San Diego, Jan. 9, 2013 (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 Fidelity Management & Research Corporation ranked as the number one most active institutional investor in the U.S. PIPE market during 2012. We are also pleased to announce that Cowen and Company, LLC ranked as the most active investment bank in the busiest segment of the market, the healthcare sector.
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 Ellenoff Grossman & Schole LLP ranked as the number one most active placement agent counsel in the U.S. PIPE market during 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, "A total of $33 billion was raised in 834 transactions in the U.S. PIPE market in 2012 (of this amount, 10 transactions totaling $261 million have been announced but not yet closed as of 1/07/13). This compares to just $26.6 billion raised through 924 transactions during all of 2011. The trend towards a larger average deal size continued, helped in part by hybrid structures that have enticed increasingly larger companies to access this market. 2012 was also a year of change for the PIPE market, with long time market leaders shutting their doors, and others forming new groups to pick up where they left off. We congratulate all of the active members of the PIPE community, and wish them continued success in 2013. Most of these firms are long-time clients of PlacementTracker, and we are dedicated to providing them with the resources to stay on top of our ever-changing industry."
PlacementTracker's dynamically updating League Tables are available online at: http://www.placementtracker.com/leaguetables.cfm. To better understand how BioMedTracker can complement your PlacementTracker subscription to fully understand the competitive landscape for issuers you invest in or advise, please click here.
The 2012 U.S. PIPE Market Investment Banking League Table
By Number of Transactions:
| Placement Agent Name | Transaction Count | Total Amount Placed |
| Roth Capital Partners, LLC | 38 | $ 783,337,133 |
| Rodman & Renshaw, LLC | 30 | $ 421,219,432 |
| Jefferies & Company, Inc. | 29 | $ 1,789,475,341 |
| Cowen and Company, LLC | 29 | $ 1,537,204,020 |
| JMP Securities LLC | 27 | $ 1,196,287,211 |
| Piper Jaffray & Co. | 21 | $ 1,064,661,765 |
| Lazard | 20 | $ 842,213,006 |
| Aegis Capital Corporation | 19 | $ 207,045,673 |
| Leerink Swann, LLC | 18 | $ 1,076,642,527 |
| Stifel Nicolaus Weisel | 18 | $ 828,521,126 |
| Oppenheimer & Co. Inc. | 17 | $ 796,426,814 |
| Ladenburg Thalmann & Co., Inc. | 17 | $ 321,336,430 |
| Canaccord Genuity Inc. (US) | 16 | $ 661,073,123 |
| Maxim Group LLC | 15 | $ 238,834,601 |
| Craig-Hallum Capital Group LLC | 13 | $ 186,600,241 |
| Chardan Capital Markets | 12 | $ 43,910,030 |
| William Blair & Company, LLC | 11 | $ 494,359,848 |
| Wedbush PacGrow Life Sciences | 10 | $ 591,697,531 |
| J.P. Morgan Chase & Co. | 9 | $ 657,091,003 |
| Barclays Capital, Inc. | 8 | $ 2,036,621,624 |
| Summer Street Research Partners | 8 | $ 248,576,500 |
| Needham & Company, LLC | 8 | $ 235,503,818 |
| National Securities Corporation | 7 | $ 79,269,619 |
| Dawson James Securities, Inc. | 7 | $ 27,505,435 |
| Palladium Capital Advisors, LLC | 7 | $ 22,954,751 |
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 1/07/13.
The 2012 U.S. Healthcare PIPE Market Investment Banking League Table
By Number of Transactions:
| Placement Agent Name | Transaction Count | Total Amount Placed |
| Cowen and Company, LLC | 28 | $ 1,502,204,020 |
| JMP Securities LLC | 27 | $ 1,196,287,211 |
| Jefferies & Company, Inc. | 25 | $ 1,490,472,720 |
| Roth Capital Partners, LLC | 25 | $ 574,010,663 |
| Rodman & Renshaw, LLC | 21 | $ 258,529,148 |
| Piper Jaffray & Co. | 19 | $ 957,818,015 |
| Leerink Swann, LLC | 18 | $ 1,076,642,527 |
| Oppenheimer & Co. Inc. | 15 | $ 746,119,564 |
| Stifel Nicolaus Weisel | 15 | $ 713,714,876 |
| Canaccord Genuity Inc. (US) | 14 | $ 618,739,123 |
| William Blair & Company, LLC | 11 | $ 494,359,848 |
| Ladenburg Thalmann & Co., Inc. | 11 | $ 203,472,890 |
| Aegis Capital Corporation | 11 | $ 120,980,015 |
| Lazard | 10 | $ 555,128,887 |
| Wedbush PacGrow Life Sciences | 9 | $ 531,897,531 |
| Maxim Group LLC | 9 | $ 148,890,465 |
| J.P. Morgan Chase & Co. | 8 | $ 612,091,003 |
| Summer Street Research Partners | 8 | $ 248,576,500 |
| Needham & Company, LLC | 6 | $ 210,023,818 |
| Wells Fargo Securities, LLC | 4 | $ 446,799,100 |
| RBC Capital Markets, Inc. | 4 | $ 213,225,106 |
| Credit Suisse Securities (USA) LLC | 4 | $ 190,500,001 |
| Griffin Securities, Inc. | 4 | $ 156,394,885 |
| Craig-Hallum Capital Group LLC | 4 | $ 44,395,000 |
| Morgan Stanley | 3 | $ 290,033,618 |
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 1/07/13.
The 2012 U.S. PIPE Market Investment Banking League Table
By Total Amount Placed:
| Placement Agent Name | Transaction Count | Total Amount Placed |
| Credit Suisse Securities (USA) LLC | 5 | $ 2,200,707,246 |
| Barclays Capital, Inc. | 8 | $ 2,036,621,624 |
| Jefferies & Company, Inc. | 29 | $ 1,789,475,341 |
| Cowen and Company, LLC | 29 | $ 1,537,204,020 |
| Citigroup Global Markets, Inc. | 5 | $ 1,389,145,964 |
| JMP Securities LLC | 27 | $ 1,196,287,211 |
| Bank of America Merrill Lynch | 4 | $ 1,180,628,492 |
| Deutsche Bank Securities, Inc. | 4 | $ 1,127,821,004 |
| Leerink Swann, LLC | 18 | $ 1,076,642,527 |
| Piper Jaffray & Co. | 21 | $ 1,064,661,765 |
| Lazard | 20 | $ 842,213,006 |
| Stifel Nicolaus Weisel | 18 | $ 828,521,126 |
| Oppenheimer & Co. Inc. | 17 | $ 796,426,814 |
| Roth Capital Partners, LLC | 38 | $ 783,337,133 |
| Wells Fargo Securities, LLC | 6 | $ 728,409,772 |
| Canaccord Genuity Inc. (US) | 16 | $ 661,073,123 |
| J.P. Morgan Chase & Co. | 9 | $ 657,091,003 |
| Wedbush PacGrow Life Sciences | 10 | $ 591,697,531 |
| DnB NOR Markets | 2 | $ 550,000,000 |
| Nordea Bank Denmark A/S | 2 | $ 550,000,000 |
| Arctic Securities | 2 | $ 550,000,000 |
| William Blair & Company, LLC | 11 | $ 494,359,848 |
| Goldman, Sachs & Co. | 2 | $ 469,575,599 |
| RS Platou Markets AS | 3 | $ 459,002,621 |
| Rodman & Renshaw, LLC | 30 | $ 421,219,432 |
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 1/07/13.
The 2012 U.S. PIPE Market Institutional Investor League Table
By Number of Transactions:
| Investor Name | Transaction Count | Total Amount Invested |
| Fidelity Management & Research Corporation | 45 | $ 190,685,292 |
| Heights Capital Management, Inc. | 33 | $ 140,566,841 |
| Millennium Management, LLC | 33 | Not Disclosed |
| Hudson Bay Capital Management L.P. | 29 | $ 115,356,242 |
| UBS O'Connor LLC | 26 | $ 14,318,746 |
| Teachers Insurance and Annuity Association | 26 | Not Disclosed |
| D.E. Shaw & Co., L.P. | 25 | Not Disclosed |
| Baker Brothers Advisors, LLC | 24 | $ 139,095,699 |
| Deerfield Management | 24 | $ 49,786,201 |
| Iroquois Capital L.P. | 23 | $ 12,144,508 |
| Columbia Management Investment Advisers, LLC | 22 | $ 4,144,560 |
| Downsview Capital, Inc. | 21 | $ 13,307,618 |
| Wellington Management Company LLP | 18 | $ 31,712,805 |
| Kingsbrook Partners, LP | 18 | $ 13,661,506 |
| T. Rowe Price Associates, Inc. | 17 | $ 79,893,668 |
| RA Capital Management, LLC | 17 | $ 20,486,235 |
| Perceptive Advisors, LLC | 17 | $ 7,925,000 |
| AQR Capital Management, LLC | 17 | Not Disclosed |
| AWM Investment Management (MGP Advisors, LLC) | 15 | $ 10,933,998 |
| DAFNA Capital Management, LLC | 15 | $ 5,066,452 |
| Brio Capital Management LLC | 14 | $ 3,600,001 |
| Citadel Advisors, LLC | 13 | $ 25,990,901 |
| Sabby Management, LLC | 13 | $ 23,912,154 |
| Ayer Capital Management, LP | 13 | $ 14,050,000 |
| Orbimed Advisors, LLC | 13 | $ 13,979,956 |
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 1/07/13.
The 2012 PIPE Market Issuer Counsel League Table
By Number of Transactions:
| Legal Counsel | Transaction Count | Total Amount Advised |
| Cooley LLP | 30 | $ 1,452,948,711 |
| Sichenzia Ross Friedman Ference, LLP | 20 | $ 104,712,634 |
| Latham & Watkins, LLP | 13 | $ 446,098,214 |
| Ropes & Gray | 11 | $ 345,454,622 |
| Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC | 11 | $ 266,076,867 |
| Greenberg Traurig, LLP | 11 | $ 186,413,545 |
| Morgan, Lewis & Bockius, LLP | 10 | $ 144,507,369 |
| DLA Piper | 9 | $ 146,238,495 |
| Morrison & Foerster, LLP | 9 | $ 84,413,024 |
| Skadden, Arps, Slate, Meagher & Flom, LLP | 8 | $ 4,192,635,806 |
| Wilson Sonsini Goodrich & Rosati | 8 | $ 197,446,460 |
| Dorsey & Whitney, LLP | 7 | $ 155,610,881 |
| Ellenoff Grossman & Schole LLP | 7 | $ 58,499,997 |
| Vinson & Elkins, LLP | 6 | $ 1,159,062,451 |
| Goodwin Procter, LLP | 6 | $ 171,463,541 |
| Wilmer Cutler Pickering Hale & Dorr, LLP | 6 | $ 153,336,788 |
| Loeb & Loeb, LLP | 6 | $ 145,806,194 |
| Thompson & Hine, LLP | 6 | $ 106,741,258 |
| K&L Gates LLP | 6 | $ 81,633,751 |
| Pillsbury, Winthrop, Shaw & Pittman, LLP | 6 | $ 77,005,002 |
| TroyGould PC | 6 | $ 75,157,255 |
| Anslow & Jaclin, LLP | 6 | $ 11,008,947 |
| Jones Day | 5 | $ 618,530,005 |
| Fenwick & West, LLP | 5 | $ 381,308,640 |
| Baker Botts, LLP | 5 | $ 100,000,008 |
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 1/07/13.
The 2012 PIPE Market Investor Counsel League Table
By Number of Transactions:
| Legal Counsel | Transaction Count | Total Amount Advised |
| Schulte Roth & Zabel, LLP | 80 | $ 2,861,255,894 |
| Greenberg Traurig, LLP | 24 | $ 379,808,105 |
| Latham & Watkins, LLP | 10 | $ 2,855,057,590 |
| Ellenoff Grossman & Schole LLP | 10 | $ 52,073,000 |
| Ropes & Gray | 7 | $ 210,931,522 |
| Sichenzia Ross Friedman Ference, LLP | 5 | $ 21,692,419 |
| Baker Botts, LLP | 4 | $ 722,387,374 |
| Simpson Thacher Bartlett, LLP | 4 | $ 549,919,000 |
| Vinson & Elkins, LLP | 4 | $ 535,001,007 |
| Grushko & Mittman, PC | 4 | $ 7,360,000 |
| DLA Piper | 3 | $ 490,000,031 |
| Wilson Sonsini Goodrich & Rosati | 3 | $ 233,463,240 |
| Sullivan & Cromwell | 3 | $ 97,299,988 |
| Katten Muchin Rosenman, LLP | 3 | $ 46,998,402 |
| Lowenstein Sandler, PC | 3 | $ 20,251,497 |
| Peter J. Weisman, PC | 3 | $ 5,145,000 |
| Munger, Tolles & Olson, LLP | 2 | $ 805,000,055 |
| Thompson & Knight, LLP | 2 | $ 280,000,325 |
| Sidley Austin LLP | 2 | $ 275,000,000 |
| Proskauer Rose, LLP | 2 | $ 80,000,000 |
| Skadden, Arps, Slate, Meagher & Flom, LLP | 2 | $ 79,848,903 |
| Jones Day | 2 | $ 62,000,012 |
| O'Melveny & Myers, LLP | 2 | $ 41,000,000 |
| Seward & Kissel LLP | 2 | $ 5,331,182 |
| Dow, Lohnes & Albertson, PLLC | 1 | $ 3,100,000,000 |
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 1/07/13.
The 2012 PIPE Market Placement Agent Counsel League Table
By Number of Transactions:
| Legal Counsel | Transaction Count | Total Amount Advised |
| Ellenoff Grossman & Schole LLP | 37 | $ 177,516,095 |
| Goodwin Procter, LLP | 36 | $ 1,046,261,442 |
| Latham & Watkins, LLP | 20 | $ 1,260,307,029 |
| Proskauer Rose, LLP | 16 | $ 502,334,416 |
| Lowenstein Sandler, PC | 12 | $ 105,177,147 |
| Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC | 6 | $ 124,335,560 |
| Sullivan & Cromwell | 5 | $ 257,423,709 |
| Reed Smith, LLP | 5 | $ 86,739,630 |
| Covington & Burling | 4 | $ 178,158,219 |
| Ropes & Gray | 4 | $ 155,375,150 |
| Cooley LLP | 4 | $ 147,724,992 |
| Zysman, Aharoni, Gayer & Company Law Offices | 4 | $ 17,627,883 |
| Davis Polk & Wardwell LLP | 3 | $ 188,022,620 |
| K&L Gates LLP | 3 | $ 71,735,500 |
| Littman Krooks, LLP | 3 | $ 22,284,808 |
| Sichenzia Ross Friedman Ference, LLP | 3 | $ 21,027,260 |
| Blank Rome LLP | 3 | $ 19,665,000 |
| Morrison & Foerster, LLP | 2 | $ 234,061,824 |
| Willkie, Farr & Gallagher | 2 | $ 190,033,618 |
| Davis Polk & Wardwell | 2 | $ 101,375,000 |
| Dewey & LeBoeuf LLP | 2 | $ 81,908,750 |
| Dechert, LLP | 2 | $ 51,999,993 |
| Goodmans, LLP | 2 | $ 39,760,376 |
| LeClairRyan, PC | 2 | $ 34,500,006 |
| Jones Day | 2 | $ 32,355,001 |
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 1/07/13.
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, 2010, and 2012 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.