Cowen Group, Inc. to Acquire Conifer Securities
Expanded Market Opportunity with Emerging and Established Hedge
definitive agreement under which Cowen will acquire
the prime services division of
transaction, the terms of which have not yet been disclosed, was
approved by the boards of directors of both companies.
expects the acquisition to be accretive to earnings in 2015.
services are well-respected among emerging hedge funds and established
family offices, segments historically underserved by the market.
Following our recent announcement of an agreement to acquire
execution and prime brokerage capabilities. Once the acquisitions are
complete, we will have established a solid footprint in the emerging
manager space with over 400 new client relationships. This announcement
validates our commitment to delivering products that help clients
outperform. We see a compelling opportunity to advance the prime
brokerage business, further grow our equities market share and gain
“For the past 26 years
delivering comprehensive broker-dealer services to investment managers.
Partnering with Cowen to provide clients with a broader range of
best-in-class products and services was a natural next step for our
excited to join
everything we do, we will ensure that the transaction benefits existing
client accounts and the manner in which clients are served.”
The transaction is expected to close in the third quarter of 2015 and is
subject to customary closing conditions and regulatory approval.
with its consolidated subsidiaries, provides alternative asset
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 segment, while
its affiliates make up the Company’s broker-dealer segment. Ramius
provides alternative asset management solutions to a global client base
and manages a significant portion of Cowen’s proprietary capital.
for growth-oriented companies, domain knowledge-driven research and a
sales and trading platform for institutional investors. Founded in 1918,
the firm is headquartered in
offering front-to-back capabilities across all asset classes to
pensions, endowments, family offices, hedge funds, private equity and
venture capital managers, RIAs, and traditional asset managers. Services
Services and Prime Brokerage.
clients worldwide representing more than
under administration (AUA). Securities and prime brokerage services
offered through Conifer Securities, LLC Member FINRA/
Cowen Group, Inc.