SAN DIEGO, Oct. 16, 2007 (PRIME 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 Enable Capital Management ranked as the number one most active institutional investor in the PIPE market during the first three quarters of 2007.
Sagient Research also 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 during the first three quarters of 2007.
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 during the third quarter of 2007. With $38.89 Billion raised in 996 transactions during the first three quarters of the year, the market has already exceeded 2006's full year record levels by 33% (excluding Structured Equity Lines and Canadian issuers). What's particularly impressive is that the PIPE market remained active and open during the volatile summer meltdown in the wider marketplace; over $12 Billion was raised in July and August alone. If this pace continues, it is quite possible that the market will pass $50 Billion raised for the full year 2007. 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."
PlacementTracker's dynamically updating League Tables are available online at: http://www.sagientresearch.com/pt/leaguetables.cfm.
The 2007 PIPE Market Investment Banking League Table
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By Number of Transactions (through 9/30/07):
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Placement Agent Name Transaction Count Total Amount Placed
-------------------- ----------------- -------------------
Rodman & Renshaw, LLC 39 $ 719,640,364.00
Roth Capital Partners, LLC 27 $ 409,834,285.00
Oppenheimer & Co. Inc. 13 $ 267,066,004.00
Canaccord Adams, Inc. 12 $ 253,844,501.00
Jefferies & Company, Inc. 11 $ 630,267,553.00
Citigroup Global Markets, Inc. 10 $ 3,374,272,313.00
Lehman Brothers, Inc. 10 $ 2,870,553,849.00
Lazard 10 $ 255,104,904.00
Piper Jaffray & Co. 10 $ 197,450,638.00
RBC Capital Markets, Inc. 9 $ 1,931,954,450.00
Empire Financial Group, Inc. 9 $ 49,184,796.00
UBS Investment Bank 8 $ 2,605,346,799.00
ThinkEquity Partners, LLC 8 $ 278,272,829.00
Cowen and Company, LLC 8 $ 219,845,834.00
A.G. Edwards, Inc. / Wachovia 7 $ 247,021,519.00
Westminster Securities Corporation 7 $ 41,122,732.00
Midtown Partners & Co., LLC 7 $ 27,336,169.00
First Montauk Securities, Inc. 7 $ 24,480,001.00
Banc of America Securities LLC 6 $ 292,802,200.00
Collins Stewart Inc. 6 $ 112,761,325.00
Sanders Morris Harris Inc. 6 $ 79,500,785.00
Merriman Curhan Ford & Company 7 $ 86,343,222.00
Brean Murray, Carret & Co. 6 $ 70,305,719.00
Brimberg & Company, L.P. 6 $ 64,436,668.00
Burnham Hill Partners 6 $ 59,654,445.00
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 10/9/07.
The 2007 PIPE Market Institutional Investor League Table
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By Number of Transactions (through 9/30/07):
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Investor Name Transaction Count Total Amount Invested
------------- ----------------- ---------------------
Enable Capital Management 58 $ 158,227,690.00
Iroquois Capital L.P. 48 $ 35,806,183.00
Heights Capital Management, Inc. 44 $ 124,504,280.00
Lehman Brothers Inc. 39 $ 586,456,849.00
UBS Capital Americas, LLC 35 $ 78,700,959.00
Yorkville Advisors, LLC 32 $ 111,405,890.00
Hudson Bay Capital Management L.P. 31 $ 97,031,235.00
Cantara (Switzerland) SA 31 $ 15,193,063.00
Highbridge International, LLC 29 $ 428,294,728.00
Atoll Asset Management, LLC 29 $ 29,642,512.00
Fort Mason Capital 27 $ 64,883,373.00
LH Financial Services Corporation 27 $ 8,496,402.93
Heller Capital Partners 26 $ 18,200,275.00
Nite Capital Management, LLC 26 $ 7,483,709.00
Vision Capital Advisors LLC 25 $ 66,205,134.00
Crestview Capital Partners, LLC 22 $ 24,761,431.00
Bristol Capital Advisors, LLC 22 $ 13,745,179.00
Roswell Capital Partners, LLC 21 $ 29,892,742.00
Rockmore Investment Master
Fund, Limited 21 $ 10,526,386.00
Credit Suisse Asset Management,
LLC 20 $ 217,009,877.00
Morgan Stanley 20 $ 103,615,209.00
SF Capital Partners, Inc. 20 $ 54,526,267.00
Chestnut Ridge Partners, L.P. 20 $ 5,710,199.55
Zimmer Lucas Partners, LLC 19 $ 134,271,842.00
Whitebox Advisors, LLC 19 $ 58,974,819.00
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 U.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 10/9/07.
The 2007 PIPE Market Issuer Counsel League Table
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By Number of Transactions (through 9/30/07):
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Transaction
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Legal Counsel Count Total Amount Advised
------------- ----- --------------------
Sichenzia Ross Friedman Ference,
LLP 38 $ 218,853,960.00
Morgan, Lewis & Bockius, LLP 18 $ 493,835,444.00
Vinson & Elkins, LLP 15 $ 5,134,582,497.00
Greenberg Traurig, LLP 15 $ 127,726,436.00
Kirkpatrick & Lockhart Preston
Gates Ellis LLP 14 $ 98,318,983.00
Haynes and Boone, LLP 12 $ 320,244,443.00
Cooley Godward Kronish LLP 12 $ 186,300,109.00
DLA Piper Rudnick Gray Cary US, LLP 10 $ 203,061,006.00
Thelen Reid Brown Raysman &
Steiner LLC 10 $ 163,151,205.00
Skadden, Arps, Slate, Meagher
& Flom, LLP 9 $ 390,583,944.00
Richardson & Patel, LLP 8 $ 79,829,932.00
Hogan & Hartson, LLP 7 $ 109,956,132.00
Loeb & Loeb, LLP 7 $ 99,661,001.00
Mintz, Levin, Cohn, Ferris,
Glovsky & Popeo, PC 7 $ 98,038,603.00
Duane Morris, LLP 7 $ 86,000,878.00
Morrison & Foerster, LLP 7 $ 79,621,987.00
Wilson Sonsini Goodrich & Rosati 6 $ 1,110,000,001.00
Latham & Watkins, LLP 6 $ 720,911,587.00
Andrews & Kurth, LLP 6 $ 389,012,432.00
Wilmer Cutler Pickering Hale &
Dorr, LLP 6 $ 100,363,877.00
Maslon Edelman Borman & Brand, LLP 6 $ 97,589,161.00
Troy & Gould, PC 6 $ 70,153,015.00
Rutan & Tucker, LLP 6 $ 51,449,996.00
Gersten Savage, LLP 6 $ 28,338,668.00
Lowenstein Sandler, PC 5 $ 77,451,014.00
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 U.S. on the OTC-BB or Pink Sheets. Data is as reported as of 10/9/07.
The 2007 PIPE Market Investor Counsel League Table
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By Number of Transactions (through 9/30/07):
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Transaction
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Legal Counsel Count Total Amount Advised
------------- ----- --------------------
Schulte Roth & Zabel, LLP 92 $ 8,053,944,712.00
Lowenstein Sandler, PC 30 $ 289,445,566.00
Feldman Weinstein, LLP 26 $ 141,843,041.00
Grushko & Mittman, PC 15 $ 58,050,061.00
Kramer Levin Naftalis & Frankel, LLP 13 $ 81,924,975.00
Peter J. Weisman, PC 9 $ 40,628,831.00
Bryan Cave, LLP 8 $ 106,185,749.00
Dorsey & Whitney, LLP 8 $ 91,207,785.00
Vinson & Elkins, LLP 7 $ 1,225,012,175.00
Pillsbury, Winthrop, Shaw & Pittman,
LLP 7 $ 777,752,174.00
Simpson Thacher Bartlett, LLP 6 $ 1,757,636,590.00
Proskauer Rose, LLP 6 $ 122,400,000.00
Greenberg Traurig, LLP 6 $ 29,599,996.00
Baker Botts, LLP 5 $ 862,000,220.00
Barack Ferrazzano Kirschbaum &
Nagelberg LLP 5 $ 113,925,001.00
Cooley Godward Kronish LLP 4 $ 42,873,766.00
Olshan Grundman Frome Rosenzweig &
Wolosky 4 $ 12,405,632.00
Fried, Frank, Harris, Shriver &
Jacobson 3 $ 1,590,300,459.00
Weil, Gotshal & Manges, LLP 3 $ 643,000,000.00
Ropes & Gray 3 $ 396,177,603.00
Cravath, Swaine & Moore 3 $ 395,000,000.00
Latham & Watkins, LLP 3 $ 86,388,500.00
Arnold & Porter 3 $ 30,000,000.00
Krieger & Prager, LLP 3 $ 13,142,154.00
Loeb & Loeb, LLP 3 $ 12,450,000.00
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 U.S. on the OTC-BB or Pink Sheets. Data is as reported as of 10/9/07.
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. 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.