Alternative management firm Cowen Group has agreed to acquire an investment bank.
Cowen announced Friday that the acquisition of Dahlman Rose & Company, which specializes in energy, metals and mining, transportation, chemicals and agriculture sectors, is an all-stock transaction. Financial terms of the deal were not disclosed.
The transaction is expected to close by the end of the first quarter and is subject to regulatory approval.
Founded in 1918, New York-based Cowen provides alternative investment, investment banking, research, and sales and trading services for a variety of firms including hedge funds and fund of hedge funds. With offices in New York, Boston and San Francisco, Dahlman provides research, sales and trading, capital markets, and strategic and financial advice to clients.