PlacementTracker Publishes Q3 2016 Private Placement Market League Tables
NEW YORK, Oct. 17, 2016 /PRNewswire/ -- PlacementTracker, the leading source for data and analysis to institutions in the PIPE and Private Placement markets, today announced the most active investment banks, investors, and law firms in the U.S. PIPE market through the third quarter of 2016.
A total of $35.2 billion was raised in 673 transactions through the 3rd quarter of 2016. Of this amount, 8 transactions totaling $447 million have been announced but not yet closed as of 10/11/2016. Deal volume is flat year-over-year but dollar volume increased 23% ($28.1B for Q3 2015).
We congratulate all of the active members of the private placement community, many of whom are long-time clients of PlacementTracker. We are dedicated to providing them with access to the very best data and analytics available in our industry.
Most Active Participants Include:
- H.C. Wainwright & Co., LLC as the most active placement agent
- Sabby Management, LLC as the most active institutional investor
- Sichenzia Ross Friedman Ference, LLP as the most active issuer counsel
- Schulte Roth & Zabel, LLP as the most active investor counsel
- Ellenoff Grossman & Schole LLP as the most active placement agent counsel
The Q3 2016 U.S. PIPE Market
Investment Banking League Table by Number of Transactions:
| Placement Agent Name |
Transaction Count |
Total Amount Placed |
| H.C. Wainwright & Co., LLC |
50 |
$689,700,716 |
| Roth Capital Partners, LLC |
38 |
$743,693,674 |
| Maxim Group LLC |
24 |
$171,233,134 |
| Chardan Capital Markets |
19 |
$125,015,671 |
| Cowen and Company, LLC |
18 |
$547,823,721 |
| Piper Jaffray & Co. |
13 |
$506,057,996 |
| Jefferies & Company, Inc. |
12 |
$578,237,489 |
| Ladenburg Thalmann & Co., Inc. |
12 |
$326,247,072 |
| Oppenheimer & Co. Inc. |
12 |
$225,598,820 |
| Aegis Capital Corporation |
12 |
$65,094,904 |
| Raymond James & Associates Inc. |
11 |
$295,552,267 |
| Craig-Hallum Capital Group LLC |
11 |
$234,551,606 |
| Canaccord Genuity Inc. (US) |
10 |
$406,820,292 |
| National Securities Corporation |
9 |
$120,759,535 |
| Leerink Swann, LLC |
8 |
$382,731,633 |
| Stifel Nicolaus Weisel |
8 |
$303,655,000 |
| Needham & Company, LLC |
7 |
$350,059,276 |
| Sandler O'Neill & Partners, L.P. |
7 |
$181,252,499 |
| Northland Securities, Inc. |
7 |
$84,579,496 |
| Laidlaw & Company (UK) Ltd. |
7 |
$73,555,432 |
| Katalyst Securities LLC |
7 |
$50,243,627 |
| RBC Capital Markets, Inc. |
6 |
$796,954,126 |
| Guggenheim Securities, LLC |
6 |
$251,110,998 |
| Cantor Fitzgerald & Company |
6 |
$233,259,981 |
| B. Riley & Co. |
6 |
$102,761,390 |
Investment Banking rankings exclude all 144-A Offerings, Equity Lines of Credit, At the Market Transactions, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the OTC. 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 and definitive agreement transactions reported as of 10/11/2016.
The Q3 2016 U.S. PIPE Market
Institutional Investor League Table by Number of Transactions:
|
Investor Name |
Transaction Count |
Total Amount Invested |
| Sabby Management, LLC |
45 |
$85,476,415 |
| Bank of New York |
20 |
Not Disclosed |
| Millennium Management, LLC |
18 |
Not Disclosed |
| Teachers Insurance and Annuity Association |
16 |
$50,000,000 |
| Perceptive Advisors, LLC |
16 |
$14,841,963 |
| Citadel Advisors, LLC |
13 |
Not Disclosed |
| DAFNA Capital Management, LLC |
11 |
$11,700,013 |
| Hudson Bay Capital Management L.P. |
10 |
$115,191,188 |
| OrbiMed Advisors, LLC |
10 |
$26,030,548 |
| Heights Capital Management, Inc. |
10 |
$15,976,727 |
| Empery Asset Management LP |
10 |
$13,639,283 |
| IntraCoastal Capital, LLC |
10 |
$5,793,481 |
| AWM Investment Management (MGP Advisors, LLC) |
10 |
$2,257,500 |
| Franklin Templeton Group |
9 |
$15,521,875 |
| Anson Capital, LP |
9 |
$11,361,525 |
| Deerfield Management |
8 |
$13,333,337 |
| Cormorant Asset Management, LLC |
8 |
$9,625,002 |
| Fidelity Management & Research Corporation |
8 |
Not Disclosed |
| New Enterprise Associates |
7 |
$101,092,824 |
| BVF, Inc. |
7 |
$68,800,445 |
| UBS O'Connor LLC |
7 |
$23,625,000 |
| Broadfin Capital, LLC |
7 |
$5,059,890 |
| Alyeska Investment Group, L.P. |
7 |
Not Disclosed |
| Baker Brothers Advisors, LLC |
7 |
Not Disclosed |
| Voya Investment Management Company, LLC |
6 |
$21,800,000 |
Investor rankings exclude all 144-A Offerings, Equity Lines of Credit, At the Market Transactions, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the OTC. Investors classified as Corporate Investors and Insurance Companies have been excluded from this ranking. Data is for closed and definitive agreement transactions reported as of 10/11/2016.
The Q3 2016 U.S. PIPE Market
Issuer Counsel League Table by Number of Transactions:
| Legal Counsel |
Transaction Count |
Total Amount Advised |
|
| Sichenzia Ross Friedman Ference, LLP |
19 |
$161,880,771 |
|
| Cooley LLP |
18 |
$525,550,413 |
|
| Latham & Watkins, LLP |
13 |
$592,377,723 |
|
| Paul Hastings LLP |
9 |
$200,549,521 |
|
| Wilson Sonsini Goodrich & Rosati |
9 |
$139,822,739 |
|
| Lowenstein Sandler LLP |
9 |
$85,331,164 |
|
| Hogan Lovells |
9 |
$56,947,747 |
|
| Vinson & Elkins, LLP |
8 |
$2,841,708,043 |
|
| Fenwick & West, LLP |
8 |
$1,978,175,221 |
|
| Goodwin Procter, LLP |
8 |
$819,892,935 |
|
| K&L Gates LLP |
8 |
$220,337,501 |
|
| Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC |
8 |
$126,950,444 |
|
| Foley & Lardner |
7 |
$158,900,000 |
|
| Ellenoff Grossman & Schole LLP |
7 |
$37,567,240 |
|
| Skadden, Arps, Slate, Meagher & Flom, LLP |
6 |
$482,458,570 |
|
| Simpson Thacher Bartlett, LLP |
6 |
$456,500,000 |
|
| Dorsey & Whitney, LLP |
6 |
$177,535,000 |
|
| Perkins Coie, LLP |
5 |
$358,224,992 |
|
| Seward & Kissel LLP |
5 |
$149,309,740 |
|
| Squire Patton Boggs (US) LLP |
5 |
$108,621,805 |
|
| DLA Piper |
5 |
$78,859,997 |
|
| Faegre Baker Daniels LLP |
5 |
$78,451,000 |
|
| Greenberg Traurig, LLP |
5 |
$67,574,398 |
|
| Morrison & Foerster, LLP |
5 |
$37,052,048 |
|
| TroyGould PC |
4 |
$141,770,007 |
|
Legal counsel rankings exclude all 144-A Offerings, Equity Lines of Credit, At the Market Transactions, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the OTC. Data is for closed and definitive agreement transactions reported as of 10/11/2016.
The Q3 2016 U.S. PIPE Market
Investor Counsel League Table by Number of Transactions:
| Legal Counsel |
Transaction Count |
Total Amount |
|||||
| Schulte Roth & Zabel, LLP |
19 |
$4,897,110,812 |
|||||
| Kelley Drye & Warren LLP |
8 |
$105,103,650 |
|||||
| Morgan, Lewis & Bockius, LLP |
7 |
$340,999,000 |
|||||
| Greenberg Traurig, LLP |
6 |
$716,723,037 |
|||||
| Kirkland & Ellis |
5 |
$2,582,053,000 |
|||||
| Ropes & Gray |
5 |
$1,446,949,997 |
|||||
| Latham & Watkins, LLP |
5 |
$1,321,479,552 |
|||||
| Ellenoff Grossman & Schole LLP |
5 |
$40,168,750 |
|||||
| Sichenzia Ross Friedman Ference, LLP |
4 |
$10,652,868 |
|||||
| Sidley Austin LLP |
3 |
$2,040,053,000 |
|||||
| Skadden, Arps, Slate, Meagher & Flom, LLP |
3 |
$937,750,000 |
|||||
| Schiff Hardin, LLP |
3 |
$230,000,000 |
|||||
| Chapman & Cutler, LLP |
3 |
$145,000,000 |
|||||
| Fleming PLLC |
3 |
$63,400,000 |
|||||
| Morrison & Foerster, LLP |
3 |
$6,247,752 |
|||||
| Simpson Thacher Bartlett, LLP |
2 |
$1,750,000,000 |
|||||
| White & Case, LLP |
2 |
$642,327,934 |
|||||
| Akin, Gump, Strauss, Hauer & Feld, LLP |
2 |
$515,700,000 |
|||||
| Vinson & Elkins, LLP |
2 |
$390,017,670 |
|||||
| Watson, Farley & Williams LLP |
2 |
$200,000,000 |
|||||
| Sullivan & Cromwell |
2 |
$65,000,000 |
|||||
| Locke Lord LLP |
2 |
$51,380,000 |
|||||
| Bernard & Yam LLP |
2 |
$23,050,002 |
|||||
| Gibson, Dunn & Crutcher, LLP |
2 |
$19,985,000 |
|||||
| Robinson Brog Leinwand Greene Genovese & Gluck |
2 |
$8,750,001 |
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Legal counsel rankings exclude all 144-A Offerings, Equity Lines of Credit, At the Market Transactions, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the OTC. Data is for closed and definitive agreement transactions reported as of 10/11/2016.
The Q3 2016 U.S. PIPE Market
Placement Agent Counsel League Table by Number of Transactions:
| Legal Counsel |
Transaction Count |
Total Amount Advised |
| Ellenoff Grossman & Schole LLP |
51 |
$428,511,580 |
| Goodwin Procter, LLP |
18 |
$437,809,505 |
| Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC |
10 |
$149,674,230 |
| Latham & Watkins, LLP |
9 |
$428,380,002 |
| Cooley LLP |
7 |
$278,049,974 |
| Covington & Burling |
6 |
$406,932,501 |
| Proskauer Rose, LLP |
5 |
$78,265,534 |
| Lowenstein Sandler LLP |
5 |
$28,718,034 |
| Sichenzia Ross Friedman Ference, LLP |
5 |
$14,443,751 |
| Pryor Cashman |
4 |
$9,842,840 |
| Schiff Hardin, LLP |
3 |
$9,721,001 |
| Skadden, Arps, Slate, Meagher & Flom, LLP |
2 |
$244,998,720 |
| Stikeman Elliott LLP |
2 |
$142,073,720 |
| Fried, Frank, Harris, Shriver & Jacobson |
2 |
$133,150,000 |
| Davis Polk & Wardwell LLP |
2 |
$123,250,500 |
| Morrison & Foerster, LLP |
2 |
$81,213,250 |
| Loeb & Loeb, LLP |
2 |
$53,068,750 |
| DLA Piper |
2 |
$51,778,740 |
| Dechert, LLP |
2 |
$43,024,995 |
| Greenberg Traurig, LLP |
2 |
$22,039,698 |
| Pillsbury, Winthrop, Shaw & Pittman, LLP |
2 |
$21,677,444 |
| Faegre Baker Daniels LLP |
2 |
$11,900,003 |
| Linklaters |
1 |
$450,000,000 |
| King, Holmes, Paterno & Berliner |
1 |
$62,500,000 |
| Baker & Hostetler, LLP |
1 |
$47,500,000 |
Legal counsel rankings exclude all 144-A Offerings, Equity Lines of Credit, At the Market Transactions, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the OTC. Data is for closed and definitive agreement transactions reported as of 10/11/2016.
The Q3 2016 U.S. ATM Market
Sales Agent by Commitment Amount:
| Sales Agent |
Transaction Count |
Commitment Amount |
| Bank of America Merrill Lynch |
36 |
$14,826,252,072 |
| Wells Fargo Securities, LLC |
32 |
$13,911,669,849 |
| J.P. Morgan Chase & Co. |
25 |
$13,289,927,072 |
| Barclays Capital, Inc. |
24 |
$11,783,182,942 |
| RBC Capital Markets, Inc. |
24 |
$11,439,204,849 |
| Morgan Stanley |
21 |
$10,962,972,942 |
| Citigroup Global Markets, Inc. |
24 |
$10,698,817,942 |
| Mitsubishi UFJ Securities (USA), Inc. |
14 |
$10,404,684,849 |
| Jefferies & Company, Inc. |
20 |
$8,864,632,942 |
| Deutsche Bank Securities, Inc. |
13 |
$7,629,982,942 |
| Mizuho Securities Co., Limited |
10 |
$7,531,262,942 |
| SunTrust Robinson Humphrey, Inc. |
14 |
$7,275,727,942 |
| Credit Suisse Securities (USA) LLC |
11 |
$6,234,559,130 |
| BNP Paribas Securities Corporation |
7 |
$5,817,151,907 |
| Goldman, Sachs & Co. |
12 |
$5,349,260,000 |
| Raymond James & Associates Inc. |
14 |
$5,049,682,942 |
| TD Securities (USA) Inc. |
3 |
$4,890,000,000 |
| BMO Capital Markets Corp. |
11 |
$4,886,377,942 |
| SMBC Nikko Securities America, Inc. |
5 |
$4,790,000,000 |
| Scotia Capital (USA) Inc. |
7 |
$4,163,236,907 |
| UBS Securities LLC |
6 |
$4,110,912,942 |
| Capital One Securities |
10 |
$4,058,370,000 |
| USCA Securities LLC |
4 |
$4,031,262,942 |
| Robert W. Baird & Co. |
11 |
$3,140,962,942 |
| UBS Limited |
4 |
$2,971,270,000 |
Sales Agent rankings includes At the Market. Data is for closed and definitive agreement transactions reported as of 10/11/2016.
The Q3 2016 U.S. ATM Market
Sales Agent by Number of Transactions:
| Sales Agent |
Transaction Count |
Commitment Amount |
| Bank of America Merrill Lynch |
36 |
$14,826,252,072 |
| Wells Fargo Securities, LLC |
32 |
$13,911,669,849 |
| Cantor Fitzgerald & Company |
30 |
$2,814,766,448 |
| J.P. Morgan Chase & Co. |
25 |
$13,289,927,072 |
| Barclays Capital, Inc. |
24 |
$11,783,182,942 |
| RBC Capital Markets, Inc. |
24 |
$11,439,204,849 |
| Citigroup Global Markets, Inc. |
24 |
$10,698,817,942 |
| FBR Capital Markets |
23 |
$1,035,489,592 |
| Morgan Stanley |
21 |
$10,962,972,942 |
| Jefferies & Company, Inc. |
20 |
$8,864,632,942 |
| Cowen and Company, LLC |
20 |
$1,166,500,000 |
| Mitsubishi UFJ Securities (USA), Inc. |
14 |
$10,404,684,849 |
| SunTrust Robinson Humphrey, Inc. |
14 |
$7,275,727,942 |
| Raymond James & Associates Inc. |
14 |
$5,049,682,942 |
| Deutsche Bank Securities, Inc. |
13 |
$7,629,982,942 |
| Goldman, Sachs & Co. |
12 |
$5,349,260,000 |
| MLV & Co. LLC |
12 |
$638,625,000 |
| Credit Suisse Securities (USA) LLC |
11 |
$6,234,559,130 |
| BMO Capital Markets Corp. |
11 |
$4,886,377,942 |
| Robert W. Baird & Co. |
11 |
$3,140,962,942 |
| KeyBanc Capital Markets |
11 |
$2,593,720,000 |
| Mizuho Securities Co., Limited |
10 |
$7,531,262,942 |
| Capital One Securities |
10 |
$4,058,370,000 |
| BB&T Capital Markets |
9 |
$2,950,447,942 |
| BNP Paribas Securities Corporation |
7 |
$5,817,151,907 |
Sales Agent rankings includes At the Market. Data is for closed and definitive agreement transactions reported as of 10/11/2016.
About PlacementTracker
PlacementTracker, part of the Business Intelligence Division of Informa PLC, is well recognized as the leading provider of research, data, and analytics covering the PIPE and private placement markets. PlacementTracker's dynamically updated League Tables are available online at: http://www.placementtracker.com/leaguetables.cfm.
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