Makor Group, a brokerage serving hedge funds and institutional clients from offices in five financial centres, has placed a five-year corporate bond listed on the Frankfurt Stock Exchange.
The financing will underpin further expansion for Makor, following its recent acquisition of New York brokerage Oscar Gruss and Son and senior hires including Nicolas Marmurek, Ian Brenner and Mark Edwards to London cash equity sales.
The bond has a maturity of five years with a yield of 7.5 per cent, due semi-annually. The placing was oversubscribed, with investors drawn from a range of institutional and private clients.
Makor Group’s co-founder and chief executive Michael Halimi says: “The successful placing of this listed bond demonstrates investors’ confidence in Makor Group’s standing and potential as a boutique brokerage that properly incentivises the best market professionals to deliver a differentiated service to our clients, without the bias that comes from having a proprietary book of our own. We are extremely excited about our growth prospects as we continue to build an international footprint and take advantage of unprecedented market disruption to attract talent and clients to the firm.”
Avi Bouhadana, co-founder and partner, says: “The New York acquisition was transformational in that it gave us access to a significantly wider pool of existing and potential clients, and the genuine ability to trade on their behalf around the clock. But there is much more to come from the firm as we move towards 200 employees and accelerate our plans to deliver a broad suite of market solutions to our clients in Europe, Asia and the Americas.”
