COWEN GROUP, INC. (NASDAQ:COWN) Files An 8-K Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure.
funds that it manages that, as of December 1, 2016, the estimated
unaudited amount of assets under management was approximately $10.7
billion, which reflects a net decrease of approximately $0.02
billion since November 1, 2016. The Companys estimate of assets
under management is inclusive of performance for the month ended
November 30, 2016 and capital flows as of December 1, 2016.
|
|
|
November 1, 2016 (f)
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Net Flows/Performance
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December 1, 2016 (f)
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||||||
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Platform
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(dollars in millions)
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||||||||||
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Hedge Funds (a) (b) (c)
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$
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6,714
|
|
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$
|
|
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$
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6,906
|
|
|
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Ramius Trading Strategies
|
|
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(16
|
)
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|||||||
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Real Estate (a) (e)
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1,527
|
|
|
|
|
1,527
|
|
||||
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Healthcare Royalty Partners (d) (e)
|
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2,343
|
|
(196
|
)
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|
2,147
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|||||
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Other
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|
|
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(5
|
)
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|
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|||||
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Total
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$
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10,677
|
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$
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(24
|
)
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$
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10,653
|
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(a)
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The Company owns between 20% and 55% of the general partners,
investment managers or managing members of the real estate business, the activist business and the global macro business (the single strategy hedge funds), the alternative solutions business and the equity long/short business. We do not possess unilateral control over any of the foregoing business. The Company owns 50% of the investment manager of the event-driven business. |
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(b)
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Includes approximately $615 million of committed but undrawn
capital that will only be charged fees when invested. |
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(c)
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These amounts include the Company’s invested capital of approximately $164.5 million and $162 million as of December 1, 2016, and November 1, 2016, respectively (including interests in both a registered investment company and an Undertakings for Collective Investment Trust (or UCITs fund), each of which pursues a hedge fund-> |
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(d)
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These amounts include the Company’s invested capital of
approximately $10 million and $14.1 million as of December 1, 2016, and November 1, 2016, respectively. |
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(e)
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This amount reflects committed capital.
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(f)
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Net performance is net of all management and incentive fees
and includes the effect of any foreign exchange translation adjustments and leverage in certain funds. |
About COWEN GROUP, INC. (NASDAQ:COWN)
Cowen Group, Inc. is a financial services company. The Company provides alternative investment management, investment banking, research, sales and trading, and prime brokerage services. It operates through two segments: alternative investment and broker-dealer. The alternative investment segment includes hedge funds, private equity structures, registered investment companies and listed investment vehicles. The broker-dealer segment offers industry focused investment banking for growth-oriented companies, including advisory and global capital markets origination and domain knowledge-driven research and a sales and trading platform for institutional investors under the Cowen name. Its broker-dealer businesses include research, sales and trading and investment banking services to companies and institutional investor clients in its target sectors, which include healthcare, technology, information and technology services, consumer, real estate investment trusts, energy and transportation. COWEN GROUP, INC. (NASDAQ:COWN) Recent Trading Information
COWEN GROUP, INC. (NASDAQ:COWN) closed its last trading session up +0.30 at 15.60 with 331,404 shares trading hands.
