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JonesTrading Capital Markets Group Completes Over $500 Million in Securities Transactions for Private Equity Firms

2008-07-15 06:54:00

                Signals Continued Growth, Validity of Model

    LOS ANGELES, July 15 /EMWNews/ -- In October 2007, JonesTrading

Institutional Services LLC launched a Capital Markets Group, which focuses

on providing agency trading services to private equity and venture capital

firms. Since that time, the Group has completed over $500 million worth of

block trades on behalf of leading private equity and venture capital firms.

The JonesTrading Capital Markets Group now includes four of the largest

global private equity firms in its rapidly growing client base.

    The Capital Markets Group enables leading private equity and venture

capital firms to exit large positions in their publicly-traded portfolio

companies and also helps firms build new public positions or add to

existing positions.

    As an "agency" broker, JonesTrading only executes for its customers and

not for its own principal account. The JonesTrading Capital Markets Group

connects its private equity and venture capital clients directly to over

2,000 top-tier institutional investors via its network of more than 80

sales traders.

    Said Kevin Callahan, Head of Investment Banking at JonesTrading: "As

the stock market declined in the first quarter, we saw a degree of buying

interest on the part of private equity and venture capital firms in

companies they had previously taken public and had largely exited. Private

equity and venture capital sponsors know these companies, and when they

witnessed price declines, some of them sought to rebuild positions, and

they were able to do so quietly through JonesTrading."

    Said Schlomo Cohen, Head of Capital Markets at JonesTrading: "Private

equity and venture capital firms are realizing there is a robust agency

market for exiting large block positions. In many cases, the firm can exit

a large position with little to no discount to the prevailing market price.

As full-service brokers become less willing to deploy risk capital, we

believe that the agency model will continue to flourish."

    About Jones Trading

    JonesTrading Institutional Services LLC is one of the oldest and

largest pure execution-only equity trading firms in the U.S., and a

worldwide leader in U.S. equity block trading. Since 1975, the sole focus

of JonesTrading has been creating liquidity for institutions on an agency

basis. The ability to provide a secure, trusted platform connecting a

diverse group of market players enables the firm to unlock liquidity,

providing best-quality execution for larger and more complex trades. In

2007, the company received a $50M investment from Friedman Fleischer &

Lowe, a San Francisco-based private equity firm.

    Member FINRA & SIPC

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