SAN DIEGO, Oct. 30, 2006 (PRIMEZONE) -- 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 1 most active investment bank in the PIPE market through the first three quarters of 2006 and Iroquois Capital, L.P. topped the list of most active institutional investors during the same period.
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, "After one of the most active 6-month periods in PIPE market history, the third quarter of 2006 experienced a significant slow down. During the three-month period ended September 30, 2006, we recorded 233 transactions totaling $3.49 billion in equity and equity-linked capital raised (excluding Structured Equity Lines and Canadian domiciled issuers). This represented a transaction count decrease of 30.86% over the third quarter of 2005 and a 35.60% decrease in total amount raised during the third quarter of 2005. Despite the slowdown, we still expect the U.S. PIPE market to set a new record in 2006 for total capital raised in a calendar year. As always, we congratulate all of the active agents and investors in the PIPE market for a successful first three quarters of the year, 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 (through 9/30/06):
Transaction Total
Placement Agent Name Count Amount Placed
-------------------- ----- ------------------
Rodman & Renshaw, LLC 30 $ 451,133,859
Roth Capital Partners, LLC 23 $ 335,086,709
Cowen and Company, LLC 18 $ 774,907,100
Midtown Partners & Co., LLC 14 $ 45,765,975
Banc of America Securities, LLC 12 $ 581,532,217
C.E. Unterberg, Towbin 12 $ 143,682,853
Sanders Morris Harris, Inc. 11 $ 204,573,910
Piper Jaffray & Co. 10 $ 255,063,815
Dawson James Securities, Inc. 9 $ 61,606,327
HPC Capital Management Corp. 9 $ 40,313,604
Jefferies & Company, Inc. 8 $ 431,894,750
Oppenheimer & Co., Inc. 8 $ 149,444,350
Ascendiant Securities, LLC 8 $ 35,003,277
Westminster Securities Corp, 8 $ 18,342,500
Lehman Brothers, Inc. 7 $ 455,352,298
Burnham Hill Partners 7 $ 75,534,403
Fairhills Capital 7 $ 13,000,000
Thomas Weisel Partners, LLC 6 $ 220,889,668
Merriman Curhan Ford & Co. 6 $ 127,829,000
Brean Murray, Carret & Co. 6 $ 82,861,244
Maxim Group, LLC 6 $ 80,286,250
Stonegate Securities, Inc. 6 $ 50,550,000
vFinance Investments, Inc. 6 $ 21,562,682
Bathgate Capital Partners, LLC 6 $ 17,743,448
Broadband Capital Management, LLC 5 $ 285,873,500
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 10/27/06.
The 2006 PIPE Market Institutional Investor League Table
By Number of Transactions (through 9/30/06):
Transaction Total
Investor Name Count Amount Invested
------------- ----- ---------------
Iroquois Capital, L.P. 93 $ 87,762,145
Nite Capital Management, LLC 92 $ 35,462,789
Highbridge International, LLC 53 $ 116,223,596
Enable Capital Management 50 $ 74,511,455
Downsview Capital, Inc. 50 $ 35,412,596
Cornell Capital Partners, L.P. 46 $ 224,396,490
NIR Group, LLC 42 $ 51,209,495
Bristol Capital Advisors, LLC 42 $ 21,344,581
LH Financial Services Corp. 42 $ 18,845,376
Heights Capital Management, Inc. 34 $ 88,729,062
SF Capital Partners, Inc. 32 $ 85,752,022
Whalehaven Fund, Ltd. 32 $ 18,716,070
Cantara (Switzerland) S.A. 32 $ 12,012,345
UBS Capital Americas, LLC 31 $ 75,393,767
Magnetar Capital Master Fund, Ltd. 28 $ 107,268,067
Ramius Capital Group, LLC 28 $ 80,999,844
Hudson Bay Capital Management, L.P. 26 $ 24,822,262
Rockmore Investment Master Fund, Ltd. 26 $ 20,261,949
Crestview Capital Partners, LLC 24 $ 32,772,824
Fort Mason Capital 23 $ 79,854,852
Atoll Asset Management, LLC 23 $ 12,041,113
Double U Master Fund, L.P. 22 $ 23,798,906
Paramount Capital Asset Management 21 $ 10,029,337
DKR Management Company, Inc. 19 $ 52,416,978
Sandell Asset Management Corp. 18 $ 114,939,364
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 10/27/06.
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.