PlacementTracker Publishes 2007 PIPE Market League Tables and Announces Another Record Year in the PIPE Market Friday, January 25, 2008; Posted: 08:04 AM
SAN DIEGO, Jan 25, 2008 (PrimeNewswire via COMTEX) -- SRYS | news | PowerRating | PR Charts -- 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 Enable Capital Management ranked as the number one most active institutional investor in the PIPE market in 2007.
Sagient Research further announced that 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 2007.
Sagient Research also announced a record year for financing in the PIPE market with a total of $83.59 Billion raised in 1,434 transactions. 2007 is the fourth consecutive record-setting year in the PIPE market.
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, "The PIPE market hit historic levels in 2007. With over $45 Billion raised in the fourth quarter alone, the 2007 full year total exceeded the previous record level of $29.35 Billion set in 2006 by 185%. Contributing significantly to this year's activity was the series of mega-PIPE transaction undertaken in the second half of the year by financial services firms seeking to bolster their balance sheets in response to subprime debt related write-downs. Excluding these approximately $40 Billion in transactions, 2007 was still a record year for conventional PIPE issuances, exceeding the 2006 total by 50%. Based on the activity this year, this is no longer a question that the PIPE market is a critical component of the corporate financing landscape and we fully expect growth in the market to continue at all levels in 2008. As always, we congratulate all of the active agents, investors, and legal counsel in the PIPE market for a tremendous first quarter, 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."
The 2007 PIPE Market Investment Banking League Table ---------------------------------------------------- By Number of Transactions: --------------------------
Placement Agent Name Transaction Count Total Amount Placed -------------------- ----------------- -------------------- Rodman & Renshaw, LLC 53 $ 931,182,341.00 Roth Capital Partners, LLC 40 $ 723,282,459.00 Oppenheimer & Co., Inc. 21 $ 456,232,530.00 Lazard 17 $ 1,000,204,904.00 Piper Jaffray & Co. 15 $ 323,648,139.00 Midtown Partners & Co., LLC 15 $ 52,478,669.00 Canaccord Adams, Inc. 14 $ 285,124,501.00 Citigroup Global Markets, Inc. 13 $ 3,969,595,892.00 Lehman Brothers, Inc. 13 $ 3,370,203,873.00 Cowen and Company, LLC 13 $ 403,508,339.00 Merriman Curhan Ford & Co. 13 $ 193,903,817.00 RBC Capital Markets, Inc. 12 $ 2,101,823,015.00 Jefferies & Company, Inc. 12 $ 655,267,553.00 Empire Financial Group, Inc. 11 $ 54,794,783.00 BMO Capital Markets Corp. 10 $ 383,990,502.00 ThinkEquity Partners, LLC 10 $ 334,944,479.00 Palladium Capital Advisors, LLC 10 $ 40,432,909.00 UBS Investment Bank 9 $ 2,635,796,814.00 Brean Murray, Carret & Co. 9 $ 161,705,855.00 Wachovia Securities, Inc. 8 $ 330,021,519.00 Maxim Group, LLC 8 $ 88,995,813.00 Axiom Capital Management, Inc. 8 $ 66,100,008.00 Westminster Securities Corp. 8 $ 48,377,732.00 First Montauk Securities, Inc. 8 $ 25,814,201.00 Banc of America Securities, LLC 7 $ 309,063,151.00
Investment Banking rankings exclude all 144-A Offerings, Reg S Placements, Equity Lines of Credit, and all PIPE transactions conducted by Canadian issuers that trade in the U.S. on the OTC-BB or 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 as reported as of 1/24/08.
The 2007 PIPE Market Institutional Investor League Table -------------------------------------------------------- By Number of Transactions: --------------------------
Investor Name Transaction Count Total Amount Invested ------------- ----------------- -------------------- Enable Capital Management 85 $ 214,441,651.00 Iroquois Capital, L.P. 65 $ 52,572,318.00 Rockmore Investment Master Fund, Ltd. 54 $ 27,063,009.00 Heights Capital Management, Inc. 52 $ 7,500,048.00 Downsview Capital, Inc. 50 $ 28,529,844.00 UBS Capital Americas,LLC 48 $ 169,683,788.00 Lehman Brothers, Inc. 45 $ 1,019,833,811.00 Highbridge International, LLC 45 $ 487,671,450.00 Hudson Bay Capital Management, L.P. 44 $ 131,534,516.00 LH Financial Services Corp. 42 $ 13,004,242.93 Yorkville Advisors, LLC 36 $ 144,865,890.00 Atoll Asset Management, LLC 36 $ 35,645,890.00 Vision Capital Advisors LLC 35 $ 104,767,053.00 Fort Mason Capital 33 $ 78,183,394.00 Heller Capital Partners 33 $ 24,038,388.00 Cantara (Switzerland) S.A. 33 $ 15,743,063.00 Whitebox Advisors, LLC 30 $ 127,700,484.00 Chestnut Ridge Partners, L.P. 30 $ 8,290,245.55 Whalehaven Fund, Ltd. 29 $ 11,513,162.00 Bristol Capital Advisors, LLC 27 $ 17,468,099.00 Nite Capital Management, LLC 27 $ 7,733,707.00 Morgan Stanley 26 $ 365,489,907.00 Credit Suisse Asset Management, LLC 25 $ 269,253,866.00 SF Capital Partners, Inc. 25 $ 70,788,766.00 Roswell Capital Partners, LLC 23 $ 32,892,742.00
Investor rankings exclude all 144-A Offerings, Reg S Placements, Equity Lines of Credit, and all PIPE transactions conducted by Canadian issuers that trade in the placecountry-regionU.S. on the OTC-BB or Pink Sheets. Investors classified as Corporate Investors and Insurance Companies have been excluded from this ranking. Data is as reported as of 1/24/08.
The 2007 PIPE Market Issuer Counsel League Table ------------------------------------------------ By Number of Transactions: --------------------------
Legal counsel rankings exclude all 144-A Offerings, Reg S Placements, Equity Lines of Credit, and all PIPE transactions conducted by Canadian issuers that trade in the country-regionplaceU.S. on the OTC-BB or Pink Sheets. Data is as reported as of 1/24/08
The 2007 PIPE Market Investor Counsel League Table -------------------------------------------------- By Number of Transactions: --------------------------
Legal counsel rankings exclude all 144-A Offerings, Reg S Placements, Equity Lines of Credit, and all PIPE transactions conducted by Canadian issuers that trade in the country-regionplaceU.S. on the OTC-BB or Pink Sheets. Data is as reported as of 1/24/08.
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. In September 2007, Sagient Research was named to the inaugural Inc. 5000 list of fastest growing companies. For more information, please visit the Sagient Research Systems website at www.sagientresearch.com.
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SOURCE: Sagient Research Systems
Sagient Research Systems Brian M. Overstreet 858-200-2350
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