ARLINGTON, Va., March 20 /PRNewswire-FirstCall/ -- FBR Capital Markets Corporation (FBR Capital Markets) today announced that it has acquired the assets and personnel of East Peak Advisors, LLC, an investment bank dedicated to serving the most innovative companies powering the information technology economy.
Founded in 2002 and headquartered in the San Francisco Bay Area, East Peak Advisors comprises a team of highly regarded, experienced bankers who have collectively executed more than 250 transactions in their careers. They have provided strategic advice to a wide range of technology and communications companies worldwide with areas of focus including the wireless, internet, and technology infrastructure sectors.
"In 2008, FBR Capital Markets' strategic build-out includes the development of our technology, media & telecom investment banking platform. This acquisition allows us to provide our clients with enhanced resources and broader sector expertise, and further positions us as a leading investment bank serving the middle market." said Eric F. Billings, Chairman and Chief Executive Officer of FBR Capital Markets.
David DeRuff, who founded East Peak and will join FBR Capital Markets as Senior Managing Director and Head of Technology, Media & Telecom Investment Banking added, "With a similar approach to innovative ideas and dedication to client service, we look forward to combining forces with FBR's experienced East Coast team and continuing to serve clients worldwide as a dedicated and trusted advisor. The technology, media & telecom markets are among the most dynamic in the global economy and we are thrilled to combine our abilities and experience with FBR's extraordinary equity and M&A capabilities to drive our clients' success."
Along with Mr. DeRuff, Brewer Stone, Managing Director and East Peak co-founder; Kurtis Fechtmeyer, Managing Director; M. Christina Laskowski, Senior Vice President; Scott Stewart, Associate; and Noel Torres, Associate, will be joining FBR Capital Markets' TMT Investment Banking group.
Over the past year, FBR Capital Markets has expanded its business to include a Mergers & Acquisitions platform as well as establishing a global presence. With a commitment to mid-market and growing companies, FBR Capital Markets focuses on generating unique opportunities, offering innovative advice, providing attractive growth capital options and creating shareholder liquidity alternatives for clients. FBR Capital Markets is the #1 book-running manager of initial common equity for U.S. and Bermuda-based companies with a market capitalization under $5 billion USD(1).
FBR Capital Markets Corporation, a majority-owned subsidiary of Friedman, Billings, Ramsey Group, Inc., provides investment banking*, merger and acquisition advisory services*, institutional brokerage*, research*, asset management and private wealth services. FBR Capital Markets focuses capital and financial expertise on eight industry sectors: consumer, diversified industrials, energy & natural resources, financial institutions, healthcare, insurance, real estate, and technology, media & telecom. FBR Capital Markets is headquartered in the Washington, D.C. metropolitan area with offices in Arlington, VA; Boston; Dallas; Houston; Irvine; London, England; New York; San Francisco; and Sydney, Australia. For more information, please visit http://www.fbrcapitalmarkets.com/.
*Friedman, Billings, Ramsey & Co., Inc. (1) Source: Dealogic, ECM Analytics. Rank Eligible Total Amount of Apportioned Total Capital including overallotments. US and Bermuda based issuers only. Initial Common Equity includes IPOs and PIPOs. PIPOs as defined by Dealogic are "Pre-IPOs." (12/31/2002 - 1/1/2008).
