PlacementTracker Publishes 2006 PIPE Market League Tables
SAN DIEGO, Jan. 24, 2007 (PRIME NEWSWIRE) (PRIMEZONE) -- 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 PIPE market in 2006.
For the first time, PlacementTracker also published legal counsel PIPE market league tables. In 2006, Sichenzia Ross Friedman Ference, LLP ranked as the number one most active issuer counsel and Schulte Roth & Zabel, LLP ranked as the number one most active investor counsel in the PIPE market in 2006.
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, "2006 was a record year in the PIPE market. During 2006, we recorded 1,326 PIPE transactions totaling $28.14 billion in equity and equity-linked capital raised (excluding Structured Equity Lines and Canadian domiciled issuers). This set all time single year record highs in both the number of transactions and the total dollar value invested. We experienced explosive deal flow in the first half of the year, a slowdown in the third quarter, and then a record fourth quarter helped us set a new single year record. Despite recent media speculation about a potential slow down in the PIPE market, the data and the record fourth quarter results clearly show that the market continues along at an exceptionally strong pace. As always, we congratulate all of the active agents, investors, and legal counsel in the PIPE market for a tremendous 2006, 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 2006 PIPE Market Investment Banking League Table
By Number of Transactions:
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Placement Transaction Total Amount
Agent Name Count Placed
-------------------------- ----------- -------------------
Rodman & Renshaw, LLC 45 $ 851,699,007.00
Roth Capital Partners, LLC 30 $ 402,974,610.00
Cowen and Company, LLC 29 $ 1,234,664,932.00
Banc of America Securities, LLC 18 $ 750,030,629.00
Midtown Partners & Co., LLC 17 $ 55,669,975.00
C.E. Unterberg, Towbin 16 $ 316,186,856.00
Jefferies & Company, Inc. 15 $ 897,692,686.00
Westminster Securities Corp. 13 $ 61,042,489.00
Lehman Brothers, Inc. 12 $ 1,306,692,291.00
Piper Jaffray & Co. 12 $ 288,833,818.00
Sanders Morris Harris, Inc. 12 $ 214,408,908.00
Oppenheimer & Co. Inc. 11 $ 179,852,802.00
Lazard 10 $ 406,717,742.00
Merriman Curhan Ford & Co. 10 $ 273,748,957.00
HPC Capital Management Corp. 10 $ 44,813,604.00
RBC Capital Markets, Inc. 9 $ 514,725,187.00
Canaccord Adams, Inc. 9 $ 186,301,331.00
Maxim Group, LLC 9 $ 91,286,145.00
Dawson James Securities, Inc. 9 $ 61,606,327.00
Deutsche Bank Securities, Inc. 8 $ 926,200,098.00
ThinkEquity Partners, LLC 8 $ 186,944,500.00
Ascendiant Securities, LLC 8 $ 35,003,277.00
Fairhills Capital 8 $ 14,000,000.00
CIBC World Markets 7 $ 257,783,901.00
Thomas Weisel Partners, LLC 7 $ 248,289,668.00
Investment Banking rankings exclude all Equity Line of Credit transactions and all PIPE transactions conducted by Canadian domiciled issuers. 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 as reported as of 1/23/07.
The 2006 PIPE Market Institutional Investor League Table
By Number of Transactions:
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Transaction Total Amount
Investor Name Count Invested
----------------------- ----------- ----------------
Iroquois Capital, L.P. 117 $ 110,452,142.00
Nite Capital Management, LLC 108 $ 40,625,295.00
Highbridge International, LLC 71 $ 189,224,689.00
Enable Capital Management 66 $ 109,176,439.00
Downsview Capital, Inc. 63 $ 45,698,453.00
Cornell Capital Partners, L.P. 55 $ 260,996,490.00
NIR Group, LLC 52 $ 63,508,462.00
LH Financial Services Corp. 52 $ 22,895,381.00
Heights Capital Management, Inc. 48 $ 140,069,120.00
Bristol Capital Advisors, LLC 47 $ 22,711,253.00
Whalehaven Fund, Ltd. 42 $ 23,016,038.00
Cantara (Switzerland) S.A. 42 $ 18,662,342.00
UBS Capital Americas, LLC 40 $ 98,621,845.00
SF Capital Partners, Inc. 38 $ 96,279,526.00
Ramius Capital Group, LLC 37 $ 121,562,551.00
Hudson Bay Capital Management L.P. 37 $ 47,872,810.00
Atoll Asset Management, LLC 35 $ 22,601,365.00
Magnetar Capital Master Fund, Ltd. 34 $ 167,206,103.00
Rockmore Investment Master Fund, Ltd. 32 $ 29,088,620.00
Fort Mason Capital 31 $ 103,160,506.00
Vision Capital Advisors, LLC 31 $ 54,435,755.00
Paramount BioSciences, LLC 31 $ 12,741,704.00
Lehman Brothers, Inc. 29 $ 167,688,752.00
Crestview Capital Partners, LLC 26 $ 35,472,826.00
DKR Management Company, Inc. 25 $ 104,866,978.00
Investor rankings exclude all Equity Line of Credit transactions and all PIPE transactions conducted by Canadian domiciled issuers. Investors classified as Corporate Investors and Insurance Companies have been excluded from this ranking. Data is as reported as of 1/23/07.
The 2006 PIPE Market Issuer Counsel League Table
By Number of Transactions:
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Counsel Transaction Total Amount
Name Count Advised
-------------------------- ----------- -----------------
Sichenzia Ross Friedman
Ference, LLP 59 $ 198,044,993.00
Greenberg Traurig, LLP 24 $ 410,594,648.00
Cooley Godward, LLP 17 $ 488,596,923.00
Kirkpatrick & Lockhart
Nicholson Graham, LLP 17 $ 154,074,947.00
Anslow & Jaclin, LLP 17 $ 39,050,000.00
Morgan, Lewis & Bockius, LLP 16 $ 389,100,977.00
Mintz, Levin, Cohn, Ferris,
Glovsky & Popeo, PC 12 $ 360,082,467.00
Richardson & Patel, LLP 12 $ 45,680,020.00
Wilmer Cutler Pickering Hale
& Dorr, LLP 10 $ 281,494,757.00
Wilson Sonsini Goodrich & Rosati 10 $ 269,999,993.00
Ropes & Gray 10 $ 194,216,614.00
Heller Ehrman, LLP 10 $ 134,532,344.00
Vinson & Elkins, LLP 9 $ 724,932,076.00
Bryan Cave, LLP 9 $ 54,270,669.00
McGuireWoods, LLP 8 $ 157,471,059.00
Latham & Watkins, LLP 8 $ 128,821,727.00
Ellenoff Grossman & Schole,
LLP 7 $ 264,337,798.00
DLA Piper Rudnick Gray Cary
US, LLP 7 $ 153,354,450.00
Patton Boggs, LLP 7 $ 136,634,645.00
Stradling, Yocca, Carlson &
Rauth, PC 7 $ 102,556,344.00
Maslon Edelman Borman &
Brand, LLP 7 $ 100,565,091.00
Arnold & Porter 7 $ 89,363,986.00
Gottbetter & Partners, LLP 7 $ 76,689,697.00
Loeb & Loeb, LLP 7 $ 51,400,005.00
Skadden, Arps, Slate,
Meagher & Flom, LLP 6 $2,229,351,687.00
Investor rankings exclude all Equity Line of Credit transactions and all PIPE transactions conducted by Canadian domiciled issuers. Data is as reported as of 1/23/07.
The 2006 PIPE Market Investor Counsel League Table
By Number of Transactions:
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Legal Transaction Total Amount
Counsel Count Advised
------------------------ ----------- ------------------
Schulte Roth & Zabel, LLP 60 $ 2,683,567,499.00
Feldman Weinstein, LLP 45 $ 216,799,898.00
Ballard, Spahr, Andrews &
Ingersoll, LLP 43 $ 71,955,000.00
Kramer Levin Naftalis &
Frankel, LLP 19 $ 84,662,366.00
Grushko & Mittman, PC 17 $ 39,957,500.00
Lowenstein Sandler, PC 12 $ 107,066,960.00
Morrison & Foerster, LLP 10 $ 137,542,144.00
Malhotra & Associates, LLP 9 $ 66,727,502.00
Greenberg Traurig, LLP 8 $ 206,957,050.00
Peter J. Weisman, PC 6 $ 33,194,000.00
McDermott, Will & Emery 5 $ 86,000,000.00
Olshan Grundman Frome
Rosenzweig & Wolosky 5 $ 39,805,000.00
Katten Muchin Rosenman, LLP 4 $ 155,000,000.00
Drinker Biddle & Reath, LLP 4 $ 75,550,000.00
Skadden, Arps, Slate, Meagher
& Flom, LLP 4 $ 53,755,714.00
Latham & Watkins, LLP 4 $ 50,500,000.00
Krieger & Prager, LLP 4 $ 36,420,000.00
Bryan Cave, LLP 4 $ 29,500,196.00
Dorsey & Whitney, LLP 4 $ 12,359,000.00
Sichenzia Ross Friedman
Ference, LLP 4 $ 9,904,952.00
Baker Botts, LLP 3 $ 577,250,003.00
Vinson & Elkins, LLP 3 $ 518,000,298.00
Fried, Frank, Harris,
Shriver & Jacobson 3 $ 430,000,008.00
Pillsbury, Winthrop, Shaw &
Pittman, LLP 3 $ 310,000,008.00
Dechert, LLP 3 $ 117,138,233.00
Investor rankings exclude all Equity Line of Credit transactions and all PIPE transactions conducted by Canadian domiciled issuers. Data is as reported as of 1/23/07.
About Sagient Research Systems
Sagient Research Systems is a publisher of independent research. We develop, produce, and sell proprietary research products to mutual funds, hedge funds, and investment banks. 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 to the financial services and institutional investment communities. For more information, please visit the Sagient Research Systems website at www.sagientresearch.com.
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