Cowen to Acquire Businesses from CRT Capital

Cowen, a diversified financial services firm, will acquire CRT’s credit products, credit research, special situations and emerging markets units.

On March 22, Willkie client Cowen Group, Inc. and CRT Capital Group LLC announced the signing of a definitive agreement under which Cowen and Company will acquire CRT’s credit products, credit research, special situations and emerging markets units.  The transaction positions the acquired business, which will be named Cowen Credit Research and Trading, as a leader in distressed debt, special situations and emerging markets.

CRT provides security brokerage and research services to over 1,500 institutional accounts with established counterparty relationships around the world. CRT, which was founded in 1989, has offices in Stamford, CT and New York, NY.

Cowen Group is a diversified financial services firm that provides alternative asset management, investment banking, research, and sales and trading services. Its two business segments are Ramius and affiliates, which make up the company’s alternative investment segment, and Cowen and Company and affiliates, which comprise the company’s broker-dealer segment.

The Willkie deal team was led by partners David Boston and Danielle Scalzo.