SAN DIEGO, July 7, 2009 (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 half of 2009.
Sagient Research also announced that Cooley Godward Kronish, LLP ranked as the number one most active issuer counsel, Greenberg Traurig, LLP ranked as the number one most active investor counsel, and Proskauer Rose, LLP ranked as the number one most active placement agent counsel in the U.S. PIPE market during the first half of 2009.
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 League Tables, Robert F. Kyle, executive vice president of Sagient Research said, "After a dismal first quarter, the second quarter of 2009 marked a return to substantial financing activity in the PIPE market. Through June 30th, a total of $30.4 billion was raised in 484 transactions (of this amount $9.3 billion has been announced but not yet closed as of 7/1/09). Reflecting the positive sentiment and reduction in volatility in the general market, we saw a return to the market by both active investors and agents who had been largely absent during the most recent quarters. On the structuring front, we witnessed an increase in registered direct activity, as the line between the private and public markets continued to be blurred. As always, we congratulate all of the active agents, investors, and legal counsel in the PIPE market for a tremendous first half, especially those leaders who topped the League Tables. Many of these firms are long-time clients of PlacementTracker, and we look forward to continuing to provide them with industry leading data, research, and analytics to help keep them on top of this market."
PlacementTracker's dynamically updating League Tables are available online at: http://www.sagientresearch.com/pt/leaguetables.cfm.
The 2009 U.S. PIPE Market Investment Banking League Table
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By Number of Transactions (through 6/30/09):
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Transaction
Placement Agent Name Count Total Amount Placed
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Rodman & Renshaw, LLC 29 $ 420,638,005.00
Piper Jaffray & Co. 9 $ 298,016,771.00
Lazard 9 $ 286,359,962.00
Roth Capital Partners, LLC 8 $ 172,280,113.00
Canaccord Adams, Inc. 7 $ 166,163,961.00
Midtown Partners & Co., LLC 5 $ 30,989,080.00
Oppenheimer & Co., Inc. 4 $ 101,982,137.00
Chardan Capital Markets 4 $ 10,627,742.00
Cowen and Company, LLC 3 $ 53,874,562.00
Merriman Curhan Ford & Co. 3 $ 42,069,353.00
Thomas Weisel Partners, LLC 3 $ 37,225,000.00
Pritchard Capital Partners LLC 2 $ 131,036,945.00
Wunderlich Securities, Inc. 2 $ 97,525,583.00
RBC Capital Markets, Inc. 2 $ 65,480,010.00
Jefferies & Company, Inc. 2 $ 49,975,000.00
Deutsche Bank Securities, Inc. 2 $ 49,375,001.00
Needham & Company, Inc. 2 $ 43,050,000.00
JMP Securities, LLC 2 $ 39,480,012.00
Toll Cross Securities, Inc. 2 $ 26,150,031.00
Wedbush PacGrow Life Sciences 2 $ 22,000,000.00
Philadelphia Brokerage Corporation 2 $ 17,027,997.00
Garden State Securities, Inc. 2 $ 11,302,307.00
Dundee Securities Corporation 2 $ 10,297,654.00
Security Research Associates, Inc. 2 $ 2,830,375.00
Morgan Stanley 1 $ 350,000,000.00
Investment Banking rankings exclude all 144-A Offerings, Reg S Placements, Equity Lines of Credit, Rights Offerings, Bought Deals, and all PIPE transactions conducted by International 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 transactions reported as of 7/1/09.
The 2009 U.S. PIPE Market Institutional Investor League Table
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By Number of Transactions (through 6/30/09):
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Transaction Total Amount
Investor Name Count Invested
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Iroquois Capital L.P. 12 $ 43,739,492.00
Downsview Capital, Inc. 11 $ 36,975,120.00
Hudson Bay Capital Management L.P. 8 $ 31,379,158.00
Wellington Management Company, LLP 5 $ 87,363,993.00
Heights Capital Management, Inc. 5 $ 37,700,019.00
Vicis Capital, LLC 5 $ 20,500,000.00
Empery Asset Management L.P. 5 $ 11,560,000.00
Atoll Asset Management, LLC 5 $ 5,935,005.00
BAM Capital, LLC 4 $ 17,155,536.00
Bay City Capital, LLC 4 $ 15,256,586.00
Vision Capital Advisors, LLC 4 $ 8,189,655.00
The Frost Group, LLC 3 $ 59,480,000.00
Proquest Associates, LLC 3 $ 19,999,998.00
Ramius, LLC 3 $ 16,000,000.00
New Enterprise Associates 3 $ 11,672,708.00
Venrock Associates 3 $ 9,433,625.00
MGP Advisors, LLC 3 $ 8,625,001.00
Rockmore Investment Master Fund, Ltd. 3 $ 6,178,205.00
U.S. Bancorp Piper Jaffray Asset Mgmt. 3 $ 1,043,988.00
Gemini Strategies, LLC 3 $ 1,000,000.00
Federated Investment Management Co. 3 Not Disclosed
Matlin Patterson Global Advisers, LLC 2 $ 350,000,000.00
Deerfield Capital Management 2 $ 127,500,000.00
Annaly Capital Management 2 $ 90,078,591.00
Silver Lake 2 $ 60,000,000.00
Investor rankings exclude all 144-A Offerings, Reg S Placements, Equity Lines of Credit, Rights Offerings, Bought Deals, and all PIPE transactions conducted by International 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 transactions reported as of 7/1/09.
The 2009 PIPE Market Issuer Counsel League Table
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By Number of Transactions (through 6/30/09):
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Transaction Total Amount
Legal Counsel Count Advised
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Cooley Godward Kronish, LLP 10 $ 188,849,981.00
DLA Piper 8 $ 63,048,465.00
Stradling, Yocca, Carlson & Rauth, PC 7 $ 112,641,944.00
Sichenzia Ross Friedman Ference, LLP 7 $ 49,589,081.00
Morgan, Lewis & Bockius, LLP 5 $ 277,027,997.00
Wilson Sonsini Goodrich & Rosati 5 $ 211,546,929.00
Troutman Sanders, LLP 4 $ 176,272,165.00
Latham & Watkins, LLP 4 $ 158,728,705.00
Wilmer Cutler Pickering Hale & Dorr, LLP 4 $ 104,208,255.00
Dorsey & Whitney, LLP 4 $ 104,164,546.00
Greenberg Traurig, LLP 4 $ 77,300,000.00
K&L Gates, LLP 4 $ 76,805,992.00
Goodwin Procter, LLP 4 $ 64,750,000.00
Mintz, Levin, Cohn, Ferris, Glovsky & 4 $ 48,970,000.00
Popeo, PC
Edwards Angell Palmer & Dodge, LLP 4 $ 34,144,200.00
Vinson & Elkins, LLP 3 $ 248,294,005.00
O'Melveny & Myers, LLP 3 $ 181,436,500.00
Pepper Hamilton, LLP 3 $ 53,322,210.00
Silverman, Sclar, Shin & Byrne, PLLC 3 $ 32,375,000.00
Baker & McKenzie 3 $ 21,432,325.00
Morrison & Foerster, LLP 3 $ 15,000,006.00
Cozen O'Connor 3 $ 4,782,500.00
Trombly Business Law 3 $ 4,694,353.00
Wachtell, Lipton, Rosen & Katz 2 $ 600,000,000.00
Kutak Rock, LLP 2 $ 305,320,000.00
Legal counsel rankings exclude all 144-A Offerings, Reg S Placements, Equity Lines of Credit, Rights Offerings, Bought Deals, and all PIPE transactions conducted by International issuers that trade in the U.S. on the Pink Sheets. Data is for closed transactions reported as of 7/1/09.
The 2009 PIPE Market Investor Counsel League Table
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By Number of Transactions (through 6/30/09):
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Transaction Total Amount
Legal Counsel Count Advised
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Greenberg Traurig, LLP 14 $ 289,942,195.00
Schulte Roth & Zabel, LLP 10 $ 229,221,208.00
Feldman Weinstein & Smith, LLP 4 $ 20,400,000.00
Latham & Watkins, LLP 3 $ 368,000,000.00
Simpson Thacher Bartlett, LLP 3 $ 135,000,000.00
O'Melveny & Myers, LLP 3 $ 111,348,705.00
Goodwin Procter, LLP 3 $ 50,000,012.00
Bush Ross, PA 3 $ 19,000,000.00
Weil, Gotshal & Manges, LLP 2 $ 273,000,000.00
Seward & Kissel 2 $ 88,636,362.00
Proskauer Rose, LLP 2 $ 31,206,000.00
Cooley Godward Kronish, LLP 2 $ 9,060,848.00
Bingham McCutchen, LLP 2 $ 7,170,000.00
Lowenstein Sandler, PC 2 $ 3,500,000.00
Gibson, Dunn & Crutcher, LLP 1 $4,000,000,000.00
Munger, Tolles & Olson, LLP 1 $4,000,000,000.00
Sullivan & Cromwell 1 $ 300,000,000.00
Locke Lord Bissell & Liddell, LLP 1 $ 300,000,000.00
Willkie, Farr & Gallagher 1 $ 175,241,797.00
Klienberg, Kaplan Wolff & Cohen, PC 1 $ 99,999,998.00
Morgan, Lewis & Bockius, LLP 1 $ 65,465,076.00
Alston & Bird, LLP 1 $ 52,500,000.00
Skadden, Arps, Slate, Meagher & Flom, LLP 1 $ 50,000,000.00
Shearman & Sterling, LLP 1 $ 50,000,000.00
Elias, Matz, Tiernan & Herrick, LLP 1 $ 50,000,000.00
Legal counsel rankings exclude all 144-A Offerings, Reg S Placements, Equity Lines of Credit, Rights Offerings, Bought Deals, and all PIPE transactions conducted by International issuers that trade in the U.S. on the Pink Sheets. Data is for closed transactions reported as of 7/1/09.
The 2009 PIPE Market Placement Agent Counsel League Table
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By Number of Transactions (through 6/30/09):
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Transaction Total Amount
Legal Counsel Count Advised
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Proskauer Rose, LLP 12 $ 280,678,546.00
Feldman Weinstein & Smith LLP 12 $ 121,182,350.00
Goodwin Procter, LLP 7 $ 208,335,771.00
Weinstein Smith LLP 6 $ 92,999,992.00
Lowenstein Sandler, PC 6 $ 20,955,603.00
Latham & Watkins, LLP 2 $ 51,209,997.00
Dechert, LLP 2 $ 38,555,130.00
Morrison & Foerster, LLP 2 $ 28,499,562.00
Choate, Hall & Stewart, LLP 2 $ 22,000,000.00
Skadden, Arps, Slate, Meagher & Flom, LLP 1 $ 300,000,000.00
Richardson & Patel, LLP 1 $ 300,000,000.00
Pillsbury, Winthrop, Shaw & Pittman, LLP 1 $ 30,000,000.00
Andrews & Kurth, LLP 1 $ 21,838,799.00
K&L Gates LLP 1 $ 11,974,375.00
Lesser, Hunter, Taubman & Taubman 1 $ 4,345,000.00
Legal counsel rankings exclude all 144-A Offerings, Reg S Placements, Equity Lines of Credit, Rights Offerings, Bought Deals, and all PIPE transactions conducted by International issuers that trade in the U.S. on the Pink Sheets. Data is for closed transactions reported as of 7/1/09.
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 both 2007 and 2008 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.