Piper Jaffray Companies (NYSE: PJC) a leading investment bank and institutional securities firm, announced today it has completed its sale of the remaining business of Advisory Research, Inc., resulting in the firm exiting its traditional asset management business. A partner group led by Matthew Swaim, managing director and executive committee chairman at Advisory Research, purchased the remaining Advisory Research business following the sale of the midstream energy asset management (MLP) business to Tortoise Capital Advisors on September 20, 2019.

Advisory Research will continue to manage existing products and assets to help clients capitalize on investment opportunities in less efficient markets through a combination of actively managed strategies, differentiated processes, efficient operations, and hands-on client service “We are confident that Matt and his partners will continue to provide excellent client services and investment results to their client base,” said Deb Schoneman, president of Piper Jaffray.

“We are grateful for Piper Jaffray’s support through this transition and are ready to move forward now that the sale has officially closed,” said Swaim. “We continue to harness highly active portfolios and highly specialized professionals to align ourselves with client objectives in this 100% employee-owned environment.”

Piper Jaffray Companies (NYSE: PJC) is a leading investment bank and institutional securities firm driven to help clients Realize the Power of Partnership®. Securities brokerage and investment banking services are offered in the U.S. through Piper Jaffray & Co., member SIPC and FINRA; in Europe through Piper Jaffray Ltd., authorized and regulated by the U.K. Financial Conduct Authority; and in Hong Kong through Piper Jaffray Hong Kong Limited, authorized and regulated by the Securities and Futures Commission. Asset management products and services are offered through five separate investment advisory affiliates.

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© 2019 Piper Jaffray Companies. 800 Nicollet Mall, Suite 1000, Minneapolis, Minnesota 55402-7036

Pamela Steensland Tel: 612 303-8185 pamela.k.steensland@pjc.com

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