The firm was founded in 1971 by Oliver Fox-Pitt and Robin Kelton, with assistance from Len Caronia.[3] After expanding to the U.S. in the 1980s, FPK launched Eldon, a financial services focused investment manager, in 1994 (Eldon was sold to Hiscox in 2003).
Swiss Reinsurance Co. acquired FPK in 1998 for US$200 million.[4] Under Swiss Re's ownership, the firm expanded further globally, entering Asia.
A consortium led by private equity firm J.C. Flowers & Co. and the bank's management led by Giles Fitzpatrick, CEO, purchased Fox-Pitt from Swiss Reinsurance Co. in February 2006. Lazard investment banker Gary Parr also invested in Fox-Pitt.
Cochran Caronia Waller logo, prior to its acquisition by Fox-Pitt, Kelton
Under management and private equity ownership, the firm acquired another investment boutique, Chicago-based Cochran Caronia Waller (CCW) in 2007. CCW was founded in 1997 as Cochran Caronia & Co by George Cochran, Leonard Caronia and John Waller and was renamed Cochran Caronia Waller in 2006.[5][6] Like FPK, it specialised in financial services, focusing on the property-casualty, life and health sectors. Among the notable transactions in which the firm was involved, FPK, and its co-owner J. Christopher Flowers, advised Bank of America on its acquisition of Merrill Lynch in 2008.
In 2009, Macquarie Group, Australia's largest investment bank, entered into serious discussions about a takeover of Fox-Pitt Kelton from its current ownership,[7] and on September 30, 2009, the two firms announced a purchase agreement valuing Fox-Pitt Kelton at US$146.7 million.[8] Macquarie's acquisition of Fox-Pitt Kelton was completed in November 2009.[9]
Referencesedit
^Edmonston, Peter (September 30, 2009). "Macquarie to Buy the Boutique Firm Fox-Pitt Kelton". DealBook. The New York Times. Retrieved July 14, 2017.
^"Macquarie completes acquisition of Fox-Pitt Kelton Cochran Caronia Waller" (Press release). Macquarie. December 1, 2009. Retrieved July 14, 2017.
^Yerak, Becky (October 14, 2009). "Raising capital a Signature event". Chicago Tribune. p. 23. Retrieved July 5, 2018 – via Newspapers.com (Publisher Extra).
^"Fox-Pitt bows to $200m Swiss Re offer". Independent. London. December 22, 1998.
^. Investment Dealers' Digest. May 28, 2007. Archived from the original on November 2, 2012.
^"Fox-Pitt, Kelton to merge with U.S. broker CCW". Reuters. May 24, 2007.
^Corkery, Michael; Craig, Susanne (August 20, 2009). "Macquarie In Takeover Talks For Fox-Pitt Kelton". Deal Journal. The Wall Street Journal.
^Fineman, Josh; Choudhury, Ambereen (September 30, 2009). "Macquarie Agrees to Buy Fox-Pitt Kelton for $146.7 Million". Bloomburg.
^"Macquarie Completes Acquisition of Fox-Pitt Kelton Cochran Caronia Waller". www.businesswire.com. December 1, 2009. Retrieved December 15, 2020.
Further readingedit
Fox-Pitt in flower. The Deal, September 19, 2008
External linksedit
Fox-Pitt, Kelton (company website)
January 01, 1970
pitt, kelton, cochran, caronia, waller, equestrian, william, pitt, formerly, pitt, kelton, investment, bank, focused, mergers, acquisitions, advisory, services, private, placements, debt, equity, well, equity, research, specialised, transactions, involving, fi. For the equestrian see William Fox Pitt Fox Pitt Kelton Cochran Caronia Waller formerly Fox Pitt Kelton or FPK was an investment bank focused on mergers and acquisitions advisory services private placements of debt and equity as well as equity research FPK specialised in transactions involving financial institutions and financial services companies Fox Pitt Kelton Cochran Caronia WallerCompany typePrivateIndustryInvestment bankingFounded1971FounderOliver Fox PittRobin KeltonFateacquired by Macquarie Group 2009 HeadquartersLondon England United KingdomNew York New York United StatesProductsFinancial servicesNumber of employees285ParentSwiss Re former J C Flowers amp Co former Macquarie Group current Websitewww fpk com The firm which had eight offices globally in London New York Chicago Hartford San Francisco Boston Hong Kong and Tokyo had approximately 285 employees including 60 research analysts and 60 employees in sales and trading It was acquired by Macquarie Group in November 2009 1 2 Contents 1 History 2 References 3 Further reading 4 External linksHistory editThe firm was founded in 1971 by Oliver Fox Pitt and Robin Kelton with assistance from Len Caronia 3 After expanding to the U S in the 1980s FPK launched Eldon a financial services focused investment manager in 1994 Eldon was sold to Hiscox in 2003 Swiss Reinsurance Co acquired FPK in 1998 for US 200 million 4 Under Swiss Re s ownership the firm expanded further globally entering Asia A consortium led by private equity firm J C Flowers amp Co and the bank s management led by Giles Fitzpatrick CEO purchased Fox Pitt from Swiss Reinsurance Co in February 2006 Lazard investment banker Gary Parr also invested in Fox Pitt nbsp Cochran Caronia Waller logo prior to its acquisition by Fox Pitt Kelton Under management and private equity ownership the firm acquired another investment boutique Chicago based Cochran Caronia Waller CCW in 2007 CCW was founded in 1997 as Cochran Caronia amp Co by George Cochran Leonard Caronia and John Waller and was renamed Cochran Caronia Waller in 2006 5 6 Like FPK it specialised in financial services focusing on the property casualty life and health sectors Among the notable transactions in which the firm was involved FPK and its co owner J Christopher Flowers advised Bank of America on its acquisition of Merrill Lynch in 2008 In 2009 Macquarie Group Australia s largest investment bank entered into serious discussions about a takeover of Fox Pitt Kelton from its current ownership 7 and on September 30 2009 the two firms announced a purchase agreement valuing Fox Pitt Kelton at US 146 7 million 8 Macquarie s acquisition of Fox Pitt Kelton was completed in November 2009 9 References edit Edmonston Peter September 30 2009 Macquarie to Buy the Boutique Firm Fox Pitt Kelton DealBook The New York Times Retrieved July 14 2017 Macquarie completes acquisition of Fox Pitt Kelton Cochran Caronia Waller Press release Macquarie December 1 2009 Retrieved July 14 2017 Yerak Becky October 14 2009 Raising capital a Signature event Chicago Tribune p 23 Retrieved July 5 2018 via Newspapers com Publisher Extra Fox Pitt bows to 200m Swiss Re offer Independent London December 22 1998 Fox Pitt Cochran Caronia Join Forces Deal is first since J C Flowers buyout Investment Dealers Digest May 28 2007 Archived from the original on November 2 2012 Fox Pitt Kelton to merge with U S broker CCW Reuters May 24 2007 Corkery Michael Craig Susanne August 20 2009 Macquarie In Takeover Talks For Fox Pitt Kelton Deal Journal The Wall Street Journal Fineman Josh Choudhury Ambereen September 30 2009 Macquarie Agrees to Buy Fox Pitt Kelton for 146 7 Million Bloomburg Macquarie Completes Acquisition of Fox Pitt Kelton Cochran Caronia Waller www businesswire com December 1 2009 Retrieved December 15 2020 Further reading editFox Pitt in flower The Deal September 19 2008External links editFox Pitt Kelton company website Retrieved from https en wikipedia org w index php title Fox Pitt Kelton Cochran Caronia Waller amp oldid 1181248318, wikipedia, wiki, book, books, library,
