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Our annual review includes deal highlights, case studies, and commentary from each of the sectors we operate in. We look at trends we saw in 2016, and what we believe will be key considerations and trends throughout 2017.
We mention some of our highlights of 2016 which included further growth of the firm in terms of services and geographic reach. The JCRA team grew to a team of 60, and we appointed Lionel Kruger, to focus specifically on infrastructure within sub-Saharan Africa – a relatively new market for JCRA, and Shripal Shah who joined as Head of Real Estate Debt Advisory. The bringing together of the ex-Cannaccord Genuity Social Housing team and JCRA in April led to the creation of one of the strongest social housing treasury and debt advisors in Europe. Combined with the Peel Hunt collaboration that launched in October, this has expanded our offering across a wider scope of DCM engagements and allows us to deliver an end-to-end service and expertise to our clients not on offer anywhere else in the market.
This past year was particularly noteworthy due to the nature and variety of the exposures advised on and we also saw a notable increase in requests to assist in managing FX risk. One area that has been successful across JCRA’s geographies and sectors has been the application of our sophisticated systems to quantify the ancillary valuation adjustments associated with hedging positions. In doing these calculations of credit (CVA), debt (DVA), margin (MVA), funding (FVA) and liquidity value adjustments (LVA) (collectively known as XVA), we have been able to achieve sizable discounts on restructuring legacy swaps positions as was the case for the Seigneurie de Beaupré transaction. Other notable transactions include the Teesside MGT Biomass project; the biggest Biomass plant in the world which involved all aspects of our derivative expertise in interest rate, inflation and FX risk.
Equally rewarding as these large, innovative transacitons, are the vanilla advisory engagements for mid-sized private companies; ensuring they are equipped with the information required to navigate their hedging decision and execute on the best terms possible, particularly when they are not familiar with the terms and technical language involved.
See more on what we believe will be key trends in real estate, private equity, project finance, student accommodation, healthcare and social housing in 2017 in our 2016/17 Review.
Have you got a question about how you hedge your financial risks, or structure and arrange your debt?
Find out how we can help you by contacting us today.