Investment Banking

With more than 390 investment banking, sales and trading and research personnel¹, FBR Capital Markets is a top ten investment bank² operating nationally and internationally.

FBR Capital Markets focuses its banking, trading and research efforts in seven broad industry sectors – consumer, diversified industrials, energy & natural resources, financial institutions, insurance, real estate and technology, media & telecom. We have a particular commitment to middle market companies, a vitally important sector of the U.S. economy. We provide a high level of service to small- and mid-cap companies, and for the last five years we have been the #3 book-running manager for all U.S. common stock transactions for issuers with market capitalizations of $1 billion or less.³

To complement and enhance FBR’s traditional strength as one of the leading equity underwriters for middle market companies, in mid-2008 the firm launched a convertible securities unit to broaden its product offerings and better serve small and mid-cap companies. FBR Capital Markets’ convertible securities team was founded by senior professionals from the former Bear Stearns’ convertible securities unit. The team will originate, structure and trade equity-linked securities – including both convertibles and equity derivatives.

Our Financial Sponsors group works closely with FBR Capital Markets’ industry groups to deliver an array of investment banking products and solutions to the private equity community and their portfolio companies.

We offer a full range of investment banking and financing services, identifying and structuring innovative opportunities for our clients:

• Initial public offerings (IPOs)
• Secondary and follow-on offerings
• 144A institutional equity private placements
• Convertible offerings and trading
• Public/Private recapitalizations
• Business creation and restructuring
• Preferred equity
• Mergers, acquisitions and dispositions
• Private block trades
• Fairness opinions and other advisory assignments

1) As of 12/31/08.

2) Source: Dealogic. As measured by the aggregate value of the U.S. common equity underwritings priced between 1/1/04 and 12/31/08 with apportioned credit including over-allotment to all book-runners. Includes only rank eligible transactions.

3) Source: Dealogic. Relates to total deal value of all common stock or common equity, including private placements, offered for all U.S. companies with a market capitalization of $1 billion or less. Transactions priced between 1/1/04 and 12/31/2008, with apportioned credit including over-allotment to all book-runners. Includes only rank eligible transactions.