Cowen Group, Inc. and CRT Capital Group LLC Form Strategic Partnership

Partnership Will Provide Origination and Distribution For Fixed Income and Convertible Securities

NEW YORK--(BUSINESS WIRE)-- Cowen Group, Inc. (“Cowen”) (NASDAQ: COWN) and CRT Capital Group, LLC (“CRT”) today announced that they have entered into an exclusive relationship for the origination and distribution of corporate fixed income and convertible securities. Under the terms of the agreement, it is anticipated that Cowen’s Investment Banking and Global Capital Markets teams will focus on origination activities, while CRT will utilize its sales force in the distribution of these securities.

“We are very pleased to announce this strategic alliance with CRT,” commented Jeffrey Solomon, Chief Executive Officer of Cowen and Company, Cowen Group’s broker-dealer platform. “We believe that CRT’s outstanding credit research and fixed income and convertible sales & trading capabilities will dovetail nicely with Cowen’s comprehensive sourcing and execution abilities. We view this as an important step forward for both organizations in our efforts to meet evolving client needs across all layers of the capital structure.”

“We believe the synergies created by this alliance will help CRT and Cowen become a preferred resource for both growing and established companies seeking to bring fixed income and convertible transactions to market,” added Ron Kripalani, Chief Executive Officer of CRT. “During a period when best-in-class execution and distribution are all the more important, we are fortunate to be joining with a well-regarded partner like Cowen, whose skilled origination team and diverse client base will help CRT better leverage its cross capital research capabilities and long-established sales and trading platform.”

Cowen Group, Inc.

Cowen Group, Inc. is a diversified financial services firm and, together with its consolidated subsidiaries, provides alternative investment management, investment banking, research, and sales and trading services through its two business segments: Ramius and its affiliates makes up the Company's alternative investment management segment, while Cowen and Company is its broker-dealer segment. Its alternative investment management products, solutions and services include hedge funds, replication products, managed futures funds, fund of funds, real estate, health care royalty funds and cash management services. Cowen and Company offers industry focused investment banking for growth-oriented companies, domain knowledge-driven research and a sales and trading platform for institutional investors. Founded in 1918, the firm is headquartered in New York and has offices located in major financial centers around the world.

CRT Capital Group LLC

CRT provides security brokerage and research services to over 1,200 institutional accounts with established counterparty relationships around the world. The firm caters to asset managers, insurance companies, pension funds, hedge funds and investment firms. CRT, formerly known as Credit Research and Trading LLC, was founded in 1989 and is headquartered in Stamford, Connecticut.

Media:
Cowen:Dan Gagnier, 212-687-8080
or
CRT:John Nielsen, 203-569-4316

Source: Cowen Group, Inc.