Trending on peHUB this week: Sequoia Capital, VC “scouts,” Oaktree Capital, Water Street Healthcare, Apollo, Piper Jaffray, Nick Golding, NY City pensions, and the lean startup.

Golding launches his own firm to advise lower middle market companies in fintech.

Piper Jaffray said late Tuesday that it planned to spin off its private capital business, which will be renamed North Sky Capital, on Dec.1. The fund-of-funds business will transition to key principals, the statement said. Scott Barrington, a Piper Jaffray MD, will lead the new entity. North Sky will manage the funds raised by Piper Jaffray Private Capital, or about $700 million in committed capital. Minneapolis-based Piper Jaffray is an investment bank.

The last time I spoke with Jeff Rosenkranz was March 2008, just after he stepped down as head of mid-market banking with Piper Jaffray. Pretty good timing, and Rosenkranz enjoyed semi-retirement while the economy burned.

Now he’s back, launching a new mid-market investment bank called Metronome Partners.

“I loved the time I had with my family over the last couple of years, but I began to get an itch to get back into the business last winter,” Rosenkranz told me this afternoon. “I thought long and hard about whether to join a bigger firm or do something on my own, and ultimately decided to do it on my own. I think it’s the relationships that matter the most, and wanted to do it in a way that can really focus on the quality of advice, rather than the quantity.”

NEW YORK (Reuters) – Piper Jaffray Cos (PJC.N) on Monday said it will acquire Advisory Research Inc in a $218 million deal to expand its asset management business. Chicago, Illinois-based Advisory Research has $5.5 billion in assets under management. Piper Jaffray will pay $178 million in cash and $40 million in restricted stock. Brien OBrien, [...]

David Silverman and Matt Kane have joined Piper Jaffray as San Francisco-based managing directors in the firm’s technology media and telecom group, with a focus on software. Silverman previously was a partner with 3i Group, while Kane worked at Cowen & Co.

David Wirdnam and Matt Traina have joined Piper Jaffray as managing directors. Wirdnam will provide debt advisory and origination services to the firm’s debt capital markets and financial restructuring groups. He previously was a managing director with Citigroup’s leveraged finance team. Trainawill lead coverage of West Coast financial sponsors, and previously was in the financial sponsors group at Bank of America.

Michael Coyne has joined Piper Jaffray & Co. as head of its transportation and logistics practice. He previously was an independent consultant to public logistics companies and, before that, was a managing director with Bear Stearns.

Larry Zimmerman has joined Piper Jaffray & Co. as a managing director and head of the firm’s industrials and financial sponsor coverage business. He previously was with Deutsche Bank Securities.

Victor Caruso has joined Piper Jaffray as a New York-based managing director with the firm’s financial restructuring team. He previously was a managing director with Morgan Joseph & Co.