Mickelson Investment Management is a boutique alternative investment provider for high-networth investors, family offices, and institutional investors.
Our client-centric ethic guides how we manage our portfolios, resulting in an emphasis on transparency, investor advocacy, and risk management. Our deep, in-house resources include a team of experienced professionals who represent operational insight plus process expertise. Mickelson’s extensive entrepreneurial experience is key to appraising businesses in underlying deals, and our extensive transaction experience ensures best terms and efficient management.
The Current Opportunity in PIPEs
PIPE transactions (Private Investment in Publicly Traded Equity) are a growing and Increasingly important segment of the capital markets. Properly executed, they can be beneficial both for the company seeking financing and the investor providing it.
A typical PIPE deal is one in which a publicly traded company exchanges convertible debt or equity with a private investor for an infusion of cash into the company treasury.
Since the late 1990s, this corner of the capital markets has evolved into an important niche. According to industry experts PrivateRaise, just over 1,000 PIPE transactions were recorded in 2009, raising a total of $38.5 billion for cash-hungry companies. This compares favorably to a mere 10 years ago, when 688 deals generated just over $10 billion in sought after capital.