BTIG LLC Announces Investment by Goldman Sachs

SAN FRANCISCO, CA. – BTIG LLC, a broker dealer specializing in equity trading and brokerage services, announced today that The Goldman Sachs Group, Inc. (NYSE: GS) has made an investment in the company. BTIG will continue to operate as a fully independent firm, majority-owned by its employees.

A BTIG spokesman said that the proceeds from Goldman Sachs’s investment are expected to be used in part to facilitate the company’s ongoing growth plans. BTIG continues to expand in the US and is currently building out significant trading capabilities in strategic international locations.

“The investment by Goldman Sachs marks a significant milestone for BTIG. We formed BTIG knowing that changes in the brokerage industry could create an opportunity for a high-touch customer service oriented firm to succeed,” said Scott Kovalik, Co-founding Partner of BTIG.

“This investment will assist us in expanding our businesses and deploying our quality service model to a broader base of clients,” said Steve Starker, Co-Founding partner of BTIG.

“As a leading execution broker, BTIG is fast becoming one of the most recognized agency execution firms helping institutional investors source liquidity to implement their trading decisions. We are pleased to invest in BTIG’s diverse client-focused platforms” said Philip Hylander, a Managing Director at Goldman.

Terms of the transaction were not disclosed.

About BTIG
BTIG is a brokerage firm founded in 2002. The firm has grown steadily from 5 employees to approximately 175 today. BTIG serves nearly 1,000 institutional customers and offers services from four divisions: Institutional Trading, Prime Brokerage, Outsource Trading and Direct Market Access.

About Goldman Sachs
Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, financial institutions, governments and high net worth individuals. Founded in 1869, it is one of the oldest and largest investment banking firms. The firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers throughout the world.

Tom Butler, Butler Associates Public Relations
PHONE: (212) 685-4600, Ext 6982 or Cell: (203) 253-1050
E-Mail: [email protected]


Stu Miller
PHONE: (212) 685-4600, Ext 6980 or Cell: (908) 246-0852
E-Mail: [email protected]

Goldman Sachs:
Ed Canaday
PHONE: (212) 357-0005
E-MAIL: [email protected]