Greenhill & Co., Inc. (NYSE:GHL) Q4 2022 Earnings Call Transcript

Scott Bok: Yes. Look, I think financing markets, I do expect, frankly, that they will continue to improve. But I mean they’ve got a long way to go to get back to being kind of available for everybody. So I think credit markets will be discerning, what I would call discerning for a good while. And I think there will be more sponsors and companies that we’ll be able to get financing. But there are going to be many that won’t be able to — I mean, certainly, you look at how quite the leveraged loan market has been. I mean that will is starting to open, but it’s opening not to everybody. So I think, frankly, my expectation. And of course, my hope for 2023 is I think there will be considerably more restructuring-type opportunities than they were in 2022.

But I also think we’re going to have a better M&A market off a relatively low base. And obviously, that would be the Goldilocks scenario for us and many of our peers. And I think if you just look at the way the markets are evolving, I think that’s a real possibility. Thank you. And that was our last question. I appreciate everybody dialing in, and we look forward to speaking to you again next quarter, if not before.

Operator: And ladies and gentlemen, with that, we’ll conclude today’s call and presentation. We thank you for joining. You may now disconnect your lines.