SAN FRANCISCO, CA (Marketwire – May 26, 2009) – Thomas Weisel Partners Group, Inc. (NASDAQ: TWPG), a global growth-focused investment bank, today announced that Thomas Weisel Asset Management LLC (“TWAM”) teamed-up to form an alliance with IdealRatings, Inc., a leading provider of Shariah compliant and socially responsible investment services that provide transparency to portfolio managers to invest in Shariah compliant instruments.
The alliance will create funds and separately managed accounts to invest in small and mid-cap U.S. companies while reflecting each client’s individual portfolio principals of Shariah compliance.
Through an initial investment by TWAM, IdealRatings, Inc. will manage the process of achieving individually tailored Shariah compliance for TWAM clients, including supplying software, research tools and scholar support. IdealRatings, Inc. and TWAM will target Shariah focused investors, Islamic institutions and international family offices. “We are very excited to announce this expanded capability of our asset management platform to include Shariah compliant investors. Ideal Ratings, Inc. has established a proven track record of delivering top-rated technology geared towards screening stocks to be Shariah compliant. This opportunity presents great potential to facilitate Middle Eastern investments in the U.S. equity markets,” commented Thomas W. Weisel, Chairman and CEO of Thomas Weisel Partners. “Ideal Ratings, Inc. is pleased to team-up with TWAM and bring its complete and accurate Shariah compliant universe and services to the established TWAM platform,” said Mohamed Donia, CEO of IdealRatings, Inc.
About Thomas Weisel Partners Group, Inc.Thomas Weisel Partners Group, Inc. is an investment bank, founded in 1998, focused principally on the growth sectors of the economy. Thomas Weisel Partners generates revenues from three principal sources: investment banking, brokerage and asset management. The investment banking group is comprised of two disciplines: corporate finance and strategic advisory. The brokerage group provides equity and convertible debt securities sales and trading services to institutional investors, and offers brokerage, advisory and cash management services to high-net-worth individuals and corporate clients. The asset management group consists of: private equity, public equity and distribution management. Thomas Weisel Partners is headquartered in San Francisco with additional offices in Baltimore, Boston, Calgary, Chicago, Denver, New York, Portland, Silicon Valley, Toronto, London and Zurich. For more information, please visit www.tweisel.com.