Chatham Financial acquires London-based JCRA Group
- November 13, 2019
Chatham Financial announced today that it has acquired the JCRA Group, significantly expanding the firm’s presence in Europe to create a global powerhouse in financial risk management solutions.
Chatham and JCRA specialize in providing debt and derivatives solutions to commercial real estate, private equity, infrastructure, financial institutions, and corporate clients. Chatham and JCRA collectively serve over 3,000 clients and advise on more than 20,000 transactions with a notional amount in excess $700 billion each year. The merged firm will lead the industry in capital markets expertise, transaction volume, and technology — providing clients access to the data, tools, and advice they need to manage financial risk.
“Clients of both firms will benefit from our enhanced ability to manage their exposure to capital market risks and innovate alongside them,” said Brian Conly, Managing Partner, Global Head of Private Equity & Infrastructure, and Co-Head of Europe. “Chatham’s expanded European team will continue to deliver best-in-class trade execution while helping clients navigate rapidly evolving markets, from LIBOR replacement to Brexit.”
With decades of experience helping clients manage capital market risk, the caliber of the Chatham and the JCRA teams and their deep expertise will create an unparalleled advisory practice. With almost 700 employees, the combined firm will continue to focus on providing interest rate, foreign currency, inflation, and commodity hedging services, hedge accounting, valuation, and debt management solutions—all backed by Chatham’s proprietary technology platform.
“One of Chatham’s purposes is to help make markets transparent, accessible, and fair for all market participants. We’re excited about how, together with JCRA, we can have an even greater impact,” said Clark Maxwell, Chief Executive Officer of Chatham Financial. “For almost 30 years, we have gained vast experience from the volume and variety of projects and transactions we’ve managed. Our increased breadth of expertise will further strengthen our ability to tackle any challenge our clients need to solve.”
JCRA’s Chief Executive Officer, Jackie Bowie, will join Chatham as Co-Head of Europe. “We’re enthusiastic about the future,” said Bowie. “The combined team’s knowledge of the European markets, now supported by Chatham’s leading technology platform, will raise the bar for what clients expect when transacting in the debt and derivative markets.”
This transaction represents a successful exit for JCRA’s external investor, Connection Capital. The integrated firm will continue to be independent and 100% employee owned, serving clients from offices in London, Singapore, Melbourne, Toronto, Denver, Krakow, and Kennett Square, Pennsylvania.
About Chatham Financial
Chatham Financial is the largest independent financial risk management advisory and technology firm. A leader in debt and derivative solutions, Chatham provides clients with access to in-depth knowledge, innovative tools, and an incomparable team of over 600 employees to help mitigate risks associated with interest rate, foreign currency, and commodity exposures. Founded in 1991, Chatham serves more than 3,000 companies across a wide range of industries — handling over $700 billion in transaction volume annually and helping businesses maximize their value in the capital markets, every day. To learn more, visit chathamfinancial.com.
JCRA is an independent financial risk advisor specialising in hedging and debt advice. With 30 years’ experience in structuring and advocating for competitive pricing in derivative products, JCRA designs financial hedging solutions and provides debt advice globally to clients in real estate, project finance, infrastructure, private equity and social housing, as well as corporates. JCRA was named Risk Management Advisory Firm of the Year at the GlobalCapital Global Derivatives Awards 2019. jcragroup.com.
This material has been created by Chatham Financial Europe, Ltd. and is intended for a non-U.S. audience. Chatham Financial Europe, Ltd. is authorised and regulated by the Financial Conduct Authority of the United Kingdom with reference number 197251.
Our featured insights
Achieving automation and efficiency in treasury
Treasury teams can optimize the hedging and hedge accounting process through new technology tools and operating workflows. Whether improving exposure forecast visibility, achieving a faster close process, or improving platform integration, many opportunities exist for treasury to drive efficiencies.
U.S. April employment data disappoints amidst concern for inflation
The U.S. gained 266K jobs in April, falling significantly short of survey expectations of +1M jobs, while Treasury Secretary Janet Yellen indicated that interest rates may need to rise.
First BSBY swap executed
As non-SOFR-based alternatives to LIBOR continue to jockey for position, Bank of America and JPMorgan announced on Monday that they executed the first swap tied to the Bloomberg Short Term Bank Yield Index (BSBY) on the previous Friday. The BSBY-linked swap was a $250 million one-year basis swap with the other leg tied to SOFR.
USD LIBOR transition: credit-sensitive fallback rates
With more and more talk of various credit-sensitive alternatives to USD LIBOR, we’ve prepared an overview of some of the leading credit-sensitive alternative benchmarks (e.g., AMERIBOR, BSBY, et al.). We discuss what market events led to the current state, provide a comparison of the leading...
£400M sustainable bond issue for PA Housing
A case study of how Chatham advised PA Housing on its first sustainable bond issue, developing a sustainable finance framework and targeting ESG investors.
FASB releases Exposure Draft for Fair Value Hedging Activities – Portfolio Layer Method
On May 5, 2021, the Financial Accounting Standards Board released an exposure draft to enhance and provide clarity on the last-of-layer method. The proposed guidance will further expand the last-of-layer concept to allow multiple layer hedging within the same closed portfolio; utilization of different derivative structures...
Thought leadership for housing associations: A changing credit rating landscape
Credit ratings agencies now rank among the most important financial stakeholders for many housing associations (HAs), influencing relationships with banks, investors, and the Regulator of Social Housing (RSH). Updates to S&P’s methodology, a subtle change in the approach from Moody’s,...
Continued recovery spurred on by key data
Persistent Fed policy, optimistic economic data, and the ongoing recovery from the COVID-19 pandemic buoyed investors about the U.S. economic recovery. Worldwide recovery from the pandemic causes the U.S. dollar to weaken. Commodity prices hit multi-year highs as supply outweighs demand....