Isaac Capital Group Acquires Stake in Legent Clearing Firm
(firmenpresse) - SAN DIEGO, CA -- (Marketwire) -- 01/23/12 -- Isaac Capital Group (ICG), the private equity division of Isaac Organization, announced today that it has acquired a stake in Legent Clearing LLC ("Legent"), an independent securities clearing firm. As a result of the transaction, Legent's equity capitalization has been initially increased by approximately $20 million.
Legent's Chief Executive Officer Christopher Frankel noted, "Legent will improve and expand its product and service offerings and continue to build on its network of over 75 fully-disclosed broker-dealer correspondents. We expect our existing and prospective correspondents to see tangible benefits from this transaction as we roll out service enhancements over the next several months. The infusion of new capital and elimination of debt transforms our balance sheet and affords us the opportunity to better serve our clients."
Legent Clearing, based in Omaha, Nebraska, is a FINRA member firm providing securities clearing and other services to correspondent FINRA member firms. Its current client correspondent roster includes more than 75 broker/dealers. Securities clearing and settlement is the process of matching, recording and processing transaction instructions and exchanging payment between counter parties for broker/dealers and their clients making securities trades. For more information, visit .
Isaac Organization ("the Company") is an international private investment firm headquartered in San Diego, CA with offices in Las Vegas, Nevada and Ottawa, Canada. Through its private equity division, Isaac Capital Group (ICG), the Company invests in development-stage, growth and middle market companies, primarily with revenues between $10 million and $750 million. ICG is building a diverse portfolio that spans a wide range of industries known to perform well in both bear and bull markets. ICG focuses on buyout capital, growth capital, leveraged finance investments, senior and mezzanine debt, acquisitions, re-capitalizations, securitizations and PIPEs. For more information, visit .
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Isaac Capital Group
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Datum: 23.01.2012 - 13:30 Uhr
Sprache: Deutsch
News-ID 106610
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SAN DIEGO, CA
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Commercial & Investment Banking
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