JonesTrading Establishes Private Markets Group
Taps Brian Cilento as Head
(Los Angeles and New York: April 15, 2020) JonesTrading Institutional Services LLC (“JonesTrading”) continues its expansion of services to institutions and has established a Private Markets Group in response to market demand. The Group will build on JonesTrading’s successes in relationship-based transactions, for its 1,500 institutional clients, now extending to Private Equity, Venture Capital, and other private entities.
Private Markets are emerging as critical to financial services, though overall professional capabilities in portfolio company transactions have been limited. JonesTrading will meet this underserved need.
With companies staying private longer and with some opting solely for a private financing route, there is increasing demand in the secondary market for such private securities transactions. Currently, there is over $1.8 trillion of aggregate market cap in venture-backed companies with a market cap of $500 million or more. The addressable market is expected to have a total market cap of more than $2.0 trillion when accounting for companies worth $250mm to $500mm. JonesTrading has named Brian Cilento as Head of its Private Markets Group to resource the new initiative. Mr. Cilento joined JonesTrading in 2019 as Product Sales Specialist. He has over two decades’ experience in buyside trading. He served as Head of Trading at Falcon Edge Capital, responsible for global execution for all products including equity, forex, credit, derivatives, and rates. Previously he held senior trading positions at Iridian Asset Management, Accipiter Capital, George Weiss, Pequot Capital, and Dawson Samberg. Alan Hill, CEO of JonesTrading, said: “The addition of Private Market transaction capabilities reflects our commitment to providing liquidity expertise for our institutional clients across multiple asset classes. Brian Cilento comes to the role with a deep understanding of JonesTrading’s relationship model – a model that is critical for success in this space.”
Brian Cilento, Head of Private Markets, JonesTrading said: “The amount of capital in the Private Markets and the exponential growth potential provides opportunities for our clients to participate as they seek to diversify their assets and secure returns. We are certain that this market is becoming a viable parallel for investors to the public markets – certainly not to replace them, but to offer an alternative.”
About JonesTrading
JonesTrading Institutional Services LLC is the leading global equities and derivatives broker-dealer for institutions. Since 1975 JonesTrading's sole focus has been creating liquidity for institutional and corporate clients on an unconflicted basis. The ability to provide a secure, trusted platform connecting a diverse group of market participants enables the firm to unlock liquidity, providing best-quality execution for larger and more complex trades. Member FINRA and SIPC.