Cowen completes on purchase of CRT businesses

Cowen Group has completed the purchase of CRT Capital Group's credit products, credit research, special situations and emerging markets units; the financial terms of the deal were not disclosed.

NEW YORK--(BUSINESS WIRE)--Cowen Group, Inc. (NASDAQ:COWN) (“Cowen” or the “Company”) today announced that it completed its previously announced acquisition of CRT Capital Group LLC’s (“CRT”) credit products, credit research, special situations and emerging markets units. Financial terms of transaction were not disclosed.

About Cowen Group, Inc.

Cowen Group, Inc. is a diversified financial services firm and, together with its consolidated subsidiaries, provides alternative asset management, investment banking, research, sales and trading and prime brokerage services through its two business segments: Ramius and its affiliates make up the Company’s alternative investment segment, while Cowen and Company and its affiliates make up the Company’s broker-dealer segment. Ramius provides alternative asset management solutions to a global client base and manages a significant portion of Cowen’s proprietary capital. Cowen and Company and its affiliates offer industry focused investment banking for growth-oriented companies, domain knowledge-driven research, a sales and trading platform for institutional investors and a comprehensive suite of prime brokerage services. Founded in 1918, the firm is headquartered in New York and has offices worldwide.