PiCapital InternationalLLC ("Pi Capital") is pleased to announce that it acted as the exclusive financial advisor to South Street Securities Holdings Inc. ("South Street") in the placement of an additional $30 million of growth equity capital from Atlas Merchant Capital LLC ("Atlas Merchant Capital") on September 20, 2016.
The investment follows the $20 million investment Atlas Merchant Capital made into South Street in June 2015 and is a testament to the growth opportunities both South Street and Atlas Merchant Capital are seeing in the market. The investment further reflects Atlas Merchant Capital's strategy of investing in and growing financial services companies that benefit from its long-term perspective, partnership approach and operating expertise.
Jim Tabacchi, CEO of South Street, noted that "the financial services landscape is in flux, and we are pleased to be well-positioned to expand our services for our clients and build an enduring financial services franchise. It has been great working with the Atlas Merchant Capital team for over a year now, and I am delighted they have chosen to increase their investment in us." Bob Diamond, CEO and founding partner of Atlas Merchant Capital, said, "Jim and his team are great partners. Our investment in South Street, and the progress we are making with them in building the business, demonstrates the attractive opportunities that exist in the broker dealer sector."
Separately, in July 2016, South Street closed on $10 million of additional debt capital for the growth of its matched book repo business.
About Atlas Merchant Capital LLC
Atlas Merchant Capital LLC was founded to participate in compelling market opportunities in the financial services sector. Based in New York and London, Atlas Merchant Capital was founded by Bob Diamond and David Schamis, who together with their partners form a complementary partnership with extensive operating and investing expertise across the financial services landscape.
Pi Capital provides financial advisory services to corporations, governments and financial sponsors enabling its clients to make and execute the strategic decisions needed for success in domestic and global markets. Pi Capital's services include advising on mergers and acquisitions, recapitalizations and restructurings, and raising private capital. The firm's global network of clients and capital providers spans North America, Asia, Latin America and EMEA. Pi Capital's team consists of experienced international bankers, familiar with cross border complexity and cultural nuances, delivering transaction, sector and product expertise. Pi Capital offers access to alternative investment and non-traditional pools of capital. Today, Pi Capital focuses on the financial institutions, industrials and energy sectors. All regulated activities are conducted through Bradley Woods & Co. Ltd. (member FINRA/SIPC).