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Jefferies hires FBR exec for 144a equity offerings

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Jefferies, FBR, Ken Slosser, Jesse Mark, private equity, 144a
Composite photo of Statue of Liberty in New York City courtesy of TriggerPhoto/iStock/Getty Images.
  • Private equity can use 144A offerings as alternative exit
  • Slosser worked for more than 20 years at FBR
  • Building 144a practice at Jefferies

Jefferies hired FBR veteran Ken Slosser to lead a new permanent capital initiative that will provide 144a equity private placements, according to a person with knowledge of the situation.

Slosser reports to Jesse Mark, global head of equity capital markets at Jefferies.

Jefferies will be hiring more people to work on Slosser’s team, a spokesman said. Jefferies is creating the team in response to increased demand, especially among private equity firms, for this type of financing, the spokesman said.

Slosser worked at FBR for more than 20 years, joining in 1996 and ascending to head of investment banking before leaving in August, according to his LinkedIn profile.

During his tenure, FBR specialized in 144a offerings and completed 90-plus book-run offerings raising more than $20 billion.

A spokesman for FBR did not return a request for comment Monday.

For PE, 144a offerings provide additional equity capital for acquisitions, add-ons, organic growth or as an exit.

Action Item: Read more about 144a equity private placements here: http://bit.ly/2AqGpD1

View of New York City. Photo courtesy of TriggerPhoto/iStock/Getty Images