Raymond James Financial Acquires Gunderson Dettmer Client SumRidge Partners
Gunderson Dettmer represented client SumRidge Partners, a financial services company, in its acquisition by Raymond James Financial, a diversified holding company providing financial services to individuals, corporations and municipalities. SumRidge Partners is a fixed income market maker specializing in high yield and investment grade corporate bonds, municipal bonds, institutional preferred securities, emerging market bonds, and non-agency mortgage backed securities. The acquisition of SumRidge into Raymond James Financial’s Fixed Income Capital Markets division will add an institutional market-making operation with sophisticated trading technologies and risk management tools.
In the announcement of the acquisition, CEO of Raymond James Paul Reilly said, “SumRidge has a people- and service-driven culture, similar to Raymond James, and I’m pleased they are now officially part of our firm. Adding SumRidge and its innovative institutional market-making operation and sophisticated trading technologies to our Fixed Income Capital Markets division is another example of our commitment to serving advisors and clients through industry-leading technology.”
The Gunderson Dettmer deal team was led by corporate partner Rich Hesp and included corporate partner Nevin Fox and corporate associates Laura Stoffel, Gabriella Stearns, John Maciejewski, and Ali Blum, Tax/Fund partner Mark Foster and associate Morgan Otway, executive compensation partner Jim Hauser and associate Chris Shin, and Tech/IP associate Rithika Kulathila.