B. Riley Asset Management Acquires Rights to Manage Dialectic Hedge Funds
- Press Release
Los Angeles, CA, June 12, 2014-- B. Riley & Co., LLC, (B. RILEY) www.brileyco.com, a leading investment bank which provides a full array of corporate finance, research, sales and trading services, announced that it acted as Co-Manager in a $552,000,000 Common Stock Offering for CoStar Group, Inc. (NASDAQ: CSGP).
The offering, which closed June 11, 2014, consisted of 3,450,000 shares of CoStar common stock priced at $160.00 per share. It included an overallotment of 450,000 shares which the underwriters exercised in full.
CoStar is a leading provider of commercial real estate information, analytics and online marketplaces. B. RILEY maintains both Research coverage of the sector and has a dedicated investment banking team specializing in real estate information analytics and services.
B. RILEY’s investment banking coverage of the industry is led by Ryan Bernath, Managing Director and Head of Investment Banking, along with Director Salomon Kamalodine and Associate Chris Sigala.
In the CoStar transaction, B. RILEY joined as Co-Manager with joint bookrunning managers J.P. Morgan, Goldman, Sachs & Co., BofA Merrill Lynch, Citigroup, SunTrust Robinson Humphrey and Wells Fargo Securities. Other Co-Managers included Needham & Company, Stephens Inc., William Blair, and JMP Securities.
Founded in 1987, Washington, D.C.-based CoStar conducts expansive, ongoing research to produce and maintain a comprehensive database of commercial real estate information. Its suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. Through LoopNet, the Company operates the most heavily trafficked commercial real estate marketplace online with more than 8 million registered members. CoStar operates websites that have approximately 16 million unique monthly visitors in aggregate. CoStar maintains offices throughout the U.S. and in Europe with a staff of over 2,300 worldwide, including the industry's largest professional research organization.
Information contained herein should not be considered an offer or solicitation to buy or sell securities.
About B. RILEY:
B. Riley & Co., LLC (B. RILEY) is a leading investment bank which provides a full array of corporate finance, research, and sales & trading to corporate, institutional and high net worth individual clients. Investment banking services include initial, secondary and follow-on offerings, institutional private placements, and merger and acquisitions advisory to public and private middle market companies. The firm is nationally recognized for its highly ranked proprietary equity research. Founded in 1997, B. RILEY is headquartered in Los Angeles and maintains offices in: New York, San Francisco, and Newport Beach, California. It is a member of FINRA and SIPC. For more information, please visit www.brileyco.com
For More Information Contact:
For B. Riley & Co.:
Managing Director, Head of Investment Banking
The Orbach Company, Inc.