SAN DIEGO, July 13, 2012 (GLOBE NEWSWIRE) -- Sagient Research Systems, a leading publisher of independent research for the financial services and institutional investment communities, today announced that Roth Capital Partners, LLC ranked as the number one most active investment bank and Heights Capital Management, Inc. ranked as the number one most active institutional investor in the U.S. PIPE market during the first half of 2012.
Sagient Research also announced that Cooley LLP ranked as the number one most active issuer counsel, Schulte Roth & Zabel, LLP ranked as the number one most active investor counsel, and Goodwin Procter, LLP ranked as the number one most active placement agent counsel in the U.S. PIPE market through the first half of 2012.
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 activity in the PIPE market, Robert Kyle, Sagient Research's Chief Executive Officer said, "During the first half of 2012, a total of $12.4 billion was raised in 475 transactions (of this amount, 28 transactions totaling $94 million have been announced but not yet closed as of 7/11/12). This compares to $13.9 billion raised through 573 transactions during the first half of 2011. Concerns over Europe and the global economy have prevented the bounce back for the capital markets in 2012 that many in our industry had foreseen earlier in the year. However, the trend towards larger, quality deals in the private placement market continued, with average deal size up 14% over the same period a year ago. We congratulate all of the active members of the PIPE community for continued success in 2012. Most of these firms are long-time clients of PlacementTracker, and we are dedicated to continuing to provide them with market leading data and analytics for our ever-changing industry."
PlacementTracker's dynamically updating League Tables are available online at: http://www.placementtracker.com/pt/leaguetables.cfm.
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The First Half 2012 U.S. PIPE Market Investment Banking League Table By Number of Transactions (through 7/11/12): |
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| Placement Agent Name | Transaction Count | Total Amount Placed |
| Roth Capital Partners, LLC | 25 | $ 594,955,389 |
| Rodman & Renshaw, LLC | 24 | $ 395,988,547 |
| Cowen and Company, LLC | 18 | $ 889,628,078 |
| JMP Securities LLC | 16 | $ 595,869,049 |
| Jefferies & Company, Inc. | 14 | $ 833,313,000 |
| Leerink Swann, LLC | 12 | $ 720,064,077 |
| Lazard | 11 | $ 528,742,388 |
| Piper Jaffray & Co. | 10 | $ 489,453,135 |
| Stifel Nicolaus Weisel | 10 | $ 424,310,754 |
| Canaccord Genuity Inc. (US) | 10 | $ 312,074,278 |
| Aegis Capital Corporation | 10 | $ 128,093,501 |
| Oppenheimer & Co. Inc. | 9 | $ 379,225,000 |
| Ladenburg Thalmann & Co., Inc. | 8 | $ 178,586,417 |
| Craig-Hallum Capital Group LLC | 7 | $ 133,358,705 |
| Maxim Group LLC | 7 | $ 121,770,099 |
| Wedbush PacGrow Life Sciences | 6 | $ 292,788,928 |
| Barclays Capital, Inc. | 5 | $ 978,500,624 |
| J.P. Morgan Chase & Co. | 5 | $ 312,119,903 |
| William Blair & Company, LLC | 5 | $ 147,037,530 |
| Needham & Company, LLC | 5 | $ 141,128,818 |
| Global Hunter Securities, LLC | 5 | $ 109,489,884 |
| Chardan Capital Markets | 5 | $ 18,736,500 |
| Sandler O'Neill & Partners, L.P. | 4 | $ 132,984,000 |
| National Securities Corporation | 4 | $ 60,042,419 |
| Merriman Capital, Inc | 4 | $ 34,130,212 |
| Investment Banking rankings exclude all 144-A Offerings, Equity Lines of Credit, At the Market Transactions, 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 and definitive agreement transactions reported as of 7/11/12. | ||
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The First Half 2012 U.S. PIPE Market Investment Banking League Table By Total Amount Placed (through 7/11/12): |
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| Placement Agent Name | Transaction Count | Total Amount Placed |
| Barclays Capital, Inc. | 5 | $ 978,500,624 |
| Cowen and Company, LLC | 18 | $ 889,628,078 |
| Jefferies & Company, Inc. | 14 | $ 833,313,000 |
| Leerink Swann, LLC | 12 | $ 720,064,077 |
| JMP Securities LLC | 16 | $ 595,869,049 |
| Roth Capital Partners, LLC | 25 | $ 594,955,389 |
| DnB NOR Markets | 2 | $ 550,000,000 |
| Nordea Bank Denmark A/S | 2 | $ 550,000,000 |
| Arctic Securities | 2 | $ 550,000,000 |
| Lazard | 11 | $ 528,742,388 |
| Wells Fargo Securities, LLC | 3 | $ 496,675,024 |
| Piper Jaffray & Co. | 10 | $ 489,453,135 |
| Goldman, Sachs & Co. | 2 | $ 469,575,599 |
| Stifel Nicolaus Weisel | 10 | $ 424,310,754 |
| Rodman & Renshaw, LLC | 24 | $ 395,988,547 |
| Oppenheimer & Co. Inc. | 9 | $ 379,225,000 |
| RS Platou Markets AS | 2 | $ 327,000,000 |
| Pareto Securities | 2 | $ 313,144,000 |
| J.P. Morgan Chase & Co. | 5 | $ 312,119,903 |
| Canaccord Genuity Inc. (US) | 10 | $ 312,074,278 |
| SEB Enskilda AS | 1 | $ 300,000,000 |
| Wedbush PacGrow Life Sciences | 6 | $ 292,788,928 |
| Citigroup Global Markets, Inc. | 3 | $ 279,309,964 |
| ABG Sundal Collier | 1 | $ 250,000,000 |
| Deutsche Bank AG, London Branch | 1 | $ 250,000,000 |
| Investment Banking rankings exclude all 144-A Offerings, Equity Lines of Credit, At the Market Transactions, 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 and definitive agreement transactions reported as of 7/11/12. | ||
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The First Half 2012 U.S. PIPE Market Institutional Investor League Table By Number of Transactions (through 7/11/12): |
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| Investor Name | Transaction Count | Total Amount Invested |
| Heights Capital Management, Inc. | 26 | $ 139,785,349 |
| Fidelity Management & Research Corporation | 24 | $ 159,482,325 |
| Hudson Bay Capital Management L.P. | 23 | $ 110,898,742 |
| Downsview Capital, Inc. | 18 | $ 10,415,978 |
| Iroquois Capital L.P. | 16 | $ 7,062,007 |
| Kingsbrook Partners, LP | 15 | $ 8,844,866 |
| Deerfield Management | 13 | $ 41,350,001 |
| UBS O'Connor LLC | 13 | $ 13,343,746 |
| Millennium Management, LLC | 13 | Not Disclosed |
| Columbia Management Investment Advisers, LLC | 12 | $ 4,144,560 |
| DAFNA Capital Management, LLC | 10 | $ 4,250,002 |
| S.A.C. Capital Advisors, LLC | 10 | Not Disclosed |
| Baker Brothers Advisors, LLC | 9 | $ 35,300,000 |
| Empery Asset Management LP | 9 | $ 30,779,564 |
| Citadel Advisors, LLC | 9 | $ 25,990,901 |
| Ayer Capital Management, LP | 9 | $ 12,750,000 |
| Perceptive Advisors, LLC | 9 | $ 2,000,000 |
| D.E. Shaw & Co., L.P. | 9 | Not Disclosed |
| T. Rowe Price Associates, Inc. | 8 | $ 73,055,700 |
| Sabby Management, LLC | 8 | $ 14,047,977 |
| Moore Capital Management LLC | 8 | $ 12,500,001 |
| Wellington Management Company LLP | 8 | $ 11,430,000 |
| Frost Group, LLC (The) | 8 | $ 10,500,000 |
| AQR Capital Management, LLC | 8 | Not Disclosed |
| Tenor Capital Management | 7 | $ 27,250,009 |
| Investor rankings exclude all 144-A Offerings, Equity Lines of Credit, At the Market Transactions, 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 and definitive agreement transactions reported as of 7/11/12. | ||
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The First Half 2012 PIPE Market Issuer Counsel League Table By Number of Transactions (through 7/11/12): |
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| Legal Counsel | Transaction Count | Total Amount Advised |
| Cooley LLP | 20 | $ 906,085,588 |
| Sichenzia Ross Friedman Ference, LLP | 10 | $ 73,469,962 |
| Latham & Watkins, LLP | 7 | $ 167,589,500 |
| Skadden, Arps, Slate, Meagher & Flom, LLP | 6 | $ 972,635,806 |
| Wilson Sonsini Goodrich & Rosati | 6 | $ 129,543,210 |
| Greenberg Traurig, LLP | 6 | $ 96,207,627 |
| Jones Day | 5 | $ 618,530,005 |
| Dorsey & Whitney, LLP | 5 | $ 148,740,879 |
| Vinson & Elkins, LLP | 4 | $ 894,687,508 |
| Fenwick & West, LLP | 4 | $ 366,203,640 |
| Ropes & Gray | 4 | $ 132,700,020 |
| Morrison & Foerster, LLP | 4 | $ 53,113,023 |
| DLA Piper | 4 | $ 38,077,500 |
| Graubard Miller | 4 | $ 29,895,003 |
| K&L Gates LLP | 4 | $ 17,415,001 |
| Anslow & Jaclin, LLP | 4 | $ 8,999,000 |
| Stradling, Yocca, Carlson & Rauth, PC | 3 | $ 292,907,001 |
| Paul Hastings LLP | 3 | $ 110,378,499 |
| Goodwin Procter, LLP | 3 | $ 105,101,000 |
| Woodburn & Wedge | 3 | $ 104,687,505 |
| Haynes and Boone, LLP | 3 | $ 79,119,000 |
| Wilmer Cutler Pickering Hale & Dorr, LLP | 3 | $ 77,018,030 |
| Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC | 3 | $ 39,009,200 |
| Baker & Hostetler, LLP | 3 | $ 36,032,729 |
| TroyGould PC | 3 | $ 26,907,255 |
| Legal counsel rankings exclude all 144-A Offerings, Equity Lines of Credit, At the Market Transactions, 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 and definitive agreement transactions reported as of 7/11/12. | ||
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The First Half 2012 PIPE Market Investor Counsel League Table By Number of Transactions (through 7/11/12): |
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| Legal Counsel | Transaction Count | Total Amount Advised |
| Schulte Roth & Zabel, LLP | 33 | $ 1,554,465,611 |
| Greenberg Traurig, LLP | 13 | $ 159,385,588 |
| Ropes & Gray | 6 | $ 176,684,001 |
| Ellenoff Grossman & Schole LLP | 6 | $ 32,668,000 |
| Latham & Watkins, LLP | 5 | $ 1,154,057,610 |
| Grushko & Mittman, PC | 4 | $ 7,360,000 |
| Baker Botts, LLP | 3 | $ 497,387,431 |
| Sullivan & Cromwell | 3 | $ 97,299,988 |
| Sichenzia Ross Friedman Ference, LLP | 3 | $ 12,906,281 |
| Munger, Tolles & Olson, LLP | 2 | $ 805,000,055 |
| DLA Piper | 2 | $ 475,000,031 |
| Thompson & Knight, LLP | 2 | $ 280,000,325 |
| Wilson Sonsini Goodrich & Rosati | 2 | $ 203,463,240 |
| Skadden, Arps, Slate, Meagher & Flom, LLP | 2 | $ 79,848,903 |
| Katten Muchin Rosenman, LLP | 2 | $ 33,000,000 |
| Davies Ward Phillips & Vineberg, LLP | 1 | $ 101,967,221 |
| Lakatos, Köves and Partners | 1 | $ 100,000,000 |
| Simpson Thacher Bartlett, LLP | 1 | $ 67,069,000 |
| Paul, Weiss, Rifkind, Wharton & Garrison | 1 | $ 65,000,000 |
| Liner Grode Stein LLP | 1 | $ 45,000,000 |
| Vinson & Elkins, LLP | 1 | $ 40,001,000 |
| SNR Denton US LLP | 1 | $ 40,000,000 |
| Buchanan Ingersoll & Rooney, PC | 1 | $ 34,848,903 |
| Davis Graham & Stubbs, LLP | 1 | $ 30,000,000 |
| Kim & Chang | 1 | $ 30,000,000 |
| Legal counsel rankings exclude all 144-A Offerings, Equity Lines of Credit, At the Market Transactions, 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 and definitive agreement transactions reported as of 7/11/12. | ||
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The First Half 2012 PIPE Market Placement Agent Counsel League Table By Number of Transactions (through 7/11/12): |
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| Legal Counsel | Transaction Count | Total Amount Advised |
| Goodwin Procter, LLP | 25 | $ 664,430,427 |
| Ellenoff Grossman & Schole LLP | 21 | $ 106,831,541 |
| Latham & Watkins, LLP | 12 | $ 809,696,138 |
| Proskauer Rose, LLP | 9 | $ 285,683,003 |
| Lowenstein Sandler, PC | 8 | $ 67,831,948 |
| Sullivan & Cromwell | 4 | $ 247,418,750 |
| Zysman, Aharoni, Gayer & Company Law Offices | 4 | $ 17,627,883 |
| Davis Polk & Wardwell | 2 | $ 101,375,000 |
| Dewey & LeBoeuf LLP | 2 | $ 81,908,750 |
| Ropes & Gray | 2 | $ 55,500,150 |
| K&L Gates LLP | 2 | $ 47,485,500 |
| Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC | 2 | $ 43,699,556 |
| Goodmans, LLP | 2 | $ 39,760,376 |
| Andrews Kurth, LLP | 1 | $ 250,000,024 |
| Morrison & Foerster, LLP | 1 | $ 200,000,000 |
| Willkie, Farr & Gallagher | 1 | $ 90,000,018 |
| Covington & Burling | 1 | $ 50,150,000 |
| Reed Smith, LLP | 1 | $ 45,000,000 |
| Gibson, Dunn & Crutcher, LLP | 1 | $ 41,944,500 |
| Osler, Hoskin & Harcourt LLP | 1 | $ 40,336,250 |
| Cooley LLP | 1 | $ 37,375,000 |
| Choate, Hall & Stewart, LLP | 1 | $ 27,551,766 |
| LeClairRyan, PC | 1 | $ 23,000,010 |
| Skadden, Arps, Slate, Meagher & Flom, LLP | 1 | $ 22,485,881 |
| Dickinson Wright, PLLC | 1 | $ 17,274,495 |
| Legal counsel rankings exclude all 144-A Offerings, Equity Lines of Credit, At the Market Transactions, 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 and definitive agreement transactions reported as of 7/11/12. | ||
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, 2009, and 2010, 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.
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