PlacementTracker Publishes 2006 PIPE

Market League Tables  

 

 

San Diego – January 24, 2007- 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 Iroquois Capital, L.P. ranked as the number one most active institutional investor in the PIPE market in 2006.

 

For the first time, PlacementTracker also published legal counsel PIPE market league tables.  In 2006, Sichenzia Ross Friedman Ference, LLP ranked as the number one most active issuer counsel and Schulte Roth & Zabel, LLP ranked as the number one most active investor counsel in the PIPE market in 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, “2006 was a record year in the PIPE market.  During 2006, we recorded 1,326 PIPE transactions totaling $28.14 billion in equity and equity-linked capital raised (excluding Structured Equity Lines and Canadian domiciled issuers).  This set all time single year record highs in both the number of transactions and the total dollar value invested.  We experienced explosive deal flow in the first half of the year, a slowdown in the third quarter, and then a record fourth quarter helped us set a new single year record.  Despite recent media speculation about a potential slow down in the PIPE market, the data and the record fourth quarter results clearly show that the market continues along at an exceptionally strong pace.  As always, we congratulate all of the active agents, investors, and legal counsel in the PIPE market for a tremendous 2006, 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 2006 PIPE Market Investment Banking League Table

By Number of Transactions

 

Placement Agent Name

Transaction Count

Total Amount Placed

Rodman & Renshaw, LLC

45

$851,699,007

Roth Capital Partners, LLC

30

$402,974,610

Cowen and Company, LLC

29

$1,234,664,932

Banc of America Securities, LLC

18

$750,030,629

Midtown Partners & Co., LLC

17

$55,669,975

C.E. Unterberg, Towbin

16

$316,186,856

Jefferies & Company, Inc.

15

$897,692,686

Westminster Securities Corp.

13

$61,042,489

Lehman Brothers, Inc.

12

$1,306,692,291

Piper Jaffray & Co.

12

$288,833,818

Sanders Morris Harris, Inc.

12

$214,408,908

Oppenheimer & Co. Inc.

11

$179,852,802

Lazard

10

$406,717,742

Merriman Curhan Ford & Co.

10

$273,748,957

HPC Capital Management Corp.

10

$44,813,604

RBC Capital Markets, Inc.

9

$514,725,187

Canaccord Adams, Inc.

9

$186,301,331

Maxim Group, LLC

9

$91,286,145

Dawson James Securities, Inc.

9

$61,606,327

Deutsche Bank Securities, Inc.

8

$926,200,098

ThinkEquity Partners, LLC

8

$186,944,500

Ascendiant Securities, LLC

8

$35,003,277

Fairhills Capital

8

$14,000,000

CIBC World Markets

7

$257,783,901

Thomas Weisel Partners, LLC

7

$248,289,668

 

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 1/23/07.

 

 

The 2006 PIPE Market Institutional Investor League Table

By Number of Transactions

 

Investor Name

Transaction Count

Total Amount Invested

Iroquois Capital, L.P.

117

$110,452,142

Nite Capital Management, LLC

108

$40,625,295

Highbridge International, LLC

71

$189,224,689

Enable Capital Management

66

$109,176,439

Downsview Capital, Inc.

63

$45,698,453

Cornell Capital Partners, L.P.

55

$260,996,490

NIR Group, LLC

52

$63,508,462

LH Financial Services Corp.

52

$22,895,381

Heights Capital Management, Inc.

48

$140,069,120

Bristol Capital Advisors, LLC

47

$22,711,253

Whalehaven Fund, Ltd.

42

$23,016,038

Cantara ( Switzerland ) S.A.

42

$18,662,342

UBS Capital Americas , LLC

40

$98,621,845

SF Capital Partners, Inc.

38

$96,279,526

Ramius Capital Group, LLC

37

$121,562,551

Hudson Bay Capital Management L.P.

37

$47,872,810

Atoll Asset Management, LLC

35

$22,601,365

Magnetar Capital Master Fund, Ltd.

34

$167,206,103

Rockmore Investment Master Fund, Ltd.

32

$29,088,620

Fort Mason Capital

31

$103,160,506

Vision Capital Advisors, LLC

31

$54,435,755

Paramount BioSciences, LLC

31

$12,741,704

Lehman Brothers, Inc.

29

$167,688,752

Crestview Capital Partners, LLC

26

$35,472,826

DKR Management Company, Inc.

25

$104,866,978

 

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 1/23/07.  

 

The 2006 PIPE Market Issuer Counsel League Table

By Number of Transactions

 

Counsel Name

Transaction Count

Total Amount Advised

Sichenzia Ross Friedman Ference, LLP

59

$198,044,993

Greenberg Traurig, LLP

24

$410,594,648

Cooley Godward, LLP

17

$488,596,923

Kirkpatrick & Lockhart Nicholson Graham, LLP

17

$154,074,947

Anslow & Jaclin, LLP

17

$39,050,000

Morgan, Lewis & Bockius, LLP

16

$389,100,977

Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC

12

$360,082,467

Richardson & Patel, LLP

12

$45,680,020

Wilmer Cutler Pickering Hale & Dorr, LLP

10

$281,494,757

Wilson Sonsini Goodrich & Rosati

10

$269,999,993

Ropes & Gray

10

$194,216,614

Heller Ehrman, LLP

10

$134,532,344

Vinson & Elkins, LLP

9

$724,932,076

Bryan Cave , LLP

9

$54,270,669

McGuireWoods, LLP

8

$157,471,059

Latham & Watkins, LLP

8

$128,821,727

Ellenoff Grossman & Schole, LLP

7

$264,337,798

DLA Piper Rudnick Gray Cary US , LLP

7

$153,354,450

Patton Boggs, LLP

7

$136,634,645

Stradling, Yocca, Carlson & Rauth, PC

7

$102,556,344

Maslon Edelman Borman & Brand, LLP

7

$100,565,091

Arnold & Porter

7

$89,363,986

Gottbetter & Partners, LLP

7

$76,689,697

Loeb & Loeb, LLP

7

$51,400,005

Skadden, Arps, Slate, Meagher & Flom, LLP

6

$2,229,351,687

Issuer Counsel rankings exclude all Equity Line of Credit transactions and all PIPE transactions conducted by Canadian domiciled issuers.  Data is as reported as of 1/23/07.

 

 

The 2006 PIPE Market Investor Counsel League Table

By Number of Transactions

 

Legal Counsel

Transaction Count

Total Amount Advised

Schulte Roth & Zabel, LLP

60

$2,683,567,499

Feldman Weinstein, LLP

45

$216,799,898

Ballard, Spahr, Andrews & Ingersoll, LLP

43

$71,955,000

Kramer Levin Naftalis & Frankel, LLP

19

$84,662,366

Grushko & Mittman, PC

17

$39,957,500

Lowenstein Sandler, PC

12

$107,066,960

Morrison & Foerster, LLP

10

$137,542,144

Malhotra & Associates, LLP

9

$66,727,502

Greenberg Traurig, LLP

8

$206,957,050

Peter J. Weisman, PC

6

$33,194,000

McDermott, Will & Emery

5

$86,000,000

Olshan Grundman Frome Rosenzweig & Wolosky

5

$39,805,000

Katten Muchin Rosenman, LLP

4

$155,000,000

Drinker Biddle & Reath, LLP

4

$75,550,000

Skadden, Arps, Slate, Meagher & Flom, LLP

4

$53,755,714

Latham & Watkins, LLP

4

$50,500,000

Krieger & Prager, LLP

4

$36,420,000

Bryan Cave , LLP

4

$29,500,196

Dorsey & Whitney, LLP

4

$12,359,000

Sichenzia Ross Friedman Ference, LLP

4

$9,904,952

Baker Botts, LLP

3

$577,250,003

Vinson & Elkins, LLP

3

$518,000,298

Fried, Frank, Harris, Shriver & Jacobson

3

$430,000,008

Pillsbury, Winthrop, Shaw & Pittman, LLP

3

$310,000,008

Dechert, LLP

3

$117,138,233

 

Investor Counsel rankings exclude all Equity Line of Credit transactions and all PIPE transactions conducted by Canadian domiciled issuers.  Data is as reported as of 1/23/07.

 

 

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.

 

Company Contact:                                                                                                                Tassanee Sukramule

Vice President

858-200-2395