PlacementTracker Publishes 2012 PIPE Market League Tables

Print
| Source: Sagient Research Systems

San Diego, Jan. 9, 2013 (GLOBE NEWSWIRE) -- Sagient Research Systems, a leading publisher of independent research for the financial services and institutional investment communities, today announced that Roth Capital Partners, LLC ranked as the number one most active investment bank and Fidelity Management & Research Corporation ranked as the number one most active institutional investor in the U.S. PIPE market during 2012. We are also pleased to announce that Cowen and Company, LLC ranked as the most active investment bank in the busiest segment of the market, the healthcare sector.

Sagient Research also announced that Cooley LLP ranked as the number one most active issuer counsel, Schulte Roth & Zabel, LLP ranked as the number one most active investor counsel, and Ellenoff Grossman & Schole LLP ranked as the number one most active placement agent counsel in the U.S. PIPE market during 2012.

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, "A total of $33 billion was raised in 834 transactions in the U.S. PIPE market in 2012 (of this amount, 10 transactions totaling $261 million have been announced but not yet closed as of 1/07/13).  This compares to just $26.6 billion raised through 924 transactions during all of 2011. The trend towards a larger average deal size continued, helped in part by hybrid structures that have enticed increasingly larger companies to access this market. 2012 was also a year of change for the PIPE market, with long time market leaders shutting their doors, and others forming new groups to pick up where they left off. We congratulate all of the active members of the PIPE community, and wish them continued success in 2013. Most of these firms are long-time clients of PlacementTracker, and we are dedicated to providing them with the resources to stay on top of our ever-changing industry."

PlacementTracker's dynamically updating League Tables are available online at: http://www.placementtracker.com/leaguetables.cfm. To better understand how BioMedTracker can complement your PlacementTracker subscription to fully understand the competitive landscape for issuers you invest in or advise, please click here

   

The 2012 U.S. PIPE Market Investment Banking League Table

By Number of Transactions:

Placement Agent Name                                              Transaction Count Total Amount Placed
Roth Capital Partners, LLC 38       $            783,337,133
Rodman & Renshaw, LLC 30       $            421,219,432
Jefferies & Company, Inc. 29       $         1,789,475,341
Cowen and Company, LLC 29       $         1,537,204,020
JMP Securities LLC 27       $         1,196,287,211
Piper Jaffray & Co. 21       $         1,064,661,765
Lazard 20       $            842,213,006
Aegis Capital Corporation 19       $            207,045,673
Leerink Swann, LLC 18       $         1,076,642,527
Stifel Nicolaus Weisel 18       $            828,521,126
Oppenheimer & Co. Inc. 17       $            796,426,814
Ladenburg Thalmann & Co., Inc. 17       $            321,336,430
Canaccord Genuity Inc. (US) 16       $            661,073,123
Maxim Group LLC 15       $            238,834,601
Craig-Hallum Capital Group LLC 13       $            186,600,241
Chardan Capital Markets 12       $              43,910,030
William Blair & Company, LLC 11       $            494,359,848
Wedbush PacGrow Life Sciences                            10       $            591,697,531
J.P. Morgan Chase & Co. 9       $            657,091,003
Barclays Capital, Inc. 8       $         2,036,621,624
Summer Street Research Partners 8       $            248,576,500
Needham & Company, LLC 8       $            235,503,818
National Securities Corporation 7       $              79,269,619
Dawson James Securities, Inc. 7       $              27,505,435
Palladium Capital Advisors, LLC 7       $              22,954,751
     

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 1/07/13.

   

The 2012 U.S. Healthcare PIPE Market Investment Banking League Table

By Number of Transactions:

Placement Agent Name                                              Transaction Count Total Amount Placed
Cowen and Company, LLC 28       $         1,502,204,020
JMP Securities LLC 27       $         1,196,287,211
Jefferies & Company, Inc. 25       $         1,490,472,720
Roth Capital Partners, LLC 25       $            574,010,663
Rodman & Renshaw, LLC 21       $            258,529,148
Piper Jaffray & Co. 19       $            957,818,015
Leerink Swann, LLC 18       $         1,076,642,527
Oppenheimer & Co. Inc. 15       $            746,119,564
Stifel Nicolaus Weisel 15       $            713,714,876
Canaccord Genuity Inc. (US) 14       $            618,739,123
William Blair & Company, LLC 11       $            494,359,848
Ladenburg Thalmann & Co., Inc. 11       $            203,472,890
Aegis Capital Corporation 11       $            120,980,015
Lazard 10       $            555,128,887
Wedbush PacGrow Life Sciences 9       $            531,897,531
Maxim Group LLC 9       $            148,890,465
J.P. Morgan Chase & Co. 8       $            612,091,003
Summer Street Research Partners                         8       $            248,576,500
Needham & Company, LLC 6       $            210,023,818
Wells Fargo Securities, LLC 4       $            446,799,100
RBC Capital Markets, Inc. 4       $            213,225,106
Credit Suisse Securities (USA) LLC 4       $            190,500,001
Griffin Securities, Inc. 4       $            156,394,885
Craig-Hallum Capital Group LLC 4       $              44,395,000
Morgan Stanley 3       $            290,033,618
     

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 1/07/13.

   

The 2012 U.S. PIPE Market Investment Banking League Table

By Total Amount Placed:

Placement Agent Name                                              Transaction Count Total Amount Placed
Credit Suisse Securities (USA) LLC 5       $        2,200,707,246
Barclays Capital, Inc. 8       $        2,036,621,624
Jefferies & Company, Inc. 29       $        1,789,475,341
Cowen and Company, LLC 29       $        1,537,204,020
Citigroup Global Markets, Inc. 5       $        1,389,145,964
JMP Securities LLC 27       $        1,196,287,211
Bank of America Merrill Lynch 4       $        1,180,628,492
Deutsche Bank Securities, Inc. 4       $        1,127,821,004
Leerink Swann, LLC 18       $        1,076,642,527
Piper Jaffray & Co. 21       $        1,064,661,765
Lazard 20       $           842,213,006
Stifel Nicolaus Weisel 18       $           828,521,126
Oppenheimer & Co. Inc. 17       $           796,426,814
Roth Capital Partners, LLC 38       $           783,337,133
Wells Fargo Securities, LLC 6       $           728,409,772
Canaccord Genuity Inc. (US) 16       $           661,073,123
J.P. Morgan Chase & Co. 9       $           657,091,003
Wedbush PacGrow Life Sciences 10       $           591,697,531
DnB NOR Markets 2       $           550,000,000
Nordea Bank Denmark A/S 2       $           550,000,000
Arctic Securities 2       $           550,000,000
William Blair & Company, LLC                                11       $           494,359,848
Goldman, Sachs & Co. 2       $           469,575,599
RS Platou Markets AS 3       $           459,002,621
Rodman & Renshaw, LLC 30       $           421,219,432

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 1/07/13.

   

The 2012 U.S. PIPE Market Institutional Investor League Table

By Number of Transactions:

Investor Name Transaction Count Total Amount Invested
Fidelity Management & Research Corporation 45         $            190,685,292
Heights Capital Management, Inc. 33         $            140,566,841
Millennium Management, LLC 33                         Not Disclosed
Hudson Bay Capital Management L.P. 29         $            115,356,242
UBS O'Connor LLC 26         $              14,318,746
Teachers Insurance and Annuity Association 26                         Not Disclosed
D.E. Shaw & Co., L.P. 25                         Not Disclosed
Baker Brothers Advisors, LLC 24         $            139,095,699
Deerfield Management 24         $              49,786,201
Iroquois Capital L.P. 23         $              12,144,508
Columbia Management Investment Advisers, LLC 22         $                4,144,560
Downsview Capital, Inc. 21         $              13,307,618
Wellington Management Company LLP 18         $              31,712,805
Kingsbrook Partners, LP 18         $              13,661,506
T. Rowe Price Associates, Inc. 17         $              79,893,668
RA Capital Management, LLC 17         $              20,486,235
Perceptive Advisors, LLC 17         $                7,925,000
AQR Capital Management, LLC 17                         Not Disclosed
AWM Investment Management (MGP Advisors, LLC) 15         $              10,933,998
DAFNA Capital Management, LLC 15         $                5,066,452
Brio Capital Management LLC 14         $                3,600,001
Citadel Advisors, LLC 13         $              25,990,901
Sabby Management, LLC 13         $              23,912,154
Ayer Capital Management, LP 13         $              14,050,000
Orbimed Advisors, LLC 13             $              13,979,956
     

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 1/07/13.

   

The 2012 PIPE Market Issuer Counsel League Table

By Number of Transactions:

Legal Counsel                                                             Transaction Count     Total Amount Advised
Cooley LLP 30       $         1,452,948,711
Sichenzia Ross Friedman Ference, LLP 20       $            104,712,634
Latham & Watkins, LLP 13       $            446,098,214
Ropes & Gray 11       $            345,454,622
Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC 11       $            266,076,867
Greenberg Traurig, LLP 11       $            186,413,545
Morgan, Lewis & Bockius, LLP 10       $            144,507,369
DLA Piper 9       $            146,238,495
Morrison & Foerster, LLP 9       $              84,413,024
Skadden, Arps, Slate, Meagher & Flom, LLP 8       $         4,192,635,806
Wilson Sonsini Goodrich & Rosati 8       $            197,446,460
Dorsey & Whitney, LLP 7       $            155,610,881
Ellenoff Grossman & Schole LLP 7       $              58,499,997
Vinson & Elkins, LLP 6       $         1,159,062,451
Goodwin Procter, LLP 6       $            171,463,541
Wilmer Cutler Pickering Hale & Dorr, LLP 6       $            153,336,788
Loeb & Loeb, LLP 6       $            145,806,194
Thompson & Hine, LLP 6       $            106,741,258
K&L Gates LLP 6       $              81,633,751
Pillsbury, Winthrop, Shaw & Pittman, LLP               6       $              77,005,002
TroyGould PC 6       $              75,157,255
Anslow & Jaclin, LLP 6       $              11,008,947
Jones Day 5       $            618,530,005
Fenwick & West, LLP 5       $            381,308,640
Baker Botts, LLP 5       $            100,000,008

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 1/07/13.

   

The 2012 PIPE Market Investor Counsel League Table

By Number of Transactions:

Legal Counsel                                                             Transaction Count Total Amount Advised
Schulte Roth & Zabel, LLP 80  $         2,861,255,894
Greenberg Traurig, LLP 24  $            379,808,105
Latham & Watkins, LLP 10  $         2,855,057,590
Ellenoff Grossman & Schole LLP 10  $              52,073,000
Ropes & Gray 7  $            210,931,522
Sichenzia Ross Friedman Ference, LLP                 5  $              21,692,419
Baker Botts, LLP 4  $            722,387,374
Simpson Thacher Bartlett, LLP 4  $            549,919,000
Vinson & Elkins, LLP 4  $            535,001,007
Grushko & Mittman, PC 4  $                7,360,000
DLA Piper 3  $            490,000,031
Wilson Sonsini Goodrich & Rosati 3  $            233,463,240
Sullivan & Cromwell 3  $              97,299,988
Katten Muchin Rosenman, LLP 3  $              46,998,402
Lowenstein Sandler, PC 3  $              20,251,497
Peter J. Weisman, PC 3  $                5,145,000
Munger, Tolles & Olson, LLP 2  $            805,000,055
Thompson & Knight, LLP 2  $            280,000,325
Sidley Austin LLP 2  $            275,000,000
Proskauer Rose, LLP 2  $              80,000,000
Skadden, Arps, Slate, Meagher & Flom, LLP 2  $              79,848,903
Jones Day 2  $              62,000,012
O'Melveny & Myers, LLP 2  $              41,000,000
Seward & Kissel LLP 2  $                5,331,182
Dow, Lohnes & Albertson, PLLC 1      $         3,100,000,000

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 1/07/13.

   

The 2012 PIPE Market Placement Agent Counsel League Table

By Number of Transactions:

Legal Counsel                                                             Transaction Count       Total Amount Advised
Ellenoff Grossman & Schole LLP 37          $            177,516,095
Goodwin Procter, LLP 36          $         1,046,261,442
Latham & Watkins, LLP 20          $         1,260,307,029
Proskauer Rose, LLP 16          $            502,334,416
Lowenstein Sandler, PC 12          $            105,177,147
Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC 6          $            124,335,560
Sullivan & Cromwell 5          $            257,423,709
Reed Smith, LLP 5          $              86,739,630
Covington & Burling 4          $            178,158,219
Ropes & Gray 4          $            155,375,150
Cooley LLP 4          $            147,724,992
Zysman, Aharoni, Gayer & Company Law Offices 4          $              17,627,883
Davis Polk & Wardwell LLP 3          $            188,022,620
K&L Gates LLP 3          $              71,735,500
Littman Krooks, LLP 3          $              22,284,808
Sichenzia Ross Friedman Ference, LLP 3          $              21,027,260
Blank Rome LLP 3          $              19,665,000
Morrison & Foerster, LLP 2          $            234,061,824
Willkie, Farr & Gallagher 2          $            190,033,618
Davis Polk & Wardwell 2          $            101,375,000
Dewey & LeBoeuf LLP 2          $              81,908,750
Dechert, LLP 2          $              51,999,993
Goodmans, LLP 2          $              39,760,376
LeClairRyan, PC 2          $              34,500,006
Jones Day 2              $              32,355,001

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 1/07/13.

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, 2010, and 2012 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.

Mike Kotecki
858-200-2370