Financial services company Raymond James Financial Inc. announced on Oct. 14 it has acquired a majority stake in GreensLedge Holdings LLC, a boutique investment bank with strengths in structured credit and securitization.
Founded in 2008, GreensLedge is known for combining strategic advisory services with arranging CLOs, CDOs, Rated Feeders, CFOs, ABS and debt offerings. Raymond James officials said the acquisition would deepen its capital markets capabilities. The acquisition also formalizes a longstanding relationship, officials said. Raymond James will acquire a majority ownership stake, while Sumitomo Mitsui Trust Group, Inc., a GreensLedge partner, will retain a minority interest. Officials said the deal is still subject to regulatory approvals and other conditions.
“We’re excited to take this next step with the GreensLedge team,” Jim Bunn, president of Capital Markets and Advisory at Raymond James, said. “Their specialized expertise in structured products, paired with our robust fixed-income distribution and trading capabilities, unites best-in-class strengths, forming a compelling strategic partnership. More importantly, our cultural alignment and collaborative spirit will drive innovation and deliver meaningful value to our institutional clients.”
GreensLedge’s managing partners, James “Jim” Kane, Brian Zeitlin, Lesley Goldwasser and Ken Wormser, will provide the partnership with decades of capital markets experience, officials said.
“We’re extremely proud of the business we have built over the years. Without our team’s trust and dedication, GreensLedge wouldn’t be where it is today,” Goldwasser said.
“The decision to partner with Raymond James was made with our employees and clients foremost in our minds. We believe strongly in our shared vision for delivering service without compromise,” said Wormser.