Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>KKR & Co. Inc. reported its first quarter 2025 results, showcasing a robust performance and strategic initiatives.</li><li>The fee-related earnings per share increased to $0.92, marking a 22% rise year-over-year, while total operating earnings per share climbed 16% to $1.24.</li><li>Adjusted net income per share noted a 19% uptick to $1.15.</li></ul>

KKR & Co. Inc. reported its first quarter 2025 results, showcasing a robust performance and strategic initiatives.The fee-related earnings per share increased to $0.92, marking a 22% rise year-over-year, while total operating earnings per share climbed 16% to $1.24.Adjusted net income per share noted a 19% uptick to $1.15.

KKR & Co.: Expansion into Retail and Private Wealth Markets Is A Very Interesting New Development!

Asia Real Estate News Tracker, Asia Real Estate Tracker

Asia Real Estate Tracker

Asia Real Estate News Tracker

Tracking developments across Asia's regional real estate markets

<ul><li>KKR has sold Seiyu to Trial Holdings for $2.5 billion, marking a significant deal in the retail industry.</li><li>Real estate firm Savills has appointed Mitsui Fudosan veteran Eiichiro Onozawa to head its Japan business.</li><li>70% of Senior Directors express confidence in data centres, despite concerns over a worsening talent shortage in the sector.</li></ul>

KKR has sold Seiyu to Trial Holdings for $2.5 billion, marking a significant deal in the retail industry.Real estate firm Savills has appointed Mitsui Fudosan veteran Eiichiro Onozawa to head its Japan business.70% of Senior Directors express confidence in data centres, despite concerns over a worsening talent shortage in the sector.

Asia Real Estate Tracker (07-Mar-2025): KKR sells Seiyu to Trial Holdings for $2.5B.

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/taiyo-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:15154:1" rel="noopener">Taiyo Holdings (4626 JP)</a> shares were up 19.1% based on a <a href="https://news.bloombergtax.com/private-equity/taiyo-holdings-gets-buyout-proposals-from-firms-including-kkr" target="_blank" rel="noopener">Bloomberg report</a> that it received privatisation proposals from KKR and Nippon Sangyo Suishin Kiko. </li>
<li>Taiyo confirmed that it has received privatisation offers. The Board would view privatisation as a solution to rid itself of Oasis, which has recently waged an <a href="https://www.corpgovfortaiyo.com/taiyo-corp-gov" target="_blank" rel="noopener">activist campaign</a>. </li>
<li>At the last close price of JPY6,230, Oasis would be up 45.9% on its highest price of JPY4,720. My analysis suggests that an offer around JPY7,000 can be justified.</li>
</ul>



Taiyo Holdings (4626 JP) shares were up 19.1% based on a Bloomberg report that it received privatisation proposals from KKR and Nippon Sangyo Suishin Kiko. 
Taiyo confirmed that it has received privatisation offers. The Board would view privatisation as a solution to rid itself of Oasis, which has recently waged an activist campaign. 
At the last close price of JPY6,230, Oasis would be up 45.9% on its highest price of JPY4,720. My analysis suggests that an offer around JPY7,000 can be justified.


Taiyo Holdings (4626 JP): Privatisation Interest as Oasis Agitates

Independent in-depth research from Finimize, Finimize

Finimize Research

Independent in-depth research from Finimize

Finimize

Finimize is the #1 information platform for modern investors. We empower people to become smarter investors with bitesize insights from world-class analysts. 1 million+ strong community, 250 partners.

Thematic (Sector/Industry)

<ul>
<li>The US economy’s resilience hasn’t come from the many – it’s come from the top 10% as the “wealth effect” from rising asset prices has boosted spending.</li>
<li>But it works in reverse too.  Since the richest make up nearly half of America’s consumer spending, that could lead to a serious economic fallout.</li>
<li>It’s worth considering protecting your portfolio. I’ve pulled together one list of companies that should do well and another that could suffer from the change in climate.</li>
</ul>


The US economy’s resilience hasn’t come from the many – it’s come from the top 10% as the “wealth effect” from rising asset prices has boosted spending.
But it works in reverse too.  Since the richest make up nearly half of America’s consumer spending, that could lead to a serious economic fallout.
It’s worth considering protecting your portfolio. I’ve pulled together one list of companies that should do well and another that could suffer from the change in climate.


A Defensive Portfolio Prepared For The Wealth Effect’s Reversal

Chief Economist & Political Strategist, CrossASEAN Research

Prasenjit K. Basu

Chief Economist & Political Strategist

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Macroeconomics

<ul>
<li>On Election Day, the US faces a Dead Heat. Realclearpolitics predicts a Trump victory, The Economist a narrow Harris win (270-268), similar to fivethirtyeight's tally. Turmoil amid slow counting likely.</li>
<li>A Trump win would be good for conventional energy, banks, PE (via deregulation). Lower oil prices and a 60% tariff on imports from China would benefit Japan, India, Korea, Vietnam. </li>
<li>A Harris win would would be good for housing/property, green energy, semiconductors, negative for equities (as corporate &amp; capital-gains taxes rise) and retailers (anti-price-gouging!). Taiwan, Ukraine, UK, France would gain. </li>
</ul>


On Election Day, the US faces a Dead Heat. Realclearpolitics predicts a Trump victory, The Economist a narrow Harris win (270-268), similar to fivethirtyeight's tally. Turmoil amid slow counting likely.
A Trump win would be good for conventional energy, banks, PE (via deregulation). Lower oil prices and a 60% tariff on imports from China would benefit Japan, India, Korea, Vietnam. 
A Harris win would would be good for housing/property, green energy, semiconductors, negative for equities (as corporate &amp; capital-gains taxes rise) and retailers (anti-price-gouging!). Taiwan, Ukraine, UK, France would gain. 


US: Election Is a Dead Heat, but There'll Be Very Different Winners from Each Outcome

United States

KKR & Co. Inc. operates as an investment firm. The Company manages investments such as private equity, energy, infrastructure, real estate, credit strategies, and hedge funds. KKR & Co serves clients worldwide.

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KKR & Co (KKR US)

KKR & Co.: Expansion into Retail and Private Wealth Markets Is A Very Interesting New Development!

KKR & Co. Inc. reported its first quarter 2025 results, showcasing a robust performance and strategic initiatives. The fee-related earnings...

Baptista Research

Asia Real Estate Tracker (07-Mar-2025): KKR sells Seiyu to Trial Holdings for $2.5B.

KKR sells Seiyu, Savills hires Eiichiro Onozawa, data centre confidence high but talent shortage a concern.

Asia Real Estate Tracker

Taiyo Holdings (4626 JP): Privatisation Interest as Oasis Agitates

The Board would view privatisation as a solution to rid itself of Oasis, which has recently waged an activist campaign. My analysis suggests that...

Arun George

A Defensive Portfolio Prepared For The Wealth Effect’s Reversal

The top 10% account for around 50% of consumer spending in the US. This insight looks at the sectors and companies that could win and lose from the...

Finimize Research

US: Election Is a Dead Heat, but There'll Be Very Different Winners from Each Outcome

RCP predicts a big Trump win, TheEconomist a narrow Harris one. Turnout key for Trump; his win would lower oil prices & hit China, benefitting the...

Prasenjit K. Basu

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