Private Client Division Identifies and Provides Access to High-Quality Capital Raisings Through a Combination of Proprietary Funding and Open Architecture Platforms
NEW YORK, April 19, 2023 /PRNewswire/ — Oppenheimer & Co. Inc. (Oppenheimer) — a leading investment bank, wealth manager, and a subsidiary of Oppenheimer Holdings (NYSE: OPY) —announced today the fifth anniversary of its Private Market Opportunity (PMO) initiative, a collaborative effort among the firm’s Wealth Management, Capital Markets, and Investment Banking Divisions to offer rare access to private market investments for qualified clients.
Through the PMO initiative, clients of Oppenheimer’s Private Client Division can invest in companies typically accessible only to institutional investors, venture capital, and private equity firms, including companies that have yet to conduct initial public offerings. By combining the firm’s expertise in capital markets, due diligence, portfolio construction and distribution, clients can access strategies with novel funding structures, customized for specific issuers that provide an added dimension of diversification to their portfolios.
Ed Harrington, Executive Vice President, Private Client Division, said, “Five years ago, Oppenheimer launched the PMO initiative to leverage the firm’s intellectual capital in a way that tapped into an often overlooked source of portfolio diversification and return. In a world where the quantity of investment choices – many of which are highly commoditized – has only increased, the PMO platform demonstrates our commitment to providing our clients access to unique, specialized investment strategies that would not otherwise be accessible.”
In addition to the PMO initiative – which cultivates the firm’s Vista series of proprietary investments exclusive to Oppenheimer – the Private Client Division deliberately sources high-quality capital-raising opportunities through an open architecture model that aligns itself with leading fund sponsors. Together, these proprietary and open architecture private investments have resulted in more than $2 billion in capital-raising opportunities for Oppenheimer’s wealth management clients since the inception of the platforms.
Bryan McKigney, President, Oppenheimer Asset Management, concluded, “Unlike countless other access points to private markets, the foundation of Oppenheimer’s effort to avail sophisticated investors with additional investment options, achieve return, and gain diversity begins with considering their unique needs and objectives. By using these factors as a starting point, our team has been able to leverage the depth of our resources to build a platform that not only features uncommon choice and flexibility but also takes into account our clients’ best interests. Going forward, we are eager to cultivate a new series of Private Market Opportunities in what we believe to be an increasingly robust opportunity set for private markets.”
Oppenheimer & Co. Inc.
Oppenheimer & Co. Inc. (Oppenheimer), a principal subsidiary of Oppenheimer Holdings Inc. (OPY on the New York Stock Exchange), and its affiliates provide a full range of wealth management, securities brokerage and investment banking services to high net-worth individuals, families, corporate executives, local governments, businesses and institutions.
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SOURCE Oppenheimer & Co. Inc.