South Street Securities Receives Investment From Atlas Merchant Capital, INTL FCStone Securities Inc.'s Investment Banking Division Advises
NEW YORK, June 30, 2015 (GLOBE NEWSWIRE) -- INTL FCStone Inc. (Nasdaq:INTL) today announced that its wholly-owned subsidiary, INTL FCStone Securities Inc., acted as the exclusive financial adviser and lead arranger to South Street Securities Holdings Inc. ("South Street") in the placement of new equity capital from Atlas Merchant Capital LLC ("Atlas") on June 29, 2015.
South Street Securities Holdings Inc. is a leading financial services firm specialized in facilitating borrowing and lending transactions via repurchase agreements. South Street Securities LLC, a wholly owned subsidiary of South Street Securities Holdings Inc., is a FINRA member broker/dealer primarily focused on the financing of a matched book of U.S. Government and Agency Repurchase Agreements.
Jim Tabacchi, CEO of South Street, said, "This new capital will allow us to meet the growing demand for our services as many traditional lenders in the high-grade lending space have capacity constraints as a result of post-crisis regulatory changes. We look forward to working with Atlas as we build the distinguished provider of specialty financial services."
Bob Diamond, CEO and founding partner of Atlas Merchant Capital LLC, said "We are enthusiastic to partner with South Street and participate in its growth." David Schamis, co-founder and CIO of Atlas Merchant Capital LLC, similarly followed up saying, "South Street offers key services to its customers who are adapting to a changing regulatory environment. We believe the proven model that South Street has created can be scaled significantly in the years ahead." As part of the investment, Mr. Diamond will join the Board of Directors of South Street Securities Holdings Inc.
Steve Carlson, Head of Investment Banking at INTL FCStone Securities, Inc., said, "Atlas Merchant Capital's focus on the emerging opportunities in the financial services sector make for an ideal partnership for South Street's unique and robust lending model."
About South Street Securities Holdings Inc.
South Street Securities Holdings Inc., through its wholly owned subsidiaries, is a leading provider of U.S. Treasury and Agency repo financing to banks, broker dealers, and other capital market participants. The company is a broker-dealer and FICC member running a matched book portfolio that provides low cost financing for high-grade security positions and a source of secure short-term investment for its customers' excess funds. South Street Securities also provides other servicing, collateral management, technology, and administrative services for banks, broker dealers and other capital market participants.
Further information is available at www.southstreetsecurities.com.
About Atlas Merchant Capital LLC
Atlas Merchant Capital LLC was founded in 2013 to participate in compelling market opportunities in the financial services sector. Based in New York, Atlas was founded by Bob Diamond and David Schamis, who together form a complementary partnership with extensive operating and investing expertise across the financial services landscape.
About INTL FCStone Securities Inc.
INTL FCStone Securities Inc. is the wholly owned subsidiary of INTL FCStone Inc., which provides trading, market making, investment banking and corporate finance services to customers around the globe. The investment banking division provides capital raising, mergers and acquisitions advisory, trade finance and bank loan syndication as well as restructuring and corporate advisory services to middle market firms in the natural resources, agriculture, financial institutions, power generation, and real estate sectors. INTL FCStone Securities Inc. is a member of FINRA/SIPC/MSRB.
About INTL FCStone Inc.
INTL FCStone Inc., including its subsidiaries, is a leader in specialized financial services in commodities, securities, global payments, foreign exchange and other markets. Its revenues are derived primarily from financial products and advisory services that fulfill clients' needs and provide bottom-line benefits to their businesses. INTL creates added value for clients by providing access to global financial markets using industry and financial expertise, deep partner and network relationships, insight and guidance, and integrity and transparency. INTL's client-first approach engenders trust, and has enabled INTL to establish leadership positions in a number of complex fields in financial markets around the world.
Further information on INTL FCStone is available at www.intlfcstone.com
CONTACT: INTL FCStone Inc.
Kent Coughlin
615-234-2756
kent.coughlin@intlfcstone.com