Three Ocean Partners, the latest investment banking boutique from David Knowlton, officially launched yesterday although it already has several assignments.
The New York IB will advise on M&A, corporate finance solutions, restructurings and financings. Three Ocean, like its larger rivals Harris Williams and Moelis & Co. , will not have a lending, trading or research arm.
However, the IB will have a merchant banking division that will allow the firm to co-invest alongside clients. Three Ocean will split its practice between private equity and corporate sponsors, says Knowlton, who is managing partner. The IB will focus on consumer products, retail, luxury consumer, industrial, business services, FIG and media, he says.