Piper Jaffray Companies Forms Middle-Market Debt Underwriting Vehicle with $1.0 Billion of Equity Commitments
February 15 2018 - 4:30PM
Business Wire
Piper Jaffray Finance, LLC will underwrite
debt facilities for sponsored and non-sponsored middle-market
companies
Piper Jaffray Companies (NYSE: PJC), a leading investment bank
and asset management firm, is pleased to announce that it has
formed Piper Jaffray Finance, LLC (“Piper Jaffray Finance”), a
wholly owned lending subsidiary that will provide committed debt
facilities for middle-market clients based in North America.
Piper Jaffray Finance has been backed with $1.0 billion of
equity commitments, with capital commitments from a group of
investors including Piper Jaffray Companies. Piper Jaffray Finance
will underwrite debt facilities for Piper Jaffray’s investment
banking industry coverage universe, leveraging expertise across all
of the firm’s verticals including healthcare, energy, consumer,
industrials, technology, financial services, and agriculture, clean
tech & renewables.
Piper Jaffray Finance will primarily underwrite middle-market
loans between $75 million and $250 million for firms with EBITDA of
$15 million or higher. The group will focus on first lien and
stretch unitranche, but also has the ability to underwrite second
lien and mezzanine loans, for sponsored and non-sponsored
transactions.
Len Sheer, head of the Piper Jaffray & Co. capital advisory
group, will serve as President of Piper Jaffray Finance, LLC. Along
with executive team members Amrit Agrawal, James Chiarelli and Bob
Lauria, the group brings over 75 years of combined experience in
the middle market and debt capital markets.
Sheer said, “We are thrilled to launch Piper Jaffray Finance and
we look forward to underwriting middle-market debt facilities for
Piper Jaffray’s client base. This capability differentiates us from
many of our competitors and translates into greater flexibility and
speed – as well as a more streamlined deal process – through a
trusted, established partner.”
“Adding this important capability represents a big step forward
for our business and a major win for our clients,” added Scott
LaRue, global head of Piper Jaffray investment banking. “Building
on the momentum of our debt capital markets business, Piper Jaffray
Finance will reap the benefits of working with our industry banking
teams, while complementing our longstanding equity underwriting
platform.”
About Piper JaffrayPiper Jaffray Companies (NYSE: PJC) is
a leading investment bank and asset management firm. Securities
brokerage and investment banking services are offered in the U.S.
through Piper Jaffray & Co., member SIPC and FINRA; in Europe
through Piper Jaffray Ltd. and Simmons & Company International
Limited, authorized and regulated by the U.K. Financial Conduct
Authority; and in Hong Kong through Piper Jaffray Hong Kong
Limited, authorized and regulated by the Securities and Futures
Commission. Asset management products and services are offered
through five separate investment advisory affiliates―U.S.
Securities and Exchange Commission (SEC) registered Advisory
Research, Inc.; Piper Jaffray Investment Management LLC, PJC
Capital Partners LLC and Piper Jaffray & Co.; and
Guernsey-based Parallel General Partners Limited, authorized and
regulated by the Guernsey Financial Services Commission.
Piper Jaffray Finance, LLC, a wholly owned lending subsidiary of
Piper Jaffray Companies, is an affiliate of Piper Jaffray &
Co., an SEC registered broker/dealer. All securities products and
services are offered through Piper Jaffray & Co., member NYSE
and SIPC.
Follow Piper Jaffray: LinkedIn | Facebook | Twitter
© 2018 Piper Jaffray Companies, 800 Nicollet Mall, Suite 1000,
Minneapolis, Minnesota 55402-7036
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version on businesswire.com: http://www.businesswire.com/news/home/20180215006260/en/
Piper Jaffray CompaniesPamela Steensland,
612-303-8185pamela.k.steensland@pjc.com
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