This little bank is cleaning up in 2015's hottest sector for M&A
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The boutique, started in 2006 by Blair Effron has racked up $270 million or so in deal fees relating to pharmaceuticals and healthcare, according to consulting firm Freeman & Co.
That only accounts for deals that have closed. Centerview added another $20 million to $25 million to that haul on Monday, by advising US biotech Dyax on its sale to Shire.
As a result, the bank is making a run on the biggest advisors in the industry.
"In the US Healthcare M&A league tables, we actually have Centerview ranked #3, behind only Goldman and JPMorgan," says Jeffrey Nassof, vice president with Freeman & Co.
Centerview ranked third, last year, according to Freeman & Co. and fourth in 2013.
Nassof went on to say that, counting deals like Dyax, Centerview's total haul just for healthcare and pharma advisory for the year will likely surpass the $300 million mark.
Here is a quick sampling of Centerview's biggest deals in the sector, according to Freeman & Co. estimates:
- In August, Celgene's $7.2 billion deal to buy out biotech firm Receptos netted Centerview a payday of about $55 million - this, thanks to its being the exclusive advisor on the deal.
- Centerview split the advisory role (and, fees) with JPMorgan when Valeant spent $16 billion to buy Salix Pharmaceuticals. It was worth $48 million to the boutique bank.
- Centerview and JPMorgan again split the role advising Pharmacyclics in its $20 billion sale to Abbvie. That deal generated about $41 million in fees for Centerview.
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