Pierpont Securities, a boutique broker-dealer, has completed its acquisition of Cortview Capital Holdings Inc. Pierpont is backed by Stone Point Capital and General Atlantic.
Pierpont Securities LLC (“Pierpont”), after receiving final approval from FINRA, today completes the final phase of its acquisition of Cortview Capital Holdings Inc. (“Cortview”). The Cortview and Pierpont trading businesses are now combined within Pierpont. The legacy Cortview broker dealer will be dedicated to the continued expansion of its Capital Markets Activities under the new name, Pierpont Capital Advisors LLC.
Pierpont Securities, a boutique broker-dealer, fulfills the liquidity, structuring and distribution needs of institutional and middle market fixed income investors.
Since closing on the purchase of Cortview in October 2012, Pierpont has expanded its sales and trading teams in NY, Stamford, Charlotte, and Salt Lake City, and established a presence in Santa Barbara, Calif. and Houston, Texas.
Recent hires include: Ramesh Anantha, a CLO/CDO trader from Cross Point Capital; S. Richard Baker, in High Yield Sales from GMP Securities; Mike Cardaci joined from Morgan Stanley to direct the securities lending effort; Yingwei Chen, a senior MBS sales specialist most recently with Brean Capital; Peter Dallow joined in MBS sales from CRT; Sanjeev Khurana, an MBS and structured products salesperson joined from Keybanc; Brian Kustrup, an agency/CMBS trader from KBW; Rich Park, an agency derivatives trader most recently at Knight Capital; Karl Pierce, a senior municipal trader joined to lead and build the municipal business; Paul Stokes, a senior high yield trader, formerly with UBS and Wachovia; and John Williamson joined as a salesperson from Century Securities.
“Our clients have already experienced meaningful synergies from this acquisition,” said CEO Mark B. Werner. “The addition of more than a dozen established and skilled professionals, many who have joined to lead key functions, further strengthens the expansion of our fixed income product suite. We continue to reinforce our position in the market and with our clients as a preferred liquidity provider.”
Pierpont has more than 150 employees in 13 regional offices across the U.S. Since inception, Pierpont has raised $225 million from its founders and strategic investors – Stone Point Capital LLC and General Atlantic LLC.
About Pierpont Securities
Pierpont Securities is a self-clearing, SEC-registered broker-dealer established in 2009. Pierpont acts as principal in the U.S. Treasury, federal agency, mortgage-backed securities, credit and financing markets, and serves institutional and middle market fixed income clients. For more information, see www.pierpontsecurities.com. Pierpont is a member of FINRA and SIPC.
About Stone Point Capital
Stone Point Capital LLC is a global private equity firm based in Greenwich, Connecticut, that has a 25-year record of making successful investments in the financial services industry. Stone Point Capital serves as the manager of the Trident Funds, which have raised more than $9 billion in committed capital to make investments in lending, banking, insurance, asset management, broker-dealer and other financial services companies. For further information about Stone Point Capital, see www.stonepoint.com.
About General Atlantic
General Atlantic (GA) is a leading global growth equity firm providing capital and strategic support for growth companies. GA combines a collaborative global approach, sector specific expertise, long-term investment horizon, and a deep understanding of growth drivers to partner with great management and build exceptional businesses worldwide. Established in 1980, GA manages approximately $17 billion in capital and has more than 75 investment professionals based in Greenwich, New York, Palo Alto, London, Munich, Hong Kong, Beijing, Singapore, Mumbai and Sao Paulo.