Dealer-dealer Cowen has confirmed it is going to purchase the funding banking arm of Dallas-based MHT Companions, because it appears to deepen protection of middle-markets and personal fairness traders.
Cowen has signed a definitive settlement for the acquisition, which is topic to Monetary Trade Regulatory Authority (FINRA) approval and anticipated to shut within the fourth quarter this yr. The phrases of the acquisition weren’t disclosed.
The MHT Companions funding banking workforce, primarily based primarily in Dallas and San Francisco, is anticipated to affix Cowen underneath the settlement.
“We’re thrilled to affix Cowen’s full-service platform and leverage its world attain, world-class analysis, and complete product set to proceed rising our advisory work and ship considerably extra worth and assets for our shoppers and workforce members,” stated Mike McGill, MHT managing director, and co-founder.
“With its entrepreneurial spirit, Cowen shall be an incredible new house to construct on this success and ship distinctive worth to our shoppers and alternative to our workforce.”
MHT Companions is a middle-market funding financial institution serving shoppers in shopper development, enterprise and knowledge companies, training, and different sectors. Its shopper base consists of family-owned firms, massive companies, and personal fairness and venture-backed enterprises.
“Cowen’s momentum in funding banking displays our dedication to serving the dynamic firms that gas the worldwide economic system. Accelerating that technique, we welcome MHT Companions’ spectacular banking workforce to the Cowen platform,” stated Larry Wieseneck, co-president of Cowen and Firm.
“The MHT workforce gives deep trade data and relationships, particularly throughout the Companies and Client sectors. Their experience as an advisor to modern, area of interest market leaders, in addition to to personal fairness companies and household places of work, enhances and extends Cowen’s already vital providing to those key shoppers.”
In July, Cowen expanded its UK-headquartered execution companies enterprise with 4 senior buying and selling hires from main establishments together with Citi, Societe Generale, and Macquarie.
The broker-dealer confirmed that the brand new senior hires inside Cowen Execution Companies comply with latest development in buying and selling on its platform after launching in October final yr and since executing round $75 billion in non-dollar trades.