PlacementTracker Publishes PIPE Market League Tables


SAN DIEGO, Oct. 5, 2011 (GLOBE NEWSWIRE) -- Sagient Research Systems, a leading publisher of independent research for the financial services and institutional investment communities, today announced that Rodman & Renshaw, LLC ranked as the number one most active investment bank and Iroquois Capital L.P., ranked as the number one most active institutional investor in the U.S. PIPE market during the first three quarters of 2011.

Sagient Research also announced that Sichenzia Ross Friedman Ference, LLP ranked as the number one most active issuer counsel, Schulte Roth & Zabel, LLP ranked as the number one most active investor counsel, and Weinstein Smith LLP (now part of Ellenoff Grossman & Schole LLP) ranked as the number one most active placement agent counsel in the U.S. PIPE market through the first three quarters of 2011.

PlacementTracker, a flagship product of Sagient Research Systems, is well recognized as the leading provider of research, data, and analytics covering the PIPE market.

Commenting on the activity in the PIPE market, Robert Kyle, Sagient Research's Chief Executive Officer said, "During the first three quarters of 2011, a total of over $24 billion was raised in 772 transactions (of this amount, 26 transactions totaling $167 million have been announced but not yet closed as of 10/04/11). This compares to $30.7 billion raised in 854 transactions in the first three quarters of 2010. The highly volatile equity market over the summer months caused activity in the PIPE market to decelerate. However, with pent-up demand and issuers' desire to build up balance sheets before year-end, all signs point to a robust fourth quarter ahead, especially if equity markets improve.  We congratulate all of the active members of the PIPE community for continued success in 2011.  Most of these firms are long-time clients of PlacementTracker, and we are dedicated to providing them with access to data on our ever-changing industry."

PlacementTracker's dynamically updating League Tables are available online at: http://www.placementtracker.com/pt/leaguetables.cfm.

The 2011 U.S. PIPE Market Investment Banking League Table

By Number of Transactions (through 10/04/11):

Placement Agent Name Transaction Count Total Amount Placed
Rodman & Renshaw, LLC 59*  $ 918,629,841
Roth Capital Partners, LLC 41  $ 679,251,029
Lazard 18  $ 386,691,203
Ladenburg Thalmann & Co., Inc. 15  $ 346,119,500
Jefferies & Company, Inc. 14  $ 917,297,925
JMP Securities LLC 13  $ 439,251,873
Canaccord Genuity Inc. 12  $ 534,767,061
Maxim Group LLC 12  $ 231,142,477
Piper Jaffray & Co. 11  $ 543,715,342
Chardan Capital Markets 10  $ 70,730,607
Oppenheimer & Co. Inc. 9  $ 353,171,837
Stifel Nicolaus Weisel 9  $ 325,188,565
William Blair & Company, LLC 9  $ 206,533,942
Leerink Swann, LLC 8  $ 325,206,434
Sandler O'Neill & Partners, L.P. 7  $  1,249,999,999
J.P. Morgan Chase & Co. 7  $ 792,702,782
Northland Securities, Inc. 7  $ 98,272,747
Keefe, Bruyette & Woods, Inc. 6  $ 318,484,941
Cowen and Company, LLC 6  $ 176,441,469
Needham & Company, LLC 6  $ 154,009,000
Merriman Capital, Inc 6  $ 99,636,128
Janney Montgomery Scott, Inc. 5  $ 223,241,250
Wedbush PacGrow Life Sciences 5  $ 199,435,000
National Securities Corporation 5  $ 179,242,500
Craig-Hallum Capital Group LLC 5  $ 87,695,002
     

Investment Banking rankings exclude all 144-A Offerings, Equity Lines of Credit, At the Market Transactions, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the Pink Sheets. On transactions where an investment banking firm has acted solely as Financial Advisor, that transaction has been excluded from that firm's ranking. Co-agented transactions award full transaction credit to all agents participating (regardless of status of lead agent or co-agent). Data is for closed and definitive agreement transactions reported as of 10/04/11.

The 2011 U.S. PIPE Market Investment Banking League Table

By Total Amount Placed (through 10/04/11):

Placement Agent Name Transaction Count Total Amount Placed
Sandler O'Neill & Partners, L.P. 7  $  1,249,999,999
Jefferies & Company, Inc. 15  $  1,019,633,958
Rodman & Renshaw, LLC 56  $ 912,769,036
J.P. Morgan Chase & Co. 7  $ 792,702,782
Roth Capital Partners, LLC 43  $ 688,069,029
Piper Jaffray & Co. 11  $ 543,715,342
Canaccord Genuity Inc. 12  $ 534,767,061
JMP Securities LLC 14  $ 503,074,957
Barclays Capital, Inc.  2  $ 450,001,390
Stifel Nicolaus Weisel 11  $ 434,524,598
Lazard 18  $ 386,691,203
Raymond James & Associates Inc. 4  $ 383,456,767
Oppenheimer & Co. Inc. 9  $ 353,171,837
Ladenburg Thalmann & Co., Inc. 15  $ 346,119,500
Leerink Swann, LLC 8  $ 325,206,434
Keefe, Bruyette & Woods, Inc. 6  $ 318,484,941
Howe Barnes Hoefer & Arnett, Inc. 1  $ 310,000,000
William Blair & Company, LLC 10  $ 308,869,975
Global Hunter Securities, LLC 4  $ 237,500,000
Maxim Group LLC 13  $ 233,126,477
Goldman, Sachs & Co. 1  $ 231,599,431
Burke Capital Group, LLC 1  $ 231,599,431
Morgan Keegan & Company, Inc. 3  $ 228,151,250
Macquarie Capital (USA) Inc. 2  $ 226,460,216
Janney Montgomery Scott, Inc. 5  $ 223,241,250

Investment Banking rankings exclude all 144-A Offerings, Equity Lines of Credit, At the Market Transactions, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the Pink Sheets. On transactions where an investment banking firm has acted solely as Financial Advisor, that transaction has been excluded from that firm's ranking. Co-agented transactions award full transaction credit to all agents participating (regardless of status of lead agent or co-agent). Data is for closed and definitive agreement transactions reported as of 10/04/11.

The 2011 U.S. PIPE Market Institutional Investor League Table

By Number of Transactions (through 10/04/11):

Investor Name Transaction Count Total Amount Invested
Iroquois Capital L.P. 41  $  21,028,401
AQR Capital Management, LLC 40  $  13,325,005
Downsview Capital, Inc. 36  $  15,600,540
Hudson Bay Capital Management L.P. 32  $  27,839,158
Heights Capital Management, Inc. 28  $  32,662,050
DAFNA Capital Management, LLC 27  $ 6,716,538
Deerfield Management 26  $  146,374,272
Fidelity Management & Research Corporation 25  $  174,054,750
Kingsbrook Partners, LP 23  $  15,425,824
LH Financial Services Corporation 22  $   25,611,875
Citadel Advisors, LLC 22  $ Not Disclosed 
Columbia Management Investment Advisers, LLC 21  $ 7,265,700
UBS O'Connor LLC 20  $ 3,497,498
D.E. Shaw & Co., L.P. 18  $ Not Disclosed 
Teachers Insurance and Annuity Association 17  $ Not Disclosed 
Perceptive Advisors, LLC 15  $  17,749,984
Empery Asset Management LP 15  $  11,917,045
Artorius Capital Management 14  $ Not Disclosed 
AWM Investment Management (MGP Advisors, LLC) 13  $   29,249,999
Highbridge International, LLC 13  $ 8,224,026
RA Capital Management, LLC 13  $ 6,181,890
S.A.C. Capital Advisors, LLC 13  $ 4,000,000
Millennium Management, LLC 13  $ Not Disclosed 
Wellington Management Company LLP 12  $  42,856,390
Great Point Partners, LLC 12  $  32,202,104

Investor rankings exclude all 144-A Offerings, Equity Lines of Credit, At the Market Transactions, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the Pink Sheets. Investors classified as Corporate Investors and Insurance Companies have been excluded from this ranking. Data is for closed and definitive agreement transactions reported as of 10/04/11.

The 2011 PIPE Market Issuer Counsel League Table

By Number of Transactions (through 10/04/11):

Legal Counsel Transaction Count  Total Amount Advised
Sichenzia Ross Friedman Ference, LLP 22  $ 108,067,599
Cooley LLP 17  $ 410,261,244
Greenberg Traurig, LLP 10  $ 108,618,657
O'Melveny & Myers, LLP 9  $ 147,147,983
K&L Gates LLP 8  $ 647,699,961
Morrison & Foerster, LLP 8  $ 406,984,187
Skadden, Arps, Slate, Meagher & Flom, LLP 7  $ 789,542,992
Latham & Watkins, LLP 7  $ 517,689,996
Wilson Sonsini Goodrich & Rosati 7  $ 287,444,389
Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC 7  $ 160,692,763
Anslow & Jaclin, LLP 7  $ 44,963,837
DLA Piper 6  $ 38,102,233
Morgan, Lewis & Bockius, LLP 6  $ 32,413,673
Vinson & Elkins, LLP 5  $  1,102,141,390
Akerman Senterfitt 5  $ 355,730,001
Paul, Hastings, Janofsky & Walker, LLP 5  $ 173,470,127
Katten Muchin Rosenman, LLP 5  $ 123,340,147
Ropes & Gray 5  $ 65,100,000
Dorsey & Whitney, LLP 5  $ 28,887,490
Jones Day 4  $ 291,825,064
Wilmer Cutler Pickering Hale & Dorr, LLP 4  $ 182,620,279
Loeb & Loeb, LLP 4  $ 78,500,000
Seyfarth Shaw, LLP 4  $ 58,603,476
Lowenstein Sandler, PC 4  $ 51,193,000
TroyGould PC 4  $ 48,174,644

Legal counsel rankings exclude all 144-A Offerings, Equity Lines of Credit, At the Market Transactions, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the Pink Sheets. Data is for closed and definitive agreement transactions reported as of 10/04/11.

The 2011 PIPE Market Investor Counsel League Table

By Number of Transactions (through 10/04/11):

Legal Counsel Transaction Count Total Amount Advised
Schulte Roth & Zabel, LLP 53  $  1,838,642,977
Greenberg Traurig, LLP 26  $ 767,080,060
Lowenstein Sandler, PC 10  $ 116,391,201
Baker Botts, LLP 6  $  1,587,447,234
Grushko & Mittman, PC 6  $ 24,778,405
Skadden, Arps, Slate, Meagher & Flom, LLP 5  $  1,203,160,216
Ropes & Gray 5  $ 334,733,333
Wachtell, Lipton, Rosen & Katz 4  $ 767,578,563
Kirkland & Ellis 4  $ 665,840,001
Davis Polk & Wardwell LLP 4  $ 399,294,589
Seward & Kissel LLP 4  $ 79,166,261
Katten Muchin Rosenman, LLP 4  $ 55,533,000
Weinstein Smith LLP 4  $ 30,107,529
Davis Polk & Wardwell 3  $ 625,000,000
Simpson Thacher Bartlett, LLP 3  $ 431,165,000
Kramer Levin Naftalis & Frankel, LLP 3  $ 31,942,000
Peter J. Weisman, PC 3  $ 11,750,000
Ellenoff Grossman & Schole LLP 3  $ 3,800,000
Munger, Tolles & Olson, LLP 2  $  5,465,000,031
DLA Piper 2  $ 475,000,031
Paul, Weiss, Rifkind, Wharton & Garrison 2  $ 295,612,999
Wilson Sonsini Goodrich & Rosati 2  $ 149,425,190
Latham & Watkins, LLP 2  $ 95,000,000
Davies Ward Phillips & Vineberg, LLP 2  $ 79,218,201
Cooley LLP 2  $ 61,645,928

Legal counsel rankings exclude all 144-A Offerings, Equity Lines of Credit, At the Market Transactions, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the Pink Sheets. Data is for closed and definitive agreement transactions reported as of 10/04/11.

The 2011 PIPE Market Placement Agent Counsel League Table

By Number of Transactions (through 10/04/11):

Legal Counsel Transaction Count  Total Amount Advised
Weinstein Smith LLP 33  $ 255,263,291
Goodwin Procter, LLP 29  $ 692,988,209
Ellenoff Grossman & Schole LLP 28  $ 233,125,342
Proskauer Rose, LLP 18  $ 458,498,710
Lowenstein Sandler, PC 18  $ 199,051,325
Latham & Watkins, LLP 6  $ 231,062,504
Cooley LLP 3  $ 186,990,000
Graubard Miller 3  $ 121,145,000
Pillsbury, Winthrop, Shaw & Pittman, LLP 3  $ 45,356,000
K&L Gates LLP 2  $ 97,860,000
Dewey & LeBoeuf LLP 2  $ 79,500,000
Simpson Thacher Bartlett, LLP 2  $ 78,943,144
Davis Polk & Wardwell 2  $ 64,068,967
Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC 2  $ 47,612,501
Pillsbury Winthrop, LLP 2  $ 44,476,000
DLA Piper 2  $ 41,746,777
Sichenzia Ross Friedman Ference, LLP 2  $ 23,000,000
Cravath, Swaine & Moore 1  $ 155,250,000
Wilson Sonsini Goodrich & Rosati 1  $ 130,400,000
Ropes & Gray 1  $ 111,162,083
Hogan Lovells US LLP 1  $ 100,000,000
Sidley Austin LLP 1  $ 96,542,500
White & Case, LLP 1  $ 64,759,375
Edwards Angell Palmer & Dodge, LLP 1  $ 49,507,500
Weil, Gotshal & Manges, LLP 1  $ 48,300,000

Legal counsel rankings exclude all 144-A Offerings, Equity Lines of Credit, At the Market Transactions, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the Pink Sheets. Data is for closed and definitive agreement transactions reported as of 10/04/11.

*Includes transactions completed by Rodman & Renshaw, LLC and entities it acquired during 2011.

About Sagient Research Systems

Sagient Research Systems is a publisher of specialized research and data. We develop, produce, and sell proprietary research products to global enterprises, including investment banks, mutual and hedge funds, pharmaceutical companies, academic institutions, and government agencies. Our business strategy is to continue to leverage our development, technology, and marketing expertise to solidify our position as a leading provider of independent research.  In each of 2007, 2008, 2009, and 2010, Sagient Research was named to the Inc. 5000 list of fastest growing companies.  For more information, please visit the Sagient Research Systems website at www.sagientresearch.com.

The Sagient Research Systems logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7294


            

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