HomeInvestmentCowen acquires M&A consulting agency Portico to strengthen funding banking

Cowen acquires M&A consulting agency Portico to strengthen funding banking


November twenty third. (Reuters) – Cowen Inc (COWN.O) stated Tuesday that it’ll purchase Portico Capital Advisors, a consulting agency specializing in transactions within the software program business, because the monetary providers firm seeks to strengthen its funding banking enterprise.

Cowen didn’t disclose the scale of the deal, however stated it would embrace 75% in money and 25% in fairness, including that it expects its M&A advisory income to develop by practically 20% in fiscal 2022. end result.

In accordance with the assertion, the deal may even enable Portico to supply purchasers with alternatives for Cowen’s capital markets, consulting and analysis.

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Cowen fell 0.3% to $ 38.20 in early buying and selling.

New York-based Cowen’s resolution comes as excessive liquidity and near-zero rates of interest boosted commerce exercise, serving to Wall Avenue’s main banks JPMorgan Chase & Co (JPM.N) and Goldman Sachs (GS.N) hit a file excessive quarter.

The deal is predicted to shut within the fourth quarter, with Perkins Advisors and M. Klein & Firm advising Cowen and Portico, respectively.

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Reporting by Mehnaz Yasmin and Niket Nishant in Bangalore; Edited by Ramakrishnan M.

Our Requirements: Thomson Reuters Belief Ideas.



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