Daiwa Buys Into Sagent

Daiwa Securities Group Inc. has acquired just over a 20% equity interest in Sagent Advisors Inc., a New York-based boutique investment bank. The deal was valued at $52 million, with Daiwa to transfer its New York-based M&A team to Sagent. In addition, Daiwa Securities SMBC Co. Ltd. — a joint venture between Daiwa Securities Group and Sumitomo Mitsui Financial Group Inc. — has formed a business alliance with Sagent, which will add a focus on Japanese-related transactions. www.sagentadvisors.com