Cortview Capital Securities was bought last year by Pierpont Securities.
So long, Cortview. Hello, Pierpont.
Less than three years after it came on the scene in Richmond, the Cortview Capital Securities name last week went into the history books, following the firm’s acquisition by Pierpont Securities.
Cortview, a bond broker-dealer founded downtown in September 2010, had been a fast rising financial firm that expanded across the country and quickly built up to almost 100 employees in nine cities.
That was enough to catch the attention of Stamford, Conn.-based Pierpont, which first announced the deal to purchase Cortview in July and closed on the acquisition in October.
Pierpont kept the Cortview name around until last week, when it was formally combined into the Pierpont brand, under Pierpont Capital Advisors.
The company would not disclose how many employees it has in its Richmond office, nor would it name its local head. It continues to occupy Cortview’s former 8,000-square-foot headquarters on the 11th floor of Two James Center in downtown Richmond.
Pierpont said it has expanded its sales teams in several markets since acquiring Cortview and has set up shop in Santa Barbara, Calif., and Houston.
Cortview was founded by four veterans of the financial industry, including Richmonder Ted Luse, who left BB&T Capital Markets to launch the firm. Luse was the only local of the founders and has left the company.
Cortview’s growth was fueled by a $125 million in backing from New York private equity firm Warburg Pincus.
It expanded to markets such as New York, Memphis, Boca Raton, Fla., Chicago, Los Angeles and Salt Lake City.
Pierpont, founded in 2009, also has been funded by outside investors: Stone Point Capital LLC and General Atlantic LLC.
Cortview Capital Securities was bought last year by Pierpont Securities.
So long, Cortview. Hello, Pierpont.
Less than three years after it came on the scene in Richmond, the Cortview Capital Securities name last week went into the history books, following the firm’s acquisition by Pierpont Securities.
Cortview, a bond broker-dealer founded downtown in September 2010, had been a fast rising financial firm that expanded across the country and quickly built up to almost 100 employees in nine cities.
That was enough to catch the attention of Stamford, Conn.-based Pierpont, which first announced the deal to purchase Cortview in July and closed on the acquisition in October.
Pierpont kept the Cortview name around until last week, when it was formally combined into the Pierpont brand, under Pierpont Capital Advisors.
The company would not disclose how many employees it has in its Richmond office, nor would it name its local head. It continues to occupy Cortview’s former 8,000-square-foot headquarters on the 11th floor of Two James Center in downtown Richmond.
Pierpont said it has expanded its sales teams in several markets since acquiring Cortview and has set up shop in Santa Barbara, Calif., and Houston.
Cortview was founded by four veterans of the financial industry, including Richmonder Ted Luse, who left BB&T Capital Markets to launch the firm. Luse was the only local of the founders and has left the company.
Cortview’s growth was fueled by a $125 million in backing from New York private equity firm Warburg Pincus.
It expanded to markets such as New York, Memphis, Boca Raton, Fla., Chicago, Los Angeles and Salt Lake City.
Pierpont, founded in 2009, also has been funded by outside investors: Stone Point Capital LLC and General Atlantic LLC.