To recap, an oil shock caused inflation to reach 12.2% in 1974 in the thick of a recession. “In our view, a short period of stagflation, either globally or in select major economies, is of greater likelihood than recession over the next year and a half.”įor startup founders and their investors who may not have lived through what Treasury Secretary Janet Yellen, speaking before Congress, called “ that terrible period” which “no one wants to see again,” let’s take a trip in the time machine back to the era of high inflation and sluggish growth in the 70s and early 80s. “Stagflation-a period of very low growth (usually less than 2%) and high inflation (greater than 2%)-if prolonged, could result in a longer or deeper recession,” the Conference Board said in its mid-2022 outlook. Some economists think a mix of both could be in the cards. in chemistry and physics with honors from Harvard University, and an MBA from Columbia Business School.Today, 60% of CEOs surveyed by the Conference Board foresee a recession by the end of 2023 and 55% expect inflation to stretch into next year. Previously, he was CEO of World Leaders Entertainment. Graf joined Evercore in 2010 from Bank of America Merrill Lynch, where he was a vice president. Graf’s notable deals in GRC include advising New Mountain Capital on its acquisition of Verisk 3E S&P Global on its acquisition of The Climate Service Neustar on its sale to TransUnion Appriss on its sale of Appriss Insights to Equifax symplr on its sale of a stake to Charlesbank Capital Partners Sphera on its sale to Blackstone, Galvanize on its sale to Diligent StarCompliance on its sale to Marlin Equity Wolters Kluwer on its acquisition of eOriginal Nasdaq on its acquisition of Verafin AxiomSL on its sale to Thoma Bravo Intelex on its sale to Fortive Avetta on its acquisition of BROWZ Nasdaq on its divestiture of BWise to SAI Global Opus Global on its sale of Hiperos to Coupa Software Gryphon Investors on its acquisition of RegEd and RDC on its sale to Vista. Power on its sale to Thoma Bravo Definitive Healthcare on its sale to Advent International ProQuest on its minority sale to Atairos Management Astorg Asset Management on its acquisition of Anaqua Hanley Wood on its sale to MidOcean Partners Cox Automotive on its sale of Incadea to Volaris Group Reorg Research on its sale to Warburg Pincus Gartner on its sale of CEB Talent Assessments to Exponent Private Equity Wolters Kluwer on its sale of Corsearch to Audax Private Equity eVestment on its sale to Nasdaq Gartner on its acquisition of CEB on its strategic investment from Silver Lake/GIC UBM on its sale of PR Newswire to GTCR-backed Cision and Dealertrack Technologies on its sale to Cox Automotive. with The NPD Group Real Capital Analytics on its sale to MSCI Clarivate on its acquisition of ProQuest Vivid Seats on its SPAC merger with Horizon Acquisition Edmunds on its sale to CarMax Ontario Teachers’ Pension Plan on its acquisition of Mitratech PWNHealth on its sale to Everlywell Insightful Science on its acquisition of Dotmatics IXL Learning on its acquisition of Rosetta Stone’s Languages division CoreLogic on its sale to Stone Point Capital and Insight Partners Clarivate Analytics on its combination with CPA Global Stratus Video on its sale to AMN Healthcare Services Clarivate Analytics on its acquisition of Decision Resources Group J.D. Graf’s recent transaction experience in data & info services includes advising Clarivate on its sale of MarkMonitor to Newfold Digital Reorg on its sale to Permira Green Street on its sale to TA Associates Great Minds on its minority sale to A-Street Ventures New Mountain Capital and Vestar Capital Partners on their merger of Information Resources Inc. Nathan Graf is a senior managing director at Evercore in the firm’s corporate advisory business, focusing on the data & info services and GRC (governance, risk & compliance) sectors. Strategic Advisory | Mergers and Acquisitions
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