Cowen Group Completes Acquisition of KDC Securities; Terms Undisclosed
Cowen Group (NASDAQ: COWN) today announced that it completed its previously announced acquisition of KDC Securities, a securities lending business. The transaction was completed on November 1, 2012.
Financial terms of the transaction were not disclosed.
About Cowen Group
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 make 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.
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