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Investment Bank
FINANCE | Asset/Financial Management
rbccm.com

Investments

62

Portfolio Exits

28

Partners & Customers

10

About RBC Capital Markets

RBC Capital Markets is a financial services company.

Headquarters Location

3 World Financial Center 200 Vesey Street

New York, New York, 10281,

United States

800-759-4029

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Latest RBC Capital Markets News

Close Brothers shares collapse after it scraps dividend over financial probe fears

Feb 16, 2024

Click the thumbs up > Shares in Close Brothers have collapsed after the merchant bank scrapped dividends this year as a precaution against potentially huge compensation payouts. The move follows last month’s decision by The Financial Conduct Authority (FCA) to review discretionary commission arrangements agreed between car finance firms and dealerships. The prospect of huge compensation costs also forced the banker - whose car finance lending through its Close Brothers Motor Finance arm makes up around fifth of its loan book at £1.95 billion – to warn that it was reviewing whether it would even issue shareholder dividends in 2025. The FCA said that it is reviewing historic claims of unfair costs on discretionary commissions and will ensure consumers receive compensation if it uncovers evidence of widespread misconduct. In an unscheduled trading update, Close Brothers said that the “significant uncertainty about the outcome of the FCA’s review, and the timing, scope and quantum of any potential financial impact on the group cannot be reliably estimated at present”. Analysts have pegged the hit to the motor finance sector could be significant with Close Brothers and Lloyds particularly exposed. RBC Capital Markets suggested anywhere between £6bn and as much as £16bn, having upgraded its estimates following a recent FCA webinar on the issue. It estimated that Close Brothers could end up paying £200m in compensation while other analysts have pegged it at between £150m-£180m. Close Brothers explained: “While there is no certainty regarding any potential financial impact as a result of the FCA’s review, the Board recognises the need to plan for a range of possible outcomes.” “The Board considers it prudent for the group to further build capital strength, while supporting its customers and business franchise.” Potentially the worst casualty is Lloyds Banking Group, Black Horse's parent company and the UK's biggest motor finance lender, which could have to pay out around £2bn in compensation, according to RBC Capital Markets. Lloyds has scheduled the release of its 2023 full year results on February 22. Historically, DCAs permitted vehicle dealerships and brokers to choose the interest rate on a car buyer's finance agreement, incentivising them to charge customers higher rates. They were outlawed three years ago, but many consumers have lodged complaints with  regulators claiming their requests for compensation have been unfairly rejected. Deputy editor AM deputy editor Aimée Turner has been a specialist B2B editor and journalist covering the international transportation sector for more than 20 years. She has specialised in the significant safety, regulatory, and environmental issues that impact advanced technology businesses in the pursuit of more efficient, safer and sustainable transportation modes.

RBC Capital Markets Investments

62 Investments

RBC Capital Markets has made 62 investments. Their latest investment was in Capstone Copper as part of their PIPE on February 08, 2024.

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RBC Capital Markets Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

2/8/2024

PIPE

Capstone Copper

$264.52M

Yes

2

11/28/2023

Loan

St. Modwen

$667.27M

Yes

3

8/28/2023

Line of Credit

Tecta America

$20M

No

2

8/28/2023

Loan

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$99M

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10

12/6/2022

Debt

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$99M

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10

Date

2/8/2024

11/28/2023

8/28/2023

8/28/2023

12/6/2022

Round

PIPE

Loan

Line of Credit

Loan

Debt

Company

Capstone Copper

St. Modwen

Tecta America

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Amount

$264.52M

$667.27M

$20M

$99M

$99M

New?

Yes

Yes

No

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Co-Investors

Sources

2

3

2

10

10

RBC Capital Markets Portfolio Exits

28 Portfolio Exits

RBC Capital Markets has 28 portfolio exits. Their latest portfolio exit was Cogency Software on June 02, 2015.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

6/2/2015

Acquired

$99M

1

10/25/2014

Acquired

$99M

3

1/12/2012

Asset Sale

$99M

1

5/10/2011

Acq - Fin

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$99M

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0

1/5/2011

Acquired

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$99M

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0

Date

6/2/2015

10/25/2014

1/12/2012

5/10/2011

1/5/2011

Exit

Acquired

Acquired

Asset Sale

Acq - Fin

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

1

3

1

0

0

RBC Capital Markets Partners & Customers

10 Partners and customers

RBC Capital Markets has 10 strategic partners and customers. RBC Capital Markets recently partnered with Ronald McDonald House Charities on December 12, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

12/19/2022

Partner

United States

Marking a Million Pound Milestone with Ronald McDonald House Charities UK.

The partnership between RBC Capital Markets and Ronald McDonald House Charities is truly global and growing year on year .

1

6/6/2022

Partner

Canada

Ninepoint enters exclusive partnership with RBC Capital Markets for the launch of new defined income strategy

`` We are very pleased to enter into this unique partnership with RBC Capital Markets '' commented John Wilson , Co-CEO and Managing Partner at Ninepoint Partners LP .

3

6/6/2022

Partner

Canada

Ninepoint enters exclusive partnership with RBC Capital Markets for the launch of new defined income strategy :: Ninepoint Partners LP

`` We are very pleased to enter into this unique partnership with RBC Capital Markets '' commented John Wilson , Co-CEO and Managing Partner at Ninepoint Partners LP .

1

4/14/2022

Partner

United Kingdom

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10

5/29/2018

Client

United States

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10

Date

12/19/2022

6/6/2022

6/6/2022

4/14/2022

5/29/2018

Type

Partner

Partner

Partner

Partner

Client

Business Partner

Country

United States

Canada

Canada

United Kingdom

United States

News Snippet

Marking a Million Pound Milestone with Ronald McDonald House Charities UK.

The partnership between RBC Capital Markets and Ronald McDonald House Charities is truly global and growing year on year .

Ninepoint enters exclusive partnership with RBC Capital Markets for the launch of new defined income strategy

`` We are very pleased to enter into this unique partnership with RBC Capital Markets '' commented John Wilson , Co-CEO and Managing Partner at Ninepoint Partners LP .

Ninepoint enters exclusive partnership with RBC Capital Markets for the launch of new defined income strategy :: Ninepoint Partners LP

`` We are very pleased to enter into this unique partnership with RBC Capital Markets '' commented John Wilson , Co-CEO and Managing Partner at Ninepoint Partners LP .

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Sources

1

3

1

10

10

RBC Capital Markets Team

81 Team Members

RBC Capital Markets has 81 team members, including current Chief Compliance Officer, David Lang.

Name

Work History

Title

Status

David Lang

BMO Capital, and Ontario Securities Commission

Chief Compliance Officer

Current

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Name

David Lang

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Work History

BMO Capital, and Ontario Securities Commission

Title

Chief Compliance Officer

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Status

Current

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