Piper Jaffray Companies operates as an investment bank and asset management company. The company serves the needs of corporations, private equity groups, public entities, non-profit entities, and institutional investors in the U.S. and internationally. The company provides a 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 and fixed income research; and asset management services. It markets its investment banking and institutional securities business under a single name, Piper Jaffray. The company’s traditional asset management business is marketed under Advisory Research, Inc. Segments The company operates through two business segments, Capital Markets and Asset Management. Capital Markets This segment provides investment banking and institutional sales, trading and research services for various equity and fixed income products. This segment also includes the results from the company’s two alternative asset management funds and principal investments. Investment Banking: The company raises capital through equity financings and provides advisory services, primarily relating to mergers and acquisitions, for its corporate clients. The company operates in various focus industries, such as business services, clean technologies, consumer and retail, healthcare, industrials, and technology, media, and telecommunications, primarily focusing on middle-market clients. For its government and non-profit clients, the company underwrites debt issuances and provides financial advisory and interest rate risk management services. Its public finance investment banking capabilities focus on state and local governments, cultural and social service non-profit entities, and the healthcare, education, senior living and hospitality sectors. Equity and Fixed Income Institutional Brokerage: The company offers both equity and fixed income advisory and trade execution services for institutional investors and government and non-profit entities. Integral to its capital markets efforts, the company has equity sales and trading relationships with institutional investors in the United States and Europe that invest in its core sectors. The company’s research analysts provide investment ideas and support to its trading clients on approximately 600 companies. Its fixed income sales and trading professionals have expertise in municipal, corporate, mortgage, agency, treasury and structured product securities and cover a range of institutional investors. The company engages in trading activities for both customer facilitation and strategic trading purposes. Its strategic trading activities (proprietary trading) are dedicated solely to investing firm capital, and principally focus on investments in municipal bonds, mortgage-backed securities, and equity securities. Principal Investments: The company engages in merchant banking activities, which involve equity or debt investments in late stage private companies. Additionally, it has investments in private equity and venture capital funds and other firm investments. Alternative Asset Management Funds: As certain of the company’s strategic trading and merchant banking efforts have matured and an investment process has been developed, the company has created alternative asset management funds in municipal securities and merchant banking to invest firm capital, as well as to seek capital from outside investors. In 2013, the company completed the acquisitions of Seattle-Northwest Securities Corporation (Seattle-Northwest), a Seattle-based investment bank and broker dealer focused on public finance in the Northwest region of the U.S.; and Edgeview Partners, L.P. (Edgeview), a middle-market advisory firm specializing in mergers and acquisitions. Asset Management This segment includes the company’s traditional asset management business and seed investments in registered funds and private funds or partnerships that it manages. Its traditional asset management business offers specialized investment management solutions for institutions, private clients, and investment advisors. The company manages value-oriented domestic and international equity securities and energy infrastructure assets through open-end and closed-end funds. It also provides customized solutions to its clients. In various cases, it offers both diversified and more concentrated versions of its products, through separately managed accounts. Value Equity: The company takes a value-driven approach to managing assets in the domestic and international equity markets. Master Limited Partnerships (MLPs): The company also manages MLPs focused on the energy sector. Dispoitios In 2013, the company sold Fiduciary Asset Management, LLC, an asset management subsidiary. Regulation The company’s U.S. broker dealer subsidiary (Piper Jaffray & Co.) is registered as a securities broker dealer with the Securities and Exchange Commission and is a member of various self-regulatory organizations and securities exchanges. It also operates an entity that is licensed and regulated by the U.K. Financial Conduct Authority. Piper Jaffray & Co. is subject to the USA PATRIOT Act of 2001, which contains anti-money laundering and financial transparency laws and mandates the implementation of various regulations requiring it to implement standards for verifying client identification at account opening, monitoring client transactions and reporting suspicious activity. The company is also subject to the U.S. Foreign Corrupt Practices Act, as well as other anti-bribery laws in the jurisdictions in which it operates. History Piper Jaffray Companies was founded in 1895.
piper jaffray cos (PJR:Frankfurt)
800 Nicollet Mall
Minneapolis, MN 55402
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