Skip to Main
abstract technology image with dark blue background and purple gradient

The Latest Deals, News, and Insights from Oppenheimer Investment BankingHere's The Deal

2021: A Year Marked with Numerous Milestones, Expansion, and Continued Leadership

Momentum Continues Across All Oppenheimer Investment Banking Sectors

For the first nine months (ending September 30, 2021), Oppenheimer participated in 110 transactions raising $44.8 billion of which 53 were bookrun deals, raising $14.8 billion. For Oppenheimer, this resulted in record investment banking revenue in both the third quarter and the first nine months of the year.

More importantly, these results reflect the robust demand for capital markets services and execution. From our superior trading capabilities, to our insightful M&A advisory work, to our experienced deal structuring, as well as our highly-ranked research analysis team – Oppenheimer is well positioned to continue to provide the right solutions that meet each of our clients’ needs.

Investment Banking In the News

OPY Acquisition Corp. I is Open for Business

The Oppenheimer Investment Banking division is excited to announce the successful capital raise of $126.5 million for OPY Acquisition Corp. I (OPY I), the Oppenheimer-sponsored SPAC focused on life sciences, medical technology, and healthcare services.

The SPAC has launched with a highly experienced management team and board with deep relationships and experience across the healthcare sector leaving it well-positioned for success. Now, the real work begins as the team looks to find and acquire healthcare enterprise that can deliver long-term value creation to shareholders. To help along the way, OPY I will have access to the full resources of Oppenheimer behind it including the healthcare investment banking team, equity capital markets, and a team of SPAC specialists.

Sector Highlights


Healthcare Banking Expands to Meet the Needs of Clients, Driving Strong Transaction Momentum

This year has been a breakout period for Oppenheimer’s Healthcare Investment Banking Team as they continue to move upstream across a wide variety of measures. Just like 2020 and 2019 before it, 2021 has shaped up to be a very strong year with book run deal volume up 24 percent year-over-year with average book run deal size up 47 percent.

In all, the team closed 60 financings year-to-date for proceeds of more than $5 billion. Over the course of the year, they added a number of key individuals to help provide a broader range of services and unparalleled value to both companies and investors. The team recently added Jonathan Fassberg as vice chair with extensive experience in corporate strategy and very strong buy side relationships, and Don Ritucci as head of healthcare M&A with substantial transaction experience.

In addition, Oppenheimer’s highly productive healthcare research group now covers more than 200 companies over a broad range of healthcare verticals including biotech, services, medical devices, diagnostics and digital health. The research team continues to add value through informed and differentiated viewpoints while sharing Oppenheimer’s strong commitment to clients and the healthcare industry.

Healthcare M&A is On Track for a Record Setting 2021

Oppenheimer’s Healthcare Services Group sets a record as the rate of healthcare mergers and acquisitions activity increased significantly in 2021. Since January 2020, the Healthcare Services Group has closed 15 M&A transactions valued at approximately $3.3 billion – an average of $220 million per deal. Most of the deal activity is taking place in the physician sector where the Healthcare Services Group has now completed a total of 25 physician partnerships.

digital technology

The Tech Boom Continues

For the technology industry, 2021 has been a year of record capital markets activity. At Oppenheimer, momentum in the technology advisory business continued to strongly complement the Technology Investment Banking Group’s underwriting business. The group advised on 12 M&A transactions worth a total of $9.6 billion, and revenue is firmly on track to triple year-over-year after a record-breaking 2020. Additionally, the team was proud to have closed 82 financings, representing more than $59 billion in capital, to fund the growth and liquidity needs of the companies that are redefining how we learn, work, eat, and play.

Most notably, the pace of Tech IPOs continued to set records with Oppenheimer’s Technology team bringing 40 young companies public through IPOs, direct listings, and SPACs, significantly expanding our client base and creating new long-term investment opportunities for our institutional investor and wealth management clients. Significantly, ChargePoint Inc. and Valens Semiconductor, Oppenheimer’s first two Private Market Opportunities investments, took advantage of the SPAC boom to raise large amounts of growth capital and enter the public markets – garnering market capitalizations of $8 billion and $1 billion respectively and earning significant markups to the Oppenheimer retail clients who invested in those funds.

Debt Capital Markets Group Reaches Important Milestones

The DCM Group is a global business that generates most of its revenue outside the US. The group has closed deals in Latin America/Caribbean, Asia, and Eastern Europe. Over the last year, they have achieved a number of important milestones, including closing deals overseas and hiring new talent.

Recently, the DCM group closed their first deal in Eastern Europe, a $150 million bond for Eleving Group, a non-bank finance company headquartered in Latvia. Over the summer, they closed a $300 million benchmark bond for Inversiones Atlantida, a bank holding company based in Honduras.

In addition, the group acted as Joint Lead Manager on a $920 million bond for Nesco Holdings in 2021.

Last year, Guillaume Petitgas, a Managing Director joined the team and is based in London. Guillaume previously worked at HSBC and Merrill Lynch. He covers CEEMEA and works closely with Farhod Inogambaev and Igor Skochillo in New York on Central Asia and Eastern Europe.

digital globe
woman shopping

Exciting Developments for the Global Consumer Investment Banking Group

In 2021, the team has advised on several U.S., European, and cross-border M&A transactions in the bakery and dairy sectors exceeding $1.3 billion in value including the sale of Decopac, the leading U.S. cake decoration business to Private Equity firm Kohlberg & Co., the sale of HEMA Bakeries, the leading Dutch bakery platform to BACU, and the sale of Leerdammer, the leading pan European branded cheese business by Bel Group to Lactalis Group. In addition, the team had a number of transactions where they have had Co-Manager roles in IPOs including Sweetgreen, Lifetime Fitness, and Oatly. The Consumer team has also been executing cross-border capital raises, SPAC advisory, and ATM equity offering transactions in its CBD/Cannabis segment.

The Consumer team continues its expansion and build-out of the team with the appointment of Jean-Marie Gianni as Managing Director based in New York with primary focus on the Health & Beauty and Personal Care markets. Mr. Gianni was previously with Moelis as a senior member of their practice in these sectors. This follows the appointment of James Murray, as managing director in our London office at the end of 2020 to further expand the European and cross-border consumer franchise.

Given the ever-increasing focus on the importance of Personal Care and Health & Wellness, as well as Food & Beverage in the consumer space, Oppenheimer is well-positioned to provide its corporate and private equity clients with seamless global coverage across every segment.

Public Finance Setting New Records for Volume of Lead-Managed Activity

Through the first 10 months of 2021, Public Finance has surpassed its record volume of lead managed activity set in 2020; the group’s $2.56 billion of sole, senior-managed or private placement activity for 2021 year-to-date is 24 percent greater than its total volume for fiscal year 2020. The average transaction size for such deals has increased over 10 percent from 2020 levels to $30.1 million.

The pace of activity is department-wide, driven by an increasing number of large, senior managed mandates. In October 2021, Oppenheimer sole managed its largest ever municipal bond offering, a $346.1 million taxable federal lease revenue bond issued to finance a portfolio of four facilities leased to the United States General Services Administration (consisting of 3 FBI Field Offices and a National Archives storage facility). The group’s $18.3 million bond offering for the Four Corners County Water & Sewer District in Bozeman, MT included the first ever issuance of insured special assessment bonds in the state of Montana. The performance also underscores the variety of Oppenheimer’s issuer-client relationships: in October 2021, the group senior managed its first ever bond offering for the City of New Haven, CT and 22nd bond offering for the Town of Lexington, SC. Oppenheimer’s record performance is attributable to expansion into new sectors (federal lease and utility revenue) and new geographies (California and Michigan), as well as continuing strong performances in core regions such as the Northeast, Texas, and Illinois.

water and sewer

Conference Insights

FINANCIAL INSTITUTIONS GROUPFIG Plants 4,000 Bulbs for Battery Park

Recently, Oppenheimer’s FIG team volunteered through The Battery Conservatory to aid in the landscaping efforts of a newly designed children’s play area at Battery Park. A not-for-profit organization, The Battery Conservancy was established in 1994 to rebuild and update The Battery following a period of decline in the late 20th century. The conservancy works to enhance the area with a renewed vision for New York’s first waterfront park.

Read more

Notable Transactions

Eleving Group tombstone
Sole Bookrunner and Lead Manager on Eleving Group's Senior Secured Notes
Read more Sole Bookrunner and Lead Manager on Eleving Group's Senior Secured Notes
CreativeLive Inc. and fiverr tombstone
Exclusive Financial Advisor to CreativeLive Inc.
Read more Exclusive Financial Advisor to CreativeLive Inc.
iM Global Partner tombstone
Exclusive Financial Advisor To iM Global Partner
Read more Exclusive Financial Advisor To iM Global Partner

A Few Oppenheimer Analysts' Media Appearances

Areas of Coverage

Our Consumer and Retail Team draws on its extensive domain knowledge and transaction execution experience to advise our consumer and retail clients on strategic matters and finance their growth.

Learn more consumer

From oil and gas exploration and discovery, all the way through to household electric consumption, Oppenheimer’s Energy Investment Banking group pinpoints key areas of growth opportunity within the vast energy sector.

Learn more Energy

Oppenheimer’s Financial Institutions and Real Estate Team is committed to delivering tailored investment banking products and services to our clients throughout their lifecycle.

Learn more Financial Institutions

Oppenheimer’s Healthcare Investment Banking Group is comprised of dedicated teams focused on the life sciences, medical technology, and healthcare services sectors.

Learn more Healthcare

Since 1992, Oppenheimer’s Rental Services Investment Banking Team has executed highly successful transactions for many of the leading publicly-traded, private equity-backed and/or entrepreneurial, family-owned rental services businesses.

Learn more Rental Services

Technology influences almost every aspect of our daily lives, from how we work to how we communicate. As technology evolves at breakneck speed, Oppenheimer helps technology companies finance their growth through strategic advisory services.

Learn more Technology

To help logistics companies keep pace with ever-changing markets, Oppenheimer’s Transportation and Logistics Investment Banking Team offers specialized transactional and financial advisory services.

Learn more Transportation and Logistics


This notice is provided for informational purposes only, and is not intended as a recommendation or an offer or solicitation for the purchase or sale of any security or financial instrument. Nothing contained herein shall constitute an offer or solicitation to buy or sell any securities discussed herein in any jurisdiction where such offer or solicitation would be prohibited.

This notice may contain statistical data cited from third-party sources believed to be reliable, but Oppenheimer & Co. Inc. does not represent that any such third-party statistical information is accurate or complete, and it should not be relied upon as such. All market prices, data and other information are not warranted as to completeness or accuracy and are subject to change without notice.

2021 Oppenheimer & Co. Inc. Transacts Business on all Principal Exchanges and Member SIPC 3951093.1