Profile: Greenhill & Co., Inc. (GHL.N)

Greenhill & Co., Inc., incorporated in March 2004, is an independent investment banking firm. It provides financial advice on significant mergers, acquisitions, restructurings and similar corporate finance matters, as well as its fund placement services for private equity and other financial sponsors, and manages merchant banking funds and similar vehicles and commits capital to those funds and vehicles. The Company acts for the clients worldwide from offices in New York, London, Frankfurt, Toronto, Tokyo, Dallas, San Francisco and Chicago. Its principal sources of revenue are financial advisory and merchant banking.

Financial Advisory

The Company’s financial advisory business consists of mergers and acquisitions, financing advisory and restructuring, and fund placement advisory. In mergers and acquisitions, the Company provides a range of advice to clients in relation to domestic and cross-border mergers, acquisitions, and similar corporate finance matters. It advises clients on matters, including acquisitions, divestitures, defensive tactics, special committee assignments and other important corporate events, valuation, tactics, industry dynamics, structuring alternatives, timing and pricing of transactions, and financing alternatives. In financing advisory and restructuring practice, the Company advises debtors, creditors and companies experiencing financial distress, as well as potential acquirers of distressed companies and assets. It provides advice on valuation, restructuring alternatives, capital structures, and sales or recapitalizations. In fund placement advisory practice, the Company assists private equity funds and other financial sponsors in raising capital from a global set of institutional and other investors. Financial advisory revenues accounted for 98% during 2008.

Merchant Banking and Other

Merchant banking activities consist primarily of management of and investment in Greenhill’s merchant banking funds, Greenhill Capital Partners I (GCP), Greenhill Capital Partners II, Greenhill SAV Partners (GSAVP) and Greenhill Capital Partners Europe, which are families of merchant banking funds that invest in portfolio companies. Merchant banking funds are private investment funds raised from contributions by qualified institutional investors and financially sophisticated individuals. GCP invests its capital in the energy, financial services and telecommunications industries. GSAVP makes smaller investments in early-growth-stage companies that offer technology-enabled or business information services. Merchant banking and other revenue accounted for 2% during 2008.

The Company competes with Bank of America Corporation, Citigroup Inc., Credit Suisse Holdings (USA), Inc., Goldman Sachs Group, Inc., JPMorgan Chase & Co., Morgan Stanley, UBS A.G., Blackstone Group, Evercore Partners Inc., Jefferies Group, Inc., and Lazard Ltd.