Ramius and Ramius Alternative Solutions to Extend Partnership Long-Term

Ramius LLC, (“Ramius”) the global investment management business of
Cowen Group, Inc. (“Cowen”) (NASDAQ:COWN), today announced that it has
entered into an agreement for the long-term extension of its partnership
with Ramius Alternative Solutions, LLC (“RASL”) portfolio managers, Stuart Davies and Vikas Kapoor.

RASL offers a range of customized hedge fund investment and advisory
solutions with approximately $2.9 billion in assets under management as
of August 1, 2013. Under the agreement, a new operating committee has
been established to oversee the business consisting of Michael Singer,
Chief Executive Officer of Ramius; Thomas W. Strauss, Chairman of Ramius
and Vice Chairman of Cowen Group, Inc.; Stuart Davies, Co-CEO of RASL;
and Vikas Kapoor, Co-CEO of RASL.

Michael Singer said, “We are very pleased to continue our longstanding
relationship with Vikas and Stuart, as they are exceptionally talented
and proven investment professionals. Our partnership with them is
another example of the ongoing growth at Ramius and how we meet the
demands of sophisticated institutional investors. We will continue to
source and develop talented investment teams to expand our capabilities
and deliver alpha and solutions to our investors.”

Stuart Davies, with Vikas Kapoor, said, “We are delighted to extend our
partnership with Ramius and continue to develop the capabilities of RASL
with the ongoing benefit of the firm’s infrastructure, operations and
marketing capabilities. RASL is uniquely positioned to help institutions
meet their demands for creating efficient alternative portfolios,
capturing hedge fund alpha, measuring and managing traditional and
alternative betas, and managing portfolio volatility. We look forward to
a long and productive partnership with our friends and colleagues at

Thomas W. Strauss said, “We are thrilled to announce the extension of
this partnership. Since Vikas and Stuart joined Ramius in 2008 and 2009,
respectively, they have implemented a wholesale change to Ramius’
traditional fund of hedge funds business and successfully created and
scaled a differentiated alternatives business focused on creating
customized investment solutions for sophisticated global institutions.
They have developed proprietary algorithms and tools that enable access
to hedge fund exposures for clients who have investment mandates or
regulatory constraints that require greater liquidity, transparency, fee
sensitivity, or risk management flexibility than a traditional portfolio
of hedge funds would allow. We are proud of what they have accomplished
for clients, and for Ramius, and we look forward to our ongoing

About Stuart Davies

Stuart Davies was most recently a Managing Director and Co-Head of
Ramius Alternative Solutions LLC. Mr. Davies joined Ramius in January

Prior to joining Ramius, Mr. Davies was a Managing Director and Global
Head of Investments at Ivy Asset Management in New York and was a member
of Ivy’s Executive Committee and Investment Committee. Earlier in Mr.
Davies’ career, he was a member of the International Investment
Committee of Coronation Fund Manager
and also spent three years at
Nedcor Investment Bank International, a subsidiary of Old Mutual Plc, as
Head of the Investment Team. Mr. Davies started his career in 1992 with
Deloitte and Touche in both their audit and corporate finance divisions.

Mr. Davies graduated from the University of Cape Town with a Bachelor of
Commerce and Post Graduate Diploma in Accounting. He is also a Chartered
Accountant and a CFA charterholder.

About Vikas Kapoor

Vikas Kapoor was most recently a Managing Director and Co-Head of Ramius
Alternative Solutions LLC
. Mr. Kapoor joined Ramius in June 2008.

Prior to joining Ramius, Mr. Kapoor was a Managing Director at Arden
Asset Management focusing on Portfolio Construction and Risk Management
and was a member of Arden’s Investment Committee and Management
Committee. Earlier in Mr. Kapoor’s career, he was Managing Director of
Deutsche Bank’s Absolute Return Strategies Group where he headed the
Quantitative Analysis and Applications Group.

Mr. Kapoor received an M.S. in Computational Finance from Carnegie
Mellon University
in 2003, an M.B.A. in Finance with Honors from the
Tulane University in New Orleans in 1996 and a B.Tech. in Mechanical
Engineering from Regional Engineering College, Kurukshetra, India in

About Ramius LLC

Ramius, a global contemporary investment management firm with $9.2
in assets under management (as of August 1, 2013), offers a
broad suite of investment products and solutions to institutional and
private clients worldwide. Founded in 1994, the firm’s capabilities
include hedge fund solutions, value equity activism, event driven,
healthcare royalties, real estate direct lending, credit, and managed
futures. A significant portion of Cowen’s proprietary capital is managed
by Ramius in strategies alongside our clients.

About Cowen Group, Inc.

Cowen Group, Inc. is a diversified financial services firm and, together
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 Cowen and Company and
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. Cowen
and Company and its affiliates offer industry focused investment banking
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 New York and has offices located in major
financial centers around the world.

Source: Cowen Group, Inc.

Sard Verbinnen & Co
Dan Gagnier/Carissa
Ramirez, 212-687-8080

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