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Kevin Raidy Named Managing Partner of Cowen Healthcare Investments

Strategy Focused on Investing in Mid-to-Late Stage Private Healthcare

Newly Established Investment Platform Expands Cowen’s Leading
Position in Healthcare

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

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.”


Kevin Raidy

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
and has offices worldwide. For additional information, visit

Source: Cowen Inc.

Lynda Caravello, 646-562-1676
Dan Gagnier, 646-569-5897