a portfolio company of
and minority-owned by
has been acquired by
Financial advisor to GTCR and Convergex
Cowen Group, Inc. has agreed to acquire Convergex Group, LLC from private equity firm GTCR, Bank of New York Mellon and other shareholders
May 2017 – Cowen Group, Inc. (Cowen) has acquired Convergex Group, LLC (Convergex) from private equity firm GTCR, Bank of New York Mellon and other shareholders.
Convergex is a leading agency-focused global brokerage and trading-related services provider with business units spanning equity sales and electronic trading, commission management, global clearing and prime services.
Highly complementary transaction with approximately $200mm in Convergex revenue for 2016 and very little client overlap with existing Cowen businesses.
Freeman & Co. acted as exclusive financial advisor to Convergex on the transaction.