The relationship also includes special situations such as restructurings, reorganizations and bankruptcies. Under the terms of the agreement, Cowen will focus on origination activities for these securities and Seaport will provide distribution services.
"I am delighted to announce this partnership with Seaport," said Jeffrey Solomon, Chief Executive Officer of Cowen and Company, Cowen Group’s broker dealer business. "Seaport has built a leading independent fixed income distribution platform covering all areas of the credit spectrum. Increasingly, companies in our sectors have chosen Cowen not only to provide valuable strategic advice, but to bring debt financings to market as well. We believe that Seaport’s comprehensive distribution capabilities complement Cowen’s outstanding origination and execution abilities within our industry focus areas of Healthcare, Technology, Energy, Transportation, Consumer, Aerospace and Defense/Industrials, Metals and Mining and Chemicals. We worked with Seaport on our last several debt offerings following the expiration of our previous distribution agreement and have found them to be a value-added partner."
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Michael Meagher, Co-Founder of The Seaport Group, added "Having executed over $40 billion of average annual credit-related transactions volume in the last three years, Seaport has a deep and varied distribution base. Issuers continue to turn to independent firms like Seaport to help them widen their investor base and today’s announcement firmly places Seaport at the forefront of that change. By partnering with Cowen and their impressive client roster, we are taking Seaport Group one step further in providing our buy-side clients with the diverse product offerings that they are now seeking."
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