33:43Tap to summarizeIn this episode of The Pipeline podcast, Anu Singh, a managing director in Kaufman Hall's M&A practice, discusses the outlook for transactions in healthcare services and how the dealmaking strategy is changing to focus on strategic partnerships instead of just creating scale through consolidation. Singh expects private equity to remain interested in the space, especially on the physician side, but he added that regulators will likely continue to scrutinize market concentration. Overall, Singh sees dealmaking in healthcare services as being on the rise and anticipates that the activity will return to pre-COVID levels in 2026. More S&P Global Market Intelligence Content: Webinar: M&A in Focus: Dealmaking Amid High Volatility Balance sheet, M&A and capital raising strategies for a volatile environment Navigating M&A Trends During Market Volatility Credits: Host: Joe Mantone Guest: Anu Singh Published With Assistance From: Sophie Carr, Patrick Moroney and Alison Perico
Transcribe →M&A Outlook Brightens as Financial Sponsors Prepare to Ramp Up Activity
Jul 1600:24:41Tap to summarizeIn this episode of The Pipeline podcast, Devin Ryan, an equity research analyst with Citizens JMP, provided insights into the current state and future prospects of mergers and acquisitions. Following a record-breaking year in 2021, the M&A landscape faced significant challenges in 2022 and 2023. However, Ryan expressed optimism that 2023 may represent a low point and activity is getting closer to more normal levels. A key factor in the recovery is the role of private equity firms and whether they start deploying more dry powder. More S&P Global Market Intelligence Content: Webinar: M&A in Focus: Dealmaking Amid High Volatility Price tags on biggest M&A deals grow larger in 2025 Balance sheet, M&A and capital raising strategies for a volatile environment Navigating M&A Trends During Market Volatility Credits: Host: Joe Mantone Guest: Devin Ryan Published With Assistance From: Sophie Carr, Patrick Moroney, Alison Perico and Feranmi Adeoshun
Transcribe →How Tariff Turbulence is Impacting the M&A Market
Jun 3000:16:44Tap to summarizeIn this episode of The Pipeline, S&P Global Market Intelligence's Joe Mantone speaks with Carole Streicher, the deal advisory and strategy service group leader for KPMG in the U.S., to discuss the evolving landscape of M&A activity amidst changing economic conditions. They discuss the initial pause in M&A due to tariffs, which introduced significant economic uncertainty, and how companies are now reassessing their supply chains and considering geographic expansion as a strategic response. Streicher shares insights from KPMG's recent mid-year M&A survey, revealing that despite the challenges posed by tariffs, dealmakers remain optimistic about M&A prospects for 2025 and 2026, driven by favorable tax policies and antitrust initiatives from the current administration. The conversation highlights the complexities introduced by tariffs, which not only add costs and time to deals but also complicate the valuation process. The episode also addresses sector-specific trends, noting that industrial manufacturing and consumer retail are most impacted by tariffs. Streicher emphasizes the increasing activity in the energy sector, driven by the growing demand for energy, particularly in relation to the AI revolution. Looking ahead, they discuss the critical need for thorough due diligence and scenario modeling in navigating the current M&A landscape. Join this insightful discussion that offers valuable perspectives on the current and future state of M&A, providing essential information for deal practitioners. More S&P Global Market Intelligence Content: Webinar: M&A in Focus: Dealmaking Amid High Volatility Balance sheet, M&A and capital raising strategies for a volatile environment Four $10B-plus deals in May contribute to M&A revival Navigating M&A Trends During Market Volatility Host: Joe Mantone Guest: Carole Streicher Edited By: Marz Marcello Published With Assistance From: Sophie Carr, Patrick Moroney, Feranmi Adeoshun, and Alison Perico
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