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Morgan Stanley led asset management, i-banking common equity advisers in 2018

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Morgan Stanley led asset management, i-banking common equity advisers in 2018

Editor's note: S&P Global Market Intelligence has reclassified industries according to the Global Industry Classification Standard. The league table Data Dispatch articles are now based on the new industry classification and are not comparable with 2017 and prior league table Data Dispatch articles.

Asset management and investment banks, brokers and capital markets

Morgan Stanley landed roles on two fourth-quarter 2018 offerings, and they helped the company take the top spot in the 2018 common equity underwriter deal value and number-of-deals rankings for asset managers, investment banks, brokers and capital markets firms.

One of the fourth-quarter 2018 deals was Bain Capital Specialty Finance Inc.'s $151.9 million initial public offering. Morgan Stanley also worked as a book manager on a $1.22 billion follow-on offering for AXA Equitable Holdings Inc. The investment bank finished 2018 with deal credit of $2.90 billion from 14 offerings.

Goldman Sachs Group Inc. secured the top spot for debt underwriter rankings for the asset management, investment banks, brokers and capital markets sectors for 2018 by deal value with deal credit of $16.97 billion across 112 offerings.

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Specialty finance and mortgage REIT

Morgan Stanley also topped the number-of-deals and deal credit common equity league tables for the specialty finance and mortgage real estate investment trust space for 2018.

During the fourth quarter of 2018, the investment bank was among book managers on New York Mortgage Trust Inc.'s $87.8 million follow-on offering and AGNC Investment Corp.'s $786.2 million follow-on offering. For full year 2018, Morgan Stanley earned deal credit of $999.2 million from 13 offerings.

Bank of America Corp. secured the top spot for debt adviser underwriter rankings for the specialty finance and mortgage REIT sectors through 2018 by deal value with deal credit of $7.17 billion across 119 offerings.

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Financial technology and payments

Bank of America led the number-of-deals and deal credit league tables for debt offerings in the financial technology and payments sectors with deal credit of $2.61 billion from 42 offerings. During the fourth quarter of 2018, the company was among book managers on two $400 million senior debt offerings by Moody's Corp.

Goldman Sachs Group topped the common equity league table for the financial technology and payments sectors by deal value for 2018 with deal credit of $1.12 billion from six offerings. Morgan Stanley, which ranked second, earned deal credit of $1.11 billion from four offerings.

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