Piper Jaffray Finance, LLC
will underwrite debt facilities for sponsored and non-sponsored middle-market companies
NEW YORK
--(BUSINESS WIRE)--Feb. 15, 2018--
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 Jaffray
Piper 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
.
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Piper Jaffray
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© 2018
Piper Jaffray Companies
, 800 Nicollet Mall, Suite 1000,
Minneapolis, Minnesota
55402-7036
View source version on businesswire.com:
http://www.businesswire.com/news/home/20180215006260/en/
Source:
Piper Jaffray Companies
Piper Jaffray Companies
Pamela Steensland, 612-303-8185
pamela.k.steensland@pjc.com
