2020 put all of us to the test. The nature and severity of the pandemic demanded a quick response at the beginning of the year with a focus on delivering capital solutions that helped our clients cope with the worst effects of the pandemic and the lockdowns. From the start of the third quarter, companies and investors that were able to pursue growth opportunities took a more pragmatic approach and resumed deal-making activity, often conducting deal processes remotely.

We expect that the vaccine and increased visibility on what is ahead will fuel interest in strategic investments during 2021, either to add new capabilities and embrace technological disruption or to pursue sector consolidation opportunities. For those who are still suffering from the effects of the pandemic, there will be a renewed demand for liquidity, either through equity or debt.

The past few months have renewed our belief that full, independent advisory services, aligned with the interests of our clients and investors are essential to delivering the right solutions across economic cycles. This is why we were able to deliver strong results in our three business divisions with c. 120 deals in Investment Banking, over €12bn transacted in Credit Portfolio Advisory and continued investment performance and new strategies in our Alternative Asset Management business. Our unique proposition has also helped us continue our growth plans by completing strategic partnerships between our businesses and highly reputable institutions and attracting 90 highly talented professionals to our Firm, including 15 new partners, to launch projects in key sectors such as technology, energy transition and infrastructure.