When did firms start offering transaction services? Were people doing this type of work in 80s and 90s? Just curious if anyone knows. Oldest report I've ever seen is from around 2004.

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Definitely in the 90s and my guess is that we were doing it in the 80s as well. Back in the day we were highly focused on PE. The groups were obviously much smaller then with managers, SM and PPMDs. Staff and managers were borrowed from audit and tax to assist. I worked on deals with our M&A team while I was a manager in audit in the early 90s.

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90s yes, Andersen had a transaction services practice

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As others said, late 90s with some early 2000s. In the 80s FDD was mostly handled by audit teams ("special projects") or consulting firms not specialized in FDD. There was then massive growth in the 2010s due to the growth in PE and increasing sell side prevalence. It's why average age of TAS partners tends to skew lower than audit.

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F

I’d imagine in the 80s with the PE boom

Yeah man, back when vdr was just DR literally.

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