SAN DIEGO, Jan. 7, 2011 (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 Downsview Capital, Inc., ranked as the number one most active institutional investor in the U.S. PIPE market during 2010.
Sagient Research also announced that Sichenzia Ross Friedman Ference, LLP ranked as the number one most active issuer counsel, Schulte Roth & Zabel, LLP ranked as the number one most active investor counsel, and Weinstein Smith, LLP ranked as the number one most active placement agent counsel in the U.S. PIPE market during 2010.
PlacementTracker, a flagship product of Sagient Research Systems, is well recognized as the leading provider of research, data, and analytics covering the PIPE market.
During 2010, a total of $40.2 billion was raised in 1,203 transactions (of this amount, 61 transactions totaling $969 million have been announced but not yet closed as of 1/5/10). Commenting on the activity in the PIPE market in 2010, Tassanee Sukramule, Vice President of PlacementTracker said, "This year, we saw a significant decrease in the aggregate dollar amount of sub-$50m market cap companies completing deals. In 2009, we saw 583 deals for $6.5 billion. This year, we saw 509 deals for only $3.1 billion. While the overall market dollar amount of the PIPE market remained at the $39 billion level in 2009 and 2010, the decrease in the microcap space was negated by the large uptick in the $100-$300 million market cap issuers. These issuers increased their offerings from $4.64 billion in 2009 to $6.64 billion in 2010. We congratulate all of the active members of the PIPE community for successfully remaining steadfast during the economic uncertainty of 2010. Many of these firms are long-time customers of PlacementTracker, and we are dedicated to furnishing them with the most relevant data for our industry."
PlacementTracker's dynamically updating League Tables are available online at: http://www.sagientresearch.com/pt/leaguetables.cfm.
|
The 2010 U.S. PIPE Market Investment Banking League Table By Number of Transactions (through 12/31/10): |
||
| Placement Agent Name | Transaction Count | Total Amount Placed |
| Rodman & Renshaw, LLC | 77 | $1,220,781,745 |
| Roth Capital Partners, LLC | 49 | $1,103,712,836 |
| Lazard | 26 | $994,968,084 |
| Chardan Capital Markets | 19 | $178,277,810 |
| Jefferies & Company, Inc. | 16 | $2,200,442,744 |
| Canaccord Genuity Inc. | 15 | $522,252,665 |
| RBC Capital Markets, Inc. | 14 | $811,108,693 |
| Sandler O'Neill & Partners, L.P. | 13 | $1,340,513,499 |
| Keefe, Bruyette & Woods, Inc. | 13 | $573,822,622 |
| Merriman Curhan Ford & Company | 13 | $455,347,967 |
| Needham & Company, LLC | 13 | $405,097,609 |
| Maxim Group LLC | 12 | $128,223,771 |
| Wedbush PacGrow Life Sciences | 11 | $496,237,230 |
| Stifel Nicolaus Weisel | 11 | $430,382,541 |
| JMP Securities LLC | 11 | $323,150,202 |
| Global Hunter Securities, LLC | 11 | $249,009,268 |
| Bank of America Merrill Lynch | 10 | $1,796,178,445 |
| Ladenburg Thalmann & Co., Inc. | 10 | $97,064,200 |
| Morgan Stanley | 9 | $2,244,790,000 |
| J.P. Morgan Chase & Co. | 9 | $1,320,074,131 |
| Oppenheimer & Co. Inc. | 9 | $320,513,001 |
| Robert W. Baird & Co. | 9 | $319,795,496 |
| William Blair & Company, LLC | 9 | $243,506,320 |
| Haywood Securities, Inc. | 9 | $76,928,554 |
| Brean Murray, Carret & Co. | 8 | $239,877,830 |
| Investment Banking rankings exclude all 144-A Offerings, Equity Lines of Credit, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign 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 01/06/11. | ||
|
The 2010 U.S. PIPE Market Investment Banking League Table By Total Amount Placed (through 12/31/10): |
||
| Placement Agent Name | Transaction Count | Total Amount Placed |
| Morgan Stanley | 9 | $2,244,790,000 |
| Jefferies & Company, Inc. | 16 | $2,200,442,744 |
| China International Capital Corp. Hong Kong | 1 | $1,838,800,000 |
| Goldman Sachs (Asia) LLC | 1 | $1,838,800,000 |
| Nomura International (Hong Kong) Limited | 1 | $1,838,800,000 |
| Bank of America Merrill Lynch | 10 | $1,796,178,445 |
| Citigroup Global Markets Limited | 2 | $1,578,176,750 |
| Deutsche Bank AG, London Branch | 2 | $1,578,176,750 |
| UBS Limited | 2 | $1,578,176,750 |
| Barclays Capital, Inc. | 5 | $1,393,707,460 |
| Sandler O'Neill & Partners, L.P. | 13 | $1,340,513,499 |
| J.P. Morgan Chase & Co. | 9 | $1,320,074,131 |
| Rodman & Renshaw, LLC | 77 | $1,220,781,745 |
| Roth Capital Partners, LLC | 49 | $1,103,712,836 |
| Lazard | 26 | $994,968,084 |
| RBC Capital Markets, Inc. | 14 | $811,108,693 |
| FBR Capital Markets | 2 | $730,000,000 |
| Wells Fargo Securities, LLC | 6 | $690,042,500 |
| Keefe, Bruyette & Woods, Inc. | 13 | $573,822,622 |
| Canaccord Genuity Inc. | 15 | $522,252,665 |
| Wedbush PacGrow Life Sciences | 11 | $496,237,230 |
| Merriman Curhan Ford & Company | 13 | $455,347,967 |
| Credit Suisse Securities (USA) LLC | 4 | $443,057,200 |
| Stifel Nicolaus Weisel | 11 | $430,382,541 |
| Citigroup Global Markets, Inc. | 5 | $424,224,676 |
|
Investment Banking rankings exclude all 144-A Offerings, Equity Lines of Credit, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign 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 01/05/11. |
||
|
The 2010 U.S. PIPE Market Institutional Investor League Table By Number of Transactions (through 12/31/10): |
||
| Investor Name | Transaction Count | Total Amount Invested |
| Downsview Capital, Inc. | 43 | $40,522,094 |
| Iroquois Capital L.P. | 37 | $49,648,461 |
| Hudson Bay Capital Management L.P. | 36 | $64,060,434 |
| Heights Capital Management, Inc. | 31 | $36,819,605 |
| AQR Capital Management, LLC | 31 | $26,108,935 |
| Citadel Advisors, LLC | 28 | $15,840,414 |
| LH Financial Services Corporation | 27 | $15,563,089 |
| Heller Capital Partners | 21 | $3,170,105 |
| D.E. Shaw & Co., L.P. | 21 | Not Disclosed |
| Fidelity Management & Research | 20 | $137,231,495 |
| Wellington Management Company LLP | 20 | $105,754,648 |
| Deerfield Management | 19 | $193,530,005 |
| Millennium Management, LLC | 19 | $13,243,230 |
| UBS O'Connor LLC | 19 | $2,375,000 |
| Highbridge International, LLC | 19 | $950,003 |
| AWM Investment Management (MGP) | 18 | $22,000,000 |
| DAFNA Capital Management, LLC | 18 | $2,937,005 |
| Empery Asset Management LP | 17 | $40,663,794 |
| Ramius LLC | 17 | $14,535,571 |
| Jayhawk Capital Management, L.L.C. | 16 | $19,506,381 |
| Global Capital Advisors, LLC | 16 | $6,996,251 |
| Chestnut Ridge Partners, L.P. | 15 | $5,560,970 |
| Midsummer Capital, LLC | 13 | $7,278,993 |
| Straus Capital Management LLC | 13 | $4,788,136 |
| Kingsbrook Partners, LP | 12 | $7,598,581 |
| Investor rankings exclude all 144-A Offerings, Equity Lines of Credit, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign 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 01/06/11. | ||
|
The 2010 PIPE Market Issuer Counsel League Table By Number of Transactions (through 12/31/10): |
||
| Legal Counsel | Transaction Count | Total Amount Advised |
| Sichenzia Ross Friedman Ference, LLP | 27 | $142,557,376 |
| Dorsey & Whitney, LLP | 21 | $634,882,760 |
| Greenberg Traurig, LLP | 15 | $289,521,505 |
| Mintz, Levin, Cohn, Ferris, Glovsky & Popeo | 14 | $118,474,729 |
| Loeb & Loeb, LLP | 13 | $324,428,289 |
| Pillsbury, Winthrop, Shaw & Pittman, LLP | 13 | $145,853,781 |
| K&L Gates LLP | 13 | $88,478,401 |
| Anslow & Jaclin, LLP | 12 | $121,569,229 |
| Latham & Watkins, LLP | 11 | $648,606,455 |
| Cooley LLP | 11 | $343,666,004 |
| Goodwin Procter, LLP | 10 | $259,281,852 |
| DLA Piper | 10 | $139,900,132 |
| Cooley Godward Kronish LLP | 9 | $273,457,010 |
| Wilmer Cutler Pickering Hale & Dorr, LLP | 9 | $247,655,044 |
| Wilson Sonsini Goodrich & Rosati | 8 | $319,155,368 |
| Morgan, Lewis & Bockius, LLP | 8 | $260,996,458 |
| O'Melveny & Myers, LLP | 8 | $190,359,596 |
| Ellenoff Grossman & Schole LLP | 8 | $62,988,022 |
| Vinson & Elkins, LLP | 7 | $1,118,732,976 |
| Troutman Sanders, LLP | 7 | $120,515,419 |
| Paul, Hastings, Janofsky & Walker, LLP | 7 | $79,759,802 |
| Perkins Coie, LLP | 6 | $164,383,739 |
| Bingham McCutchen, LLP | 6 | $139,997,491 |
| Morrison & Foerster, LLP | 6 | $136,433,500 |
| Holland & Hart, LLP | 6 | $99,922,773 |
| Legal counsel rankings exclude all 144-A Offerings, Equity Lines of Credit, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the Pink Sheets. Data is for closed transactions reported as of 01/06/11. | ||
|
The 2010 PIPE Market Investor Counsel League Table By Number of Transactions (through 12/31/10): |
||
| Legal Counsel | Transaction Count | Total Amount Advised |
| Schulte Roth & Zabel, LLP | 85 | $4,302,332,954 |
| Greenberg Traurig, LLP | 55 | $7,607,579,647 |
| Seward & Kissel LLP | 8 | $6,563,419,708 |
| Lowenstein Sandler, PC | 8 | $121,571,550 |
| Grushko & Mittman, PC | 8 | $16,674,998 |
| Skadden, Arps, Slate, Meagher & Flom, LLP | 7 | $757,200,000 |
| Weinstein Smith LLP | 7 | $17,807,260 |
| Baker Botts, LLP | 5 | $792,668,455 |
| Katten Muchin Rosenman, LLP | 5 | $229,170,001 |
| Ropes & Gray | 5 | $130,200,000 |
| Peter J. Weisman, PC | 5 | $56,057,103 |
| Anslow & Jaclin, LLP | 5 | $25,364,320 |
| Wachtell, Lipton, Rosen & Katz | 4 | $928,300,007 |
| Bingham McCutchen, LLP | 4 | $114,000,000 |
| Quarles & Brady, LLP | 4 | $13,000,000 |
| Willkie, Farr & Gallagher | 3 | $6,379,999,996 |
| Cleary, Gottlieb, Steen & Hamilton | 3 | $1,865,906,729 |
| Weil, Gotshal & Manges, LLP | 3 | $930,005,620 |
| Simpson Thacher Bartlett, LLP | 3 | $309,267,850 |
| Morrison & Foerster, LLP | 3 | $169,800,000 |
| Orrick, Herrington & Sutcliffe, LLP | 3 | $103,439,000 |
| Latham & Watkins, LLP | 3 | $50,000,000 |
| Cooley Godward Kronish LLP | 3 | $38,134,000 |
| White White & Van Etten, LLP | 3 | $10,093,750 |
| Gardere Wynne Sewell, LLP | 2 | $220,000,003 |
|
Legal counsel rankings exclude all 144-A Offerings, Equity Lines of Credit, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the Pink Sheets. Data is for closed transactions reported as of 01/06/11. |
||
|
The 2010 PIPE Market Placement Agent Counsel League Table By Number of Transactions (through 12/31/10): |
||
| Legal Counsel | Transaction Count | Total Amount Advised |
| Weinstein Smith LLP | 69 | $697,412,144 |
| Lowenstein Sandler, PC | 29 | $385,808,711 |
| Goodwin Procter, LLP | 20 | $422,525,918 |
| Proskauer Rose, LLP | 19 | $510,024,594 |
| Latham & Watkins, LLP | 6 | $313,123,000 |
| Blake, Cassels & Graydon LLP | 6 | $50,616,642 |
| Morrison & Foerster, LLP | 5 | $170,635,974 |
| Pillsbury, Winthrop, Shaw & Pittman, LLP | 5 | $87,100,027 |
| Skadden, Arps, Slate, Meagher & Flom, LLP | 4 | $554,762,000 |
| Dewey & LeBoeuf LLP | 4 | $176,974,503 |
| Kilpatrick Stockton LLP | 4 | $42,147,500 |
| K&L Gates LLP | 4 | $35,798,178 |
| Greenberg Traurig, LLP | 4 | $28,557,306 |
| Davis Polk & Wardwell LLP | 3 | $1,660,456,750 |
| Choate, Hall & Stewart, LLP | 3 | $128,458,269 |
| Andrews Kurth, LLP | 3 | $106,967,040 |
| Bracewell & Giuliani LLP | 3 | $102,619,993 |
| Sichenzia Ross Friedman Ference, LLP | 3 | $69,680,729 |
| Leser, Hunter, Taubman & Taubman | 3 | $52,956,596 |
| Mintz, Levin, Cohn, Ferris, Glovsky & Popeo | 3 | $22,975,000 |
| Littman Krooks, LLP | 3 | $5,992,500 |
| Fried, Frank, Harris, Shriver & Jacobson | 2 | $354,027,499 |
| Baker Botts, LLP | 2 | $118,277,500 |
| DLA Piper | 2 | $79,249,994 |
| Cooley LLP | 2 | $40,500,000 |
|
Legal counsel rankings exclude all 144-A Offerings, Equity Lines of Credit, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the Pink Sheets. Data is for closed transactions reported as of 01/06/11. |
||
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 each of 2007, 2008, and 2009 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.
The Sagient Research Systems logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7294