At a glance
- The team, led by Michael Flynn, was set up in July as an expansion of the bank's middle market coverage to transactions valued at $100 million to $500 million, according to 9fin.
- For allocators underwriting private credit managers, that raises a concrete diligence question: whether the bank's direct lending arm and its small-cap coverage bankers work the same $100 million to $500 million transactions. 9fin's episode with Flynn covers the role of the bank's direct lending arm in small-cap advisory work.
- The small-cap segment has long run on its own network of specialist investment banks, small sponsors and direct lenders, 9fin said. 9fin said a slowdown in M&A, particularly in the sponsor market, has pushed industry players down-market in search of places to deploy capital.
J.P. Morgan added four managing directors to its small-cap investment banking team on Oct. 27, bringing headcount to 12 bankers, 9fin reported.
The team, led by Michael Flynn, was set up in July as an expansion of the bank's middle market coverage to transactions valued at $100 million to $500 million, according to 9fin.
For allocators underwriting private credit managers, that raises a concrete diligence question: whether the bank's direct lending arm and its small-cap coverage bankers work the same $100 million to $500 million transactions. 9fin's episode with Flynn covers the role of the bank's direct lending arm in small-cap advisory work.
The small-cap segment has long run on its own network of specialist investment banks, small sponsors and direct lenders, 9fin said. 9fin said a slowdown in M&A, particularly in the sponsor market, has pushed industry players down-market in search of places to deploy capital.
Flynn's conversation with 9fin's Tom Quinn also covers why the segment is growing now and the issues founders face that are specific to smaller companies, according to 9fin.
Reported by the Direct Lending desk from 9fin. Published . Corrections