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The information on this website is provided for informational purposes only. Nothing on this site constitutes an offer to sell, or a solicitation of an offer to buy, any security or investment product, and nothing here constitutes investment, legal, tax, or accounting advice.
Research published by Vega North reflects the opinions of its authors at the time of publication and is subject to change without notice. It is not tailored to any reader's circumstances and should not be relied upon as the basis for an investment decision. Past performance is not a guarantee of future results.
Advisory services are provided only under written engagement terms. Descriptions of past work are illustrative and do not constitute a representation about the outcome of any future engagement.
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Vega North is an independent advisory and research firm in New York. We advise on mergers and acquisitions, private credit, and commercial real estate transactions, and we publish equity research built to institutional standards.
Vega North works with owners, investors, and lenders in the middle market on the parts of a transaction where the analysis decides the outcome: underwriting, structure, valuation, and the materials a counterparty or investment committee will actually read.
The firm began as a research imprint. That origin still sets the standard for advisory work: every recommendation is built from a model, tested against a bear case, and documented so that it holds up under scrutiny after we leave the room.
Learn more about how we work4
Practice areas across transactions and research
30+
Companies covered in published equity research
1,200+
Readers following Vega North research
Top Analyst
Seeking Alpha designation, awarded on measured pick performance
Four practice areas, one standard of analysis.
Buy-side and sell-side support for lower- and middle-market transactions: target screening, financial and commercial due diligence, quality-of-earnings review, valuation, and deal materials.
Typical work: diligence memos, normalized earnings, purchase-price analysis
Credit underwriting and transaction support for direct lenders and borrowers, including cash-flow modeling, covenant analysis, and structuring on financings in the tens of millions.
Typical work: credit memos, sources and uses, downside cases
Acquisition analysis for land, residential, and commercial assets: comparable sales, after-repair and residual land value, offer construction, and pipeline management.
Typical work: underwriting models, comp packages, offer calculators
Fundamental research on public companies, from single-name theses to sector decoders, along with independent valuation work for private transactions.
Typical work: DCF and multiples, investment committee papers, published notes
Published work. Each note follows the same discipline: one defining thesis, a driver-to-P&L bridge, a peer comparison, an honest risk section, and a valuation check.
A short document covering practice areas, representative work, research methodology, and engagement terms.
For advisory inquiries, deal materials, or research access.