Cowen Group, Inc. Agrees to Acquire KDC Securities
announced its entry into a definitive agreement to acquire
Securities
broker-dealer subsidiary of
investment manager.
Following the closing of the transaction, KDC will operate as the “Cowen
Equity Finance Group” and will be based in
current head of KDC’s securities lending business, will serve as
Managing Director and Head of the
to Cowen’s Co-Heads of Equities, Tom O’Mara and
“Kellner and its securities lending team have built an impressive equity
finance platform since the business was launched seven years ago,” said
broker-dealer business. “We believe the business is well positioned for
future growth and is a strong complement to our existing sales and
trading footprint.”
The transaction, which is subject to certain regulatory approvals and
customary closing conditions, is expected to close in the fourth quarter
of 2012. Financial terms of the transaction were not disclosed.
About
with its consolidated subsidiaries, provides alternative investment
management, investment banking, research, and sales and trading services
through its two business segments: Ramius and its affiliates make up the
Company’s alternative investment management segment, while
Company
management products, solutions and services include hedge funds,
replication products, managed futures funds, fund of funds, real estate,
health care royalty funds and cash management services.
Company
companies, domain knowledge-driven research and a sales and trading
platform for institutional investors. Founded in 1918, the firm is
headquartered in
centers around the world.
Source:
Sard Verbinnen & Co
Dan Gagnier/Carissa Ramirez
212-687-8080