Cowen Group, Inc. (Cowen Group) is a holding company. It is a diversified financial services firm and, together with its subsidiaries, provides alternative investment management, investment banking, research, and sales and trading services. The Company operates in two business segments: Ramius and its affiliates consist of the Company's alternative investment management segment, and Cowen and Company, LLC (Cowen and Company) is its broker-dealer segment. Cowen Group’s alternative investment management products, solutions and services include hedge funds, replication products, mutual funds, managed futures funds, fund of funds, real estate, healthcare royalty funds, and cash management services offered primarily under the Ramius name. Its institutional investors include pension funds, insurance companies, banks, wealth management organizations and family offices. On February 16, 2011, the acquisition of LaBranche & Co Inc. (LaBranche) by Cowen Group was consummated.