SAN DIEGO, April 25, 2006 (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 No. 1 investment bank in the PIPE market in the first quarter 2006 for total number of transactions. Nite Capital Management, LLC topped the list of most active institutional investors during the first quarter 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, "The first quarter of 2006 continued the active pace of deal flow that started in the second half of 2005. During the quarter we recorded 352 transactions totaling $6.87 billion in equity and equity-linked capital raised (excluding Structured Equity Lines and Canadian domiciled issuers). This represented a transaction count increase of 6.67% over the first quarter of 2005 and an 11.33% increase in total amount raised over the first quarter of 2005. As always, we congratulate all of the active agents and investors in the PIPE market for a tremendous 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 Q1 2006 PIPE Market Investment Banking League Table
By Number of Transactions:
Deal
Placement Agent Name Count Amount
-------------------- ----- ------
Rodman & Renshaw, LLC 11 $ 198,021,345.00
Cowen & Co., LLC 8 $ 322,999,968.00
Midtown Partners & Co., LLC 7 $ 20,956,282.00
Dawson James Securities, Inc. 6 $ 27,822,542.00
Banc of America Securities, LLC 5 $ 162,562,520.00
Roth Capital Partners, LLC 5 $ 92,450,672.00
HPC Capital Management Corporation 5 $ 19,861,098.00
Broadband Capital Management, LLC 4 $ 240,863,500.00
Jefferies & Co., Inc. 4 $ 203,994,000.00
Sanders Morris Harris, Inc. 4 $ 37,996,103.00
Laidlaw & Company (UK) Ltd. 4 $ 18,581,469.00
J.P. Morgan Chase & Co. 3 $ 490,524,500.00
Harris Nesbitt Corporation 3 $ 94,495,513.00
C.K. Cooper & Company, Inc. 3 $ 52,850,001.00
Brean Murray, Carret & Co. 3 $ 51,339,000.00
Oppenheimer & Co., Inc. 3 $ 45,077,999.00
Stonegate Securities, Inc. 3 $ 31,800,000.00
C.E. Unterberg, Towbin 3 $ 22,025,501.00
Ascendiant Securities, LLC 3 $ 20,500,000.00
Merriman Curhan Ford & Company 3 $ 17,319,000.00
H.C. Wainwright & Co., Inc. 3 $ 10,650,005.00
Fearnley Fonds ASA 2 $ 950,710,000.00
Carnegie ASA 2 $ 950,710,000.00
Pareto Securities 2 $ 950,710,000.00
Lehman Brothers, Inc. 2 $ 233,500,000.00
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 4/25/06.
The Q1 2006 PIPE Market Institutional Investor League Table
By Number of Transactions:
Investor Name Count Amount
------------- ----- ------
Nite Capital Management, LLC 29 $ 11,378,352.00
Iroquois Capital, L.P. 28 $ 23,904,291.00
Highbridge International, LLC 18 $ 57,809,156.00
Cornell Capital Partners, L.P. 17 $ 87,951,491.00
Downsview Capital, Inc. 16 $ 12,901,974.00
LH Financial Services Corporation 16 $ 8,675,000.00
Heights Capital Management, Inc. 15 $ 29,915,999.00
Enable Capital Management 14 $ 11,917,304.00
NIR Group, LLC 14 $ 11,812,495.00
Bristol Capital Advisors, LLC 14 $ 10,864,370.00
Whalehaven Fund, Ltd. 14 $ 10,110,000.00
Magnetar Capital Master Fund, Ltd. 13 $ 52,592,000.00
Cantara (Switzerland) SA 12 $ 4,460,000.00
Fort Mason Capital 10 $ 26,975,041.00
UBS Capital Americas, LLC 10 $ 19,463,369.00
DKR Management Company, Inc. 9 $ 5,025,749.00
Ramius Capital Group, LLC 8 $ 23,370,250.00
SF Capital Partners, Inc. 8 $ 22,115,458.00
SDS Management, LLC 8 $ 8,581,148.00
Paramount Capital Asset Management 8 $ 3,410,111.00
Balyasny Asset Management, L.P. 7 $ 15,999,142.00
Hudson Bay Capital Management, L.P. 7 $ 3,790,001.00
Goldman Sachs & Co. 6 $ 22,740,509.00
Staro Asset Management, LLC 6 $ 22,375,000.00
MGP Advisors, L.L.C. 6 $ 20,249,983.00
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 4/25/06.
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.