Strategy Focused on Investing in Mid-to-Late Stage Private Healthcare Companies
Newly Established Investment Platform Expands Cowen’s Leading Position in Healthcare
NEW YORK, NY — November 1, 2017 — Cowen Inc. (NASDAQ:COWN) (“Cowen” or the “Company”) today announced Kevin Raidy, who has served as Cowen’s Head of Investment Banking, has been named Managing Partner of Cowen Healthcare Investments. Cowen Healthcare Investments makes mid-to-late stage investments into innovative private biopharmaceutical and healthcare companies. The private healthcare investment strategy is the latest capability to be launched by the firm’s investment management division, Cowen Investment Management.
Jeffrey M. Solomon, President of Cowen, said, “Kevin is an invaluable partner to all of us at Cowen and he will continue to be one in this new role. He has always had a keen ability to see the white space and create new business opportunities that leverage the collective strengths of the organization. In addition to leading the transformation of our investment banking platform, Kevin identified an opportunity to invest in private healthcare companies and led the creation of a new investment capability that has already become an important contributor to our franchise. We are excited for Kevin to take on this new role even as he continues to be an important partner and contributor to the overall success of the Company.”
Fred S. Fraenkel, Head of Cowen Investment Management and Vice Chairman of Cowen, added, “Our newest investment capability, private healthcare investing, is a natural outgrowth of Cowen’s industry leading healthcare franchise in research and investment banking. We are thrilled to be in a position to institutionalize this strategy. Kevin possesses unique industry knowledge that we believe will drive investment performance for our clients.”
Thomas W. Strauss, Chairman of Cowen Investment Management, said, “Cowen’s healthcare platform sits at the nexus of one of the most complex and dynamic sectors, providing Cowen Healthcare Investments with a robust ecosystem for sourcing investment opportunities. Combined with Kevin’s extensive experience with many private and public healthcare companies, we believe this proprietary Cowen strategy offers investors a differentiated approach to healthcare investing.”
Mr. Raidy is Managing Partner of Cowen Healthcare Investments. Previously, Mr. Raidy served as Cowen’s Head of Investment Banking and as Co-Head of the equity capital markets group, which is responsible for the origination and execution of all equity capital-raising transactions. Before that, he was a Managing Director at Ramius LLC, where he was portfolio manager for direct investments and convertible bonds, managing a portfolio in excess of $1 billion. Mr. Raidy also was the founder of H4 Capital Management LLC. His sell-side experience includes ten years at Shipley Raidy Capital Partners LP, a boutique investment banking firm that he co-founded, where he was responsible for sourcing, evaluating, and structuring numerous debt and equity financings and also performed M&A advisory services. Prior to founding Shipley Raidy, Mr. Raidy was an Associate at Philadelphia First Group. He started his career at Cantor Fitzgerald before moving to Merrill Lynch as an Analyst in the municipal finance group. Mr. Raidy holds a BS in Economics with a concentration in Finance from the Wharton School of the University of Pennsylvania.
About Cowen Inc.
Cowen Inc. is a diversified financial services firm and, together with its consolidated subsidiaries, provides alternative asset management, investment banking, research, sales and trading, prime brokerage, global clearing and commission management through its two business segments: Cowen Investment Management and its affiliates make up the Company’s alternative investment segment, while Cowen and Company, a member of FINRA and SIPC, and its affiliates make up the Company’s broker-dealer segment. Cowen Investment Management provides alternative asset management solutions to a global client base and manages a significant portion of Cowen’s proprietary capital. Cowen and Company and its affiliates offer industry focused investment banking for growth-oriented companies, domain knowledge-driven research, a sales and trading platform for institutional investors and a comprehensive suite of prime brokerage services. Founded in 1918, the firm is headquartered in New York and has offices worldwide. For additional information, visit www.cowen.com.