On September 27, 2019, Piper Jaffray Companies announced the completion of its sale of Advisory Research Inc.
The remaining Advisory Research Inc. (“Advisory Research”) business was purchased from Piper Jaffray Companies (“Piper Jaffrey”) by a partner group in a management buyout led by Matthew Swaim, the managing director and executive committee chairman of Advisory Research. The assets and products of Advisory Research will continue to be managed by Advisory Research, which is now wholly owned by employees. Terms of the deal were not disclosed.
Advisory Research, based in Chicago, is an independent boutique asset manager that manages $2.7 billion in assets as of August 31, 2019.
Piper Jaffrey (NYSE: PJC), based in Minneapolis, is an investment bank and institutional securities firm that offers securities brokerage and investment banking services in the U.S., Hong Kong and Europe.
To read the press release: please click here.