The Deal

It’s normal for a deal of this size to be funded by several backers. They all perform something called "due diligence", over a period of several months, where they satisfy themselves that the information and projections in the business plan are correct, then they all come together to formalize the deal and draw up all the contracts.

Strangely, they do this at night. They start about 7pm and "go on until it’s finished", which is usually as the sun is rising. Why do they do this overnight? I was never really sure, there seemed to be no reason not to do this during the day.

In the end I put it down to Investment Bankers wanting to portray their profession as being very "Macho". Which, clearly, it is not. If someone knows the real reason, please write in.

The session started at 7pm, went on to about 5.30am, at which point everyone drunk champagne. Very Macho, very Boring – a real anticlimax.