Governance & Restructuring

2023 Benchmarking of Joint Venture Governance

September 27, 2023

The governance of joint ventures matters. Today, many companies hold interests in numerous joint ventures – businesses or assets that offer great promise and introduce significant risks due to their shared ownership and decision-making structure. Governing a joint venture well requires companies to adopt practices not found in the governance of public companies or wholly-owned subsidiaries.

In this online briefing, James Bamford, David Ernst, and Andrew Venezia discuss the findings from our recent benchmarking of 80 large joint ventures around the world, including key correlations with governance and financial performance, and data on governance practices related to JV Board composition, time allocation, use of committees, delegations of authority, and how individual shareholders organize to manage their interests.

How We Help: Governance & Restructuring

We understand that succeeding in joint ventures and partnerships requires a blend of hard facts and analysis, with an ability to align partners around a common vision and practical solutions that reflect their different interests and constraints. Our team is composed of strategy consultants, transaction attorneys, and investment bankers with significant experience on joint ventures and partnerships – reflecting the unique skillset required to design and evolve these ventures. We also bring an unrivaled database of deal terms and governance practices in joint ventures and partnerships, as well as proprietary standards, which allow us to benchmark transaction structures and existing ventures, and thus better identify and build alignment around gaps and potential solutions. Contact us to learn more about how we can help you.

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About the Speakers

James Bamford

James Bamford is a Senior Advisor at Ankura based in Washington, DC. He joined Ankura with the firm’s 2020 acquisition of Water Street Partners, which he co-founded in 2008. Water Street Partners has been independently ranked as the number one global advisor on joint ventures since 2017. Prior to Water Street, he was global co-lead of the Joint Venture & Alliance Practice at McKinsey & Company.

David Ernst

David Ernst is a Senior Advisor at Ankura with more than 35 years of experience advising on strategy, transactions, restructuring, and governance matters. David is recognized as a global expert in the field of joint ventures. He has advised dealmakers and senior client executives across a range of industries, including oil and gas, chemicals, metals and mining, semiconductors, consumer goods, and health care. During his career, he has advised on more than 250 venture transactions in 33 countries, involving more than $300 billion in value, and has also served more than 100 existing joint ventures on governance and restructuring.

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