Piper Jaffray Companies Announces Transition of Private Capital Business
October 12 2010 - 3:17PM
Business Wire
Piper Jaffray (NYSE: PJC) announced today that it will
transition its private capital business to become an independent
firm. The transition is expected to be effective on December 1,
2010.
This fund of funds business will transition to the key
principals of the private capital subsidiary, who will rename the
independent company North Sky Capital. The entity will be led by
Scott Barrington, an 11-year veteran of the private equity business
and a Piper Jaffray & Co. managing director.
North Sky Capital will manage each of the funds raised by Piper
Jaffray Private Capital, comprising approximately $700 million of
committed capital. In connection with the transition, the existing
funds will be rebranded with the North Sky name. Piper Jaffray will
continue its current capital commitments to the funds. The move
should be seamless to investors as they will continue to work with
the same team of professionals.
About Piper JaffrayPiper Jaffray Companies (NYSE: PJC) is
a leading, international investment bank and institutional
securities firm, serving the needs of corporations, private equity
groups, public entities, nonprofit clients and institutional
investors. Founded in 1895, Piper Jaffray provides a broad set of
products and services, including equity and debt capital markets
products; public finance services; financial advisory services;
equity and fixed-income institutional brokerage; equity research
and fixed income analytics; and asset management services. Piper
Jaffray headquarters are located in Minneapolis, Minnesota, with
offices across the U.S. and in London and Hong Kong. Piper Jaffray
& Co. is the firm's principal operating subsidiary.
(www.piperjaffray.com)
© 2010 Piper Jaffray & Co., 800 Nicollet Mall, Suite 800,
Minneapolis, Minnesota 55402-7020
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