MINNEAPOLIS
--(BUSINESS WIRE)--Sep. 27, 2019--
Piper Jaffray Companies
(NYSE: PJC) a leading investment bank and institutional securities firm, announced today it has completed its sale of the remaining business of
Advisory Research, Inc.
, resulting in the firm exiting its traditional asset management business. A partner group led by
Matthew Swaim
, managing director and executive committee chairman at
Advisory Research
, purchased the remaining
Advisory Research
business following the sale of the midstream energy asset management (MLP) business to
Tortoise Capital Advisors
on
September 20, 2019
.
Advisory Research
will continue to manage existing products and assets to help clients capitalize on investment opportunities in less efficient markets through a combination of actively managed strategies, differentiated processes, efficient operations, and hands-on client service “We are confident that Matt and his partners will continue to provide excellent client services and investment results to their client base,” said
Deb Schoneman
, president of
Piper Jaffray
.
“We are grateful for Piper Jaffray’s support through this transition and are ready to move forward now that the sale has officially closed,” said Swaim. “We continue to harness highly active portfolios and highly specialized professionals to align ourselves with client objectives in this 100% employee-owned environment.”
Piper Jaffray Companies
(NYSE: PJC) is a leading investment bank and institutional securities firm driven to help clients Realize the Power of Partnership®. 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.
, 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.
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© 2019
Piper Jaffray Companies
. 800 Nicollet Mall, Suite 1000,
Minneapolis, Minnesota
55402-7036
View source version on businesswire.com:
https://www.businesswire.com/news/home/20190927005441/en/
Source:
Piper Jaffray Companies
Pamela Steensland
Tel: 612 303-8185
pamela.k.steensland@pjc.com
