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New York and San Diego, April 11, 2016 -- http://www.globenewswire.com/NewsRoom/AttachmentNg/764e6af4-adb4-4263-ae08-c7e72008c6ab
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PlacementTracker, the leading source for data and analysis to institutions in the PIPE market, today announced the most active investment banks, investors, and law firms in the U.S. PIPE market during the first quarter of 2016.
A total of $8.5 billion was raised in 175 transactions through the first quarter of 2016. Of this amount, 3 transactions totaling $35.2 million have been announced but not yet closed as of 04/05/2016. Deal volume has decreased 22% (226 deals in Q1 2015) but dollar volume increased 32% ($6.5B in Q1 2015). The dollar volume eclipsed Q1 2014 and is the highest first quarter total since Q1 2010.
We congratulate all of the active members of the PIPE community, many of whom are long-time clients of PlacementTracker. We are dedicated to providing them with access to the very best data and analytics available in our industry.
Most Active Participants Include:
- H.C. Wainwright & Co., LLC as the most active placement agent
- Sabby Management, LLC as the most active institutional investor
- Simpson Thacher Bartlett, LLP as the most active issuer counsel
- Morgan, Lewis & Bockius, LLP as the most active investor counsel
- Ellenoff Grossman & Schole LLP as the most active placement agent counsel
The Q1 2016 U.S. PIPE Market Investment Banking League Table
By Number of Transactions:
| Placement Agent Name | Transaction Count | Total Amount Placed | ||
| H.C. Wainwright & Co., LLC | 11 | $ | 242,736,217 | |
| Roth Capital Partners, LLC | 8 | $ | 240,565,361 | |
| Maxim Group LLC | 6 | $ | 45,175,100 | |
| Chardan Capital Markets | 6 | $ | 21,390,427 | |
| Raymond James & Associates Inc. | 4 | $ | 81,037,497 | |
| National Securities Corporation | 3 | $ | 69,793,499 | |
| Northland Securities, Inc. | 3 | $ | 26,260,000 | |
| Lake Street Capital Markets, LLC | 3 | $ | 21,587,499 | |
| Pareto Securities | 2 | $ | 192,998,720 | |
| RBC Capital Markets, Inc. | 2 | $ | 170,248,722 | |
| Cantor Fitzgerald & Company | 2 | $ | 72,450,000 | |
| FBR Capital Markets | 2 | $ | 62,000,002 | |
| Ladenburg Thalmann & Co., Inc. | 2 | $ | 49,959,998 | |
| Dundee Securities Corporation | 2 | $ | 22,584,998 | |
| Craig-Hallum Capital Group LLC | 2 | $ | 8,099,679 | |
| Aegis Capital Corporation | 2 | $ | 5,600,000 | |
| Dawson James Securities, Inc. | 2 | $ | 4,521,000 | |
| China Kington Investment Company Limited | 2 | $ | 2,830,804 | |
| Barclays Capital, Inc. | 1 | $ | 994,053,000 | |
| BMO Nesbitt Burns, Inc. | 1 | $ | 129,998,720 | |
| Canaccord Genuity Corporation (CAN) | 1 | $ | 129,998,720 | |
| CIBC World Markets | 1 | $ | 129,998,720 | |
| Citigroup Global Markets Canada Inc. | 1 | $ | 129,998,720 | |
| Cormark Securities Inc. | 1 | $ | 129,998,720 | |
| GMP Securities Limited | 1 | $ | 129,998,720 | |
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 OTC. 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 04/06/16.
The Q1 2016 U.S. PIPE Market Institutional Investor League Table
By Number of Transactions:
| Investor Name | Transaction Count | Total Amount Invested | ||
| Sabby Management, LLC | 4 | $ | 3,099,363 | |
| Liquidmetal Technology Limited | 3 | $ | 63,400,000 | |
| Cerberus Capital Management, L.P. | 2 | $ | 505,000,000 | |
| Stonepeak Infrastructure Partners | 2 | $ | 490,177,000 | |
| First Reserve Corporation | 2 | $ | 285,714,272 | |
| Kayne Anderson Capital Advisors, L.P. | 2 | $ | 147,959,168 | |
| Northwestern Mutual Life Insurance Company (The) | 2 | $ | 31,000,000 | |
| Voya Investment Management Company, LLC | 2 | $ | 21,800,000 | |
| Boyalife Group Company, Limited | 2 | $ | 15,000,000 | |
| Royal Energy Resources, Inc. (OTC:ROYE) | 2 | $ | 13,500,000 | |
| Babson Capital Management LLC | 2 | $ | 12,755,104 | |
| Genworth Mortgage Insurance Corporation | 2 | $ | 11,000,000 | |
| OneAmerica | 2 | $ | 8,500,000 | |
| Eventide Funds | 2 | $ | 7,046,532 | |
| Aspire Capital Partners, Inc. | 2 | $ | 3,497,751 | |
| Reliastar Life Insurance Co. | 2 | $ | 2,900,000 | |
| Luxor Capital Group | 2 | $ | 2,750,000 | |
| Stripes Group LLC | 2 | $ | 2,500,000 | |
| ING Funds | 2 | $ | 1,300,000 | |
| Ally Bridge Group | 2 | Not Disclosed | ||
| Enfield Holdings, L.P. | 1 | $ | 750,000,000 | |
| Silver Lake | 1 | $ | 500,000,000 | |
| CenterPoint Energy, Inc. (NYSE: CNP) | 1 | $ | 363,000,000 | |
| Atairos Management, L.P. | 1 | $ | 250,000,000 | |
| Ascension Health Alliance/TowerBrook Capital Partners | 1 | $ | 200,000,000 | |
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 OTC. 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 04/06/16.
The Q1 2016 PIPE Market Issuer Counsel League Table
By Number of Transactions:
| Legal Counsel | Transaction Count | Total Amount Advised | |||
| Simpson Thacher Bartlett, LLP | 5 | $ | 246,500,000 | ||
| Foley & Lardner | 4 | $ | 68,900,000 | ||
| Latham & Watkins, LLP | 3 | $ | 234,370,003 | ||
| DLA Piper | 3 | $ | 66,310,000 | ||
| Ropes & Gray | 3 | $ | 31,760,100 | ||
| Dorsey & Whitney, LLP | 3 | $ | 27,075,000 | ||
| Paul Hastings LLP | 3 | $ | 9,863,338 | ||
| Sichenzia Ross Friedman Ference, LLP | 3 | $ | 9,050,326 | ||
| Vinson & Elkins, LLP | 2 | $ | 1,443,032,552 | ||
| Baker Botts, LLP | 2 | $ | 1,113,000,000 | ||
| Cooley LLP | 2 | $ | 166,000,000 | ||
| Troutman Sanders, LLP | 2 | $ | 150,000,000 | ||
| Arnold & Porter | 2 | $ | 40,353,007 | ||
| Greenberg Traurig, LLP | 2 | $ | 35,541,648 | ||
| Ellenoff Grossman & Schole LLP | 2 | $ | 22,750,000 | ||
| Weintraub Tobin Chediak Coleman Grodin | 2 | $ | 8,000,000 | ||
| Thompson & Hine, LLP | 2 | $ | 3,295,000 | ||
| Squire Patton Boggs (US) LLP | 2 | $ | 2,830,804 | ||
| Baker & Hostetler, LLP | 2 | $ | 2,750,000 | ||
| Fenwick & West, LLP | 1 | $ | 500,000,000 | ||
| Cravath, Swaine & Moore | 1 | $ | 435,000,000 | ||
| Kirkland & Ellis | 1 | $ | 200,000,000 | ||
| Blake, Cassels & Graydon LLP | 1 | $ | 129,998,720 | ||
| Paul, Weiss, Rifkind, Wharton & Garrison | 1 | $ | 129,998,720 | ||
| Seward & Kissel LLP | 1 | $ | 63,000,000 | ||
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 OTC. Data is for closed and definitive agreement transactions reported as of 04/06/16.
The Q1 2016 PIPE Market Investor Counsel League Table
By Number of Transactions:
| Legal Counsel | Transaction Count | Total Amount Advised | |||||||
| Morgan, Lewis & Bockius, LLP | 5 | $ | 270,000,000 | ||||||
| Kirkland & Ellis | 3 | $ | 1,481,053,000 | ||||||
| Fleming PLLC | 3 | $ | 63,400,000 | ||||||
| Sichenzia Ross Friedman Ference, LLP | 3 | $ | 9,077,867 | ||||||
| Latham & Watkins, LLP | 2 | $ | 1,198,979,552 | ||||||
| Sidley Austin LLP | 2 | $ | 1,039,053,000 | ||||||
| Ropes & Gray | 2 | $ | 170,000,000 | ||||||
| Schiff Hardin, LLP | 2 | $ | 150,000,000 | ||||||
| Simpson Thacher Bartlett, LLP | 1 | $ | 500,000,000 | ||||||
| Akin, Gump, Strauss, Hauer & Feld, LLP | 1 | $ | 363,000,000 | ||||||
| Covington & Burling | 1 | $ | 200,000,000 | ||||||
| Epstein Becker & Green, PC | 1 | $ | 200,000,000 | ||||||
| Manatt, Phelps & Phillips, LLP | 1 | $ | 200,000,000 | ||||||
| Wachtell, Lipton, Rosen & Katz | 1 | $ | 200,000,000 | ||||||
| Skadden, Arps, Slate, Meagher & Flom, LLP | 1 | $ | 180,000,000 | ||||||
| Orrick, Herrington & Sutcliffe, LLP | 1 | $ | 76,500,000 | ||||||
| Jenner & Block LLP | 1 | $ | 44,370,000 | ||||||
| Jones Day | 1 | $ | 30,000,000 | ||||||
| Bernard & Yam LLP | 1 | $ | 20,250,000 | ||||||
| Woods, Oviatt, Gilman, LLP | 1 | $ | 19,000,000 | ||||||
| VLP Law Group, LLP | 1 | $ | 5,000,000 | ||||||
| Gibson, Dunn & Crutcher, LLP | 1 | $ | 2,985,000 | ||||||
| Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC | 1 | $ | 2,199,676 | ||||||
| Dechert, LLP | 1 | $ | 1,700,000 | ||||||
| Mailander Law Office, Inc. | 1 | $ | 1,020,000 | ||||||
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 OTC. Data is for closed and definitive agreement transactions reported as of 04/06/16.
The Q1 2016 PIPE Market Placement Agent Counsel League Table
By Number of Transactions:
| Legal Counsel | Transaction Count | Total Amount Advised | ||
| Ellenoff Grossman & Schole LLP | 10 | $ | 65,452,599 | |
| Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC | 3 | $ | 68,037,497 | |
| Stikeman Elliott LLP | 2 | $ | 142,073,720 | |
| Latham & Watkins, LLP | 2 | $ | 140,250,002 | |
| Goodwin Procter, LLP | 2 | $ | 61,460,000 | |
| Cooley LLP | 2 | $ | 47,074,998 | |
| Faegre Baker Daniels LLP | 2 | $ | 11,900,003 | |
| Schiff Hardin, LLP | 2 | $ | 4,521,000 | |
| Skadden, Arps, Slate, Meagher & Flom, LLP | 1 | $ | 129,998,720 | |
| Fried, Frank, Harris, Shriver & Jacobson | 1 | $ | 63,000,000 | |
| Greenberg Traurig, LLP | 1 | $ | 12,006,000 | |
| Dentons US LLP | 1 | $ | 10,509,998 | |
| Dentons Canada LLP | 1 | $ | 10,509,998 | |
| Pillsbury, Winthrop, Shaw & Pittman, LLP | 1 | $ | 5,000,000 | |
| Proskauer Rose, LLP | 1 | $ | 4,999,997 | |
| Burns & Levinson, LLP | 1 | $ | 3,500,000 | |
| Pryor Cashman Sherman & Flynn, LLP | 1 | $ | 3,341,650 | |
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 OTC. Data is for closed and definitive agreement transactions reported as of 04/06/16.
About PlacementTracker
PlacementTracker, part of the Business Intelligence Division of Informa PLC, is well recognized as the leading provider of research, data, and analytics covering the PIPE market and other capital raising methods. PlacementTracker's dynamically updated League Tables are available online at: http://www.placementtracker.com/leaguetables.cfm.
About Informa PLC
Informa is a leading business intelligence, academic publishing, knowledge and events business, creating unique content and connectivity for customers all over the world. It is listed on the London Stock Exchange and is a member of the FTSE 100.
For more information, please visit the Financial Intelligence website.
Company Contact:
Greg Hill
212-907-5884
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