With companies staying private longer there is increasing demand in the secondary market for private securities transactions. JonesTrading is the only true solution for institutional customers. The Market is Large: Today, there is over $1.8 trillion of aggregate market cap in venture-backed companies with a market cap of $500 million or more, so the addressable market is expected to have a total market cap of more than $2.0 trillion when accounting for companies worth $250mm to $500mm. The Market is Growing: The average exit time for private companies continues to grow as fewer companies go public.
Brian Cilento, Head, Private Markets Group
Brian Cilento heads JonesTrading’s Private Markets Group. The Group trades private instruments for JonesTrading’s institutional network, and Private Equity, Venture Capital, and other private entities.
Mr. Cilento joined JonesTrading in 2019 as Product Sales Specialist. He has over two decades’ experience in buyside trading. He served as Head of Trading at Falcon Edge Capital, responsible for global execution for all products including equity, forex, credit, derivatives, and rates. Previously he held senior trading positions at Iridian Asset Management, Accipiter Capital, George Weiss, PequotCapital, and Dawson Samberg.
- This market is highly complicated for trading and settlement given the operational and legal requirements involved for every transaction which results in high barriers to entry for firms not dedicated to high touch trading.
- There is no connectivity between marketplaces, liquidity sources, and market participants thus making JonesTrading the ideal single touch point for the institutional client that does not have the bandwidth to source liquidity from thousands of potential counterparties.
- JonesTrading can access all potential liquidity sources while maintaining anonymity for its clients and creating price competition for all orders.
- JonesTrading does not compete with its clients so clients never have to worry about JonesTrading taking advantage of their trading intentions.
- The Private Markets Department is headed by Brian Cilento.
- The Private Markets Department centralizes all indications of interest and orders procured by the JonesTrading sales traders from over 1,500 institutional clients.
- The Private Market Department has over 80 years of combined experience in trading.
- Over the last five years JonesTrading has crossed an approximate average of $15.6B of notional value in North American public markets.