updated 1/7/2011 8:17:15 AM ET 2011-01-07T13:17:15

SAN DIEGO, Jan. 7, 2011 (GLOBE NEWSWIRE) -- 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 Downsview Capital, Inc., ranked as the number one most active institutional investor in the U.S. PIPE market during 2010.

Sagient Research also announced that Sichenzia Ross Friedman Ference, LLP ranked as the number one most active issuer counsel, Schulte Roth & Zabel, LLP ranked as the number one most active investor counsel, and Weinstein Smith, LLP ranked as the number one most active placement agent counsel in the U.S. PIPE market during 2010.

PlacementTracker, a flagship product of Sagient Research Systems, is well recognized as the leading provider of research, data, and analytics covering the PIPE market.

During 2010, a total of $40.2 billion was raised in 1,203 transactions (of this amount, 61 transactions totaling $969 million have been announced but not yet closed as of 1/5/10). Commenting on the activity in the PIPE market in 2010, Tassanee Sukramule, Vice President of PlacementTracker said, "This year, we saw a significant decrease in the aggregate dollar amount of sub-$50m market cap companies completing deals. In 2009, we saw 583 deals for $6.5 billion. This year, we saw 509 deals for only $3.1 billion. While the overall market dollar amount of the PIPE market remained at the $39 billion level in 2009 and 2010, the decrease in the microcap space was negated by the large uptick in the $100-$300 million market cap issuers. These issuers increased their offerings from $4.64 billion in 2009 to $6.64 billion in 2010. We congratulate all of the active members of the PIPE community for successfully remaining steadfast during the economic uncertainty of 2010. Many of these firms are long-time customers of PlacementTracker, and we are dedicated to furnishing them with the most relevant data for our industry."

PlacementTracker's dynamically updating League Tables are available online at: http://www.sagientresearch.com/pt/leaguetables.cfm .



 

 

The 2010 U.S. PIPE Market Investment Banking League Table

By Number of Transactions (through 12/31/10):
     
Placement Agent Name Transaction Count Total Amount Placed
Rodman & Renshaw, LLC 77 $1,220,781,745
Roth Capital Partners, LLC 49 $1,103,712,836
Lazard 26 $994,968,084
Chardan Capital Markets 19 $178,277,810
Jefferies & Company, Inc. 16 $2,200,442,744
Canaccord Genuity Inc. 15 $522,252,665
RBC Capital Markets, Inc. 14 $811,108,693
Sandler O'Neill & Partners, L.P. 13 $1,340,513,499
Keefe, Bruyette & Woods, Inc. 13 $573,822,622
Merriman Curhan Ford & Company 13 $455,347,967
Needham & Company, LLC 13 $405,097,609
Maxim Group LLC 12 $128,223,771
Wedbush PacGrow Life Sciences 11 $496,237,230
Stifel Nicolaus Weisel 11 $430,382,541
JMP Securities LLC 11 $323,150,202
Global Hunter Securities, LLC 11 $249,009,268
Bank of America Merrill Lynch 10 $1,796,178,445
Ladenburg Thalmann & Co., Inc. 10 $97,064,200
Morgan Stanley 9 $2,244,790,000
J.P. Morgan Chase & Co. 9 $1,320,074,131
Oppenheimer & Co. Inc. 9 $320,513,001
Robert W. Baird & Co. 9 $319,795,496
William Blair & Company, LLC 9 $243,506,320
Haywood Securities, Inc. 9 $76,928,554
Brean Murray, Carret & Co. 8 $239,877,830
     
Investment Banking rankings exclude all 144-A Offerings, Equity Lines of Credit, 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 transactions reported as of 01/06/11.

 

The 2010 U.S. PIPE Market Investment Banking League Table

By Total Amount Placed (through 12/31/10):
     
Placement Agent Name Transaction Count Total Amount Placed
Morgan Stanley 9 $2,244,790,000
Jefferies & Company, Inc. 16 $2,200,442,744
China International Capital Corp. Hong Kong 1 $1,838,800,000
Goldman Sachs (Asia) LLC 1 $1,838,800,000
Nomura International (Hong Kong) Limited 1 $1,838,800,000
Bank of America Merrill Lynch 10 $1,796,178,445
Citigroup Global Markets Limited 2 $1,578,176,750
Deutsche Bank AG, London Branch 2 $1,578,176,750
UBS Limited 2 $1,578,176,750
Barclays Capital, Inc. 5 $1,393,707,460
Sandler O'Neill & Partners, L.P. 13 $1,340,513,499
J.P. Morgan Chase & Co. 9 $1,320,074,131
Rodman & Renshaw, LLC 77 $1,220,781,745
Roth Capital Partners, LLC 49 $1,103,712,836
Lazard 26 $994,968,084
RBC Capital Markets, Inc. 14 $811,108,693
FBR Capital Markets 2 $730,000,000
Wells Fargo Securities, LLC 6 $690,042,500
Keefe, Bruyette & Woods, Inc. 13 $573,822,622
Canaccord Genuity Inc. 15 $522,252,665
Wedbush PacGrow Life Sciences 11 $496,237,230
Merriman Curhan Ford & Company 13 $455,347,967
Credit Suisse Securities (USA) LLC 4 $443,057,200
Stifel Nicolaus Weisel 11 $430,382,541
Citigroup Global Markets, Inc. 5 $424,224,676
     
Investment Banking rankings exclude all 144-A Offerings, Equity Lines of Credit, 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 transactions reported as of 01/05/11.

 
The 2010 U.S. PIPE Market Institutional Investor League Table

By Number of Transactions (through 12/31/10):
     
Investor Name Transaction Count Total Amount Invested
Downsview Capital, Inc. 43 $40,522,094
Iroquois Capital L.P. 37 $49,648,461
Hudson Bay Capital Management L.P. 36 $64,060,434
Heights Capital Management, Inc. 31 $36,819,605
AQR Capital Management, LLC 31 $26,108,935
Citadel Advisors, LLC 28 $15,840,414
LH Financial Services Corporation 27 $15,563,089
Heller Capital Partners 21 $3,170,105
D.E. Shaw & Co., L.P. 21 Not Disclosed
Fidelity Management & Research 20 $137,231,495
Wellington Management Company LLP 20 $105,754,648
Deerfield Management 19 $193,530,005
Millennium Management, LLC 19 $13,243,230
UBS O'Connor LLC 19 $2,375,000
Highbridge International, LLC 19 $950,003
AWM Investment Management (MGP) 18 $22,000,000
DAFNA Capital Management, LLC 18 $2,937,005
Empery Asset Management LP 17 $40,663,794
Ramius LLC 17 $14,535,571
Jayhawk Capital Management, L.L.C. 16 $19,506,381
Global Capital Advisors, LLC 16 $6,996,251
Chestnut Ridge Partners, L.P. 15 $5,560,970
Midsummer Capital, LLC 13 $7,278,993
Straus Capital Management LLC 13 $4,788,136
Kingsbrook Partners, LP 12 $7,598,581
     
Investor rankings exclude all 144-A Offerings, Equity Lines of Credit, 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 transactions reported as of 01/06/11.

 

The 2010 PIPE Market Issuer Counsel League Table

By Number of Transactions (through 12/31/10):
     
Legal Counsel Transaction Count Total Amount Advised
 Sichenzia Ross Friedman Ference, LLP 27 $142,557,376
 Dorsey & Whitney, LLP 21 $634,882,760
 Greenberg Traurig, LLP 15 $289,521,505
 Mintz, Levin, Cohn, Ferris, Glovsky & Popeo 14 $118,474,729
 Loeb & Loeb, LLP 13 $324,428,289
 Pillsbury, Winthrop, Shaw & Pittman, LLP 13 $145,853,781
 K&L Gates LLP 13 $88,478,401
 Anslow & Jaclin, LLP 12 $121,569,229
 Latham & Watkins, LLP 11 $648,606,455
 Cooley LLP 11 $343,666,004
 Goodwin Procter, LLP 10 $259,281,852
 DLA Piper 10 $139,900,132
 Cooley Godward Kronish LLP 9 $273,457,010
 Wilmer Cutler Pickering Hale & Dorr, LLP 9 $247,655,044
 Wilson Sonsini Goodrich & Rosati 8 $319,155,368
 Morgan, Lewis & Bockius, LLP 8 $260,996,458
 O'Melveny & Myers, LLP 8 $190,359,596
 Ellenoff Grossman & Schole LLP 8 $62,988,022
 Vinson & Elkins, LLP 7 $1,118,732,976
 Troutman Sanders, LLP 7 $120,515,419
 Paul, Hastings, Janofsky & Walker, LLP 7 $79,759,802
 Perkins Coie, LLP 6 $164,383,739
 Bingham McCutchen, LLP 6 $139,997,491
 Morrison & Foerster, LLP 6 $136,433,500
 Holland & Hart, LLP 6 $99,922,773
     
Legal counsel rankings exclude all 144-A Offerings, Equity Lines of Credit, 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 transactions reported as of 01/06/11.

 

The 2010 PIPE Market Investor Counsel League Table

By Number of Transactions (through 12/31/10):
     
Legal Counsel Transaction Count Total Amount Advised
Schulte Roth & Zabel, LLP 85 $4,302,332,954
Greenberg Traurig, LLP 55 $7,607,579,647
Seward & Kissel LLP 8 $6,563,419,708
Lowenstein Sandler, PC 8 $121,571,550
Grushko & Mittman, PC 8 $16,674,998
Skadden, Arps, Slate, Meagher & Flom, LLP 7 $757,200,000
Weinstein Smith LLP 7 $17,807,260
Baker Botts, LLP 5 $792,668,455
Katten Muchin Rosenman, LLP 5 $229,170,001
Ropes & Gray 5 $130,200,000
Peter J. Weisman, PC 5 $56,057,103
Anslow & Jaclin, LLP 5 $25,364,320
Wachtell, Lipton, Rosen & Katz 4 $928,300,007
Bingham McCutchen, LLP 4 $114,000,000
Quarles & Brady, LLP 4 $13,000,000
Willkie, Farr & Gallagher 3 $6,379,999,996
Cleary, Gottlieb, Steen & Hamilton 3 $1,865,906,729
Weil, Gotshal & Manges, LLP 3 $930,005,620
Simpson Thacher Bartlett, LLP 3 $309,267,850
Morrison & Foerster, LLP 3 $169,800,000
Orrick, Herrington & Sutcliffe, LLP 3 $103,439,000
Latham & Watkins, LLP 3 $50,000,000
Cooley Godward Kronish LLP 3 $38,134,000
White White & Van Etten, LLP 3 $10,093,750
Gardere Wynne Sewell, LLP 2 $220,000,003
     
Legal counsel rankings exclude all 144-A Offerings, Equity Lines of Credit, 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 transactions reported as of 01/06/11.

 

 

The 2010 PIPE Market Placement Agent Counsel League Table

By Number of Transactions (through 12/31/10):
     
Legal Counsel Transaction Count Total Amount Advised
Weinstein Smith LLP 69 $697,412,144
Lowenstein Sandler, PC 29 $385,808,711
Goodwin Procter, LLP 20 $422,525,918
Proskauer Rose, LLP 19 $510,024,594
Latham & Watkins, LLP 6 $313,123,000
Blake, Cassels & Graydon LLP 6 $50,616,642
Morrison & Foerster, LLP 5 $170,635,974
Pillsbury, Winthrop, Shaw & Pittman, LLP 5 $87,100,027
Skadden, Arps, Slate, Meagher & Flom, LLP 4 $554,762,000
Dewey & LeBoeuf LLP 4 $176,974,503
Kilpatrick Stockton LLP 4 $42,147,500
K&L Gates LLP 4 $35,798,178
Greenberg Traurig, LLP 4 $28,557,306
Davis Polk & Wardwell LLP 3 $1,660,456,750
Choate, Hall & Stewart, LLP 3 $128,458,269
Andrews Kurth, LLP 3 $106,967,040
Bracewell & Giuliani LLP 3 $102,619,993
Sichenzia Ross Friedman Ference, LLP 3 $69,680,729
Leser, Hunter, Taubman & Taubman 3 $52,956,596
Mintz, Levin, Cohn, Ferris, Glovsky & Popeo 3 $22,975,000
Littman Krooks, LLP 3 $5,992,500
Fried, Frank, Harris, Shriver & Jacobson 2 $354,027,499
Baker Botts, LLP 2 $118,277,500
DLA Piper 2 $79,249,994
Cooley LLP 2 $40,500,000
     
Legal counsel rankings exclude all 144-A Offerings, Equity Lines of Credit, 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 transactions reported as of 01/06/11.

 

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, and 2009 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 .

The Sagient Research Systems logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7294

CONTACT: Sagient Research Systems
         Tassanee Sukramule
         858-200-2395

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