Lighthouse North America, March 2023

Morrow Sodali is pleased to share the latest edition of Lighthouse North America. In this issue:

1. DIRECT INDEXING TO LEAD THE INVESTMENT VEHICLE MARKET WITH SIGNIFICANT GROWTH PROJECTIONS
Direct Indexing is on the rise and expected to grow faster than other investment vehicles over the next two years. We break down the history, current trends in investor relations and institutional ownership, and ESG impact. 

2. INSTITUTIONAL PASS-THROUGH VOTING
As asset management institutions establish new programs to allow investors to express their proxy voting preferences, we examine the landscape and impact of this emerging trend.

3. E&S ACTIVISM IN M&A TRANSACTIONS – CANADA PERSPECTIVES
When Engine No. 1 defeated Exxon Mobile Corporation despite its very small equity ownership in the company, the world watched as E&S activism became a springboard to affect change at large, public companies. Here is what you need to know about E&S Activism within M&A transactions. 

4. MOBILIZING BONDHOLDERS IN TIMES OF CRISIS: MORROW SODALI’S ROLE IN UKRAINE’S DEBT-DEFERRAL CONSENT SOLICITATIONS
During a time of political and financial crisis, Morrow Sodali teamed up with other leading financial and legal advisors to approach Ukraine’s foreign creditors for restructuring of their debt.

5. MORROW SODALI’S ACTIVIST REPORT Q42022 
This excerpt of Morrow Sodali’s Activist Report analysis outlines the major trends identified globally among activist investors’ portfolios.

6. ADVANCING ESG – MORROW SODALI ACQUIRES FRAMEWORKESG  
Read about the evolution of FrameworkESG, Morrow Sodali’s newest acquisition, and reflections from founder Kate Rebernak on ESG today.

7. GET TO KNOW MORROW SODALI
Q&A with Geoffrey L. Weinberg, Managing Director, M&A and Activism Advisory Group.