Corey Ribotsky (NIR Group)

Onyx and Breezy Helps Animals in Need

 The Onyx and Breezy Foundation is unique among animal welfare organizations. The stated mission of the foundation is “To provide financial support to credible organizations and individuals that benefit the welfare of animals.”

Corey Ribotsky of the NIR Group is a partner in this worthwhile endeavor, which gives financial support to the following activities:

1.    Medical facilities are provided with financial assistance to acquire equipment.

2.    Medical research is funded.

3.    In situations of hardship the foundation will provide medical treatment to animals in need.

4.    Providing funding for other organizations that assist animals and their welfare.

5.    Many other ways which improve and benefit the life of animals

Ribotsky: GM Bailout Deal a PIPE Transaction without a Doubt

 In an article published in June, 2009 on the on-line news magazine Reuters Hedgeworld, Corey Ribotsky of the NIR Group argues forcefully that the recent bailout or the failing mega company General Motors is just a PIPE deal by another name.

But what is a PIPE deal? Let’s take a brief look at this unique form of financing which is becoming more and more popular as the usual sources of capital get scarcer in our distressed economy.

The acronym PIPE stands for private investment in public equity.  PIPE financing can be a good choice for small to medium-sized publicly traded companies that need to raise capital but want to avoid the expense and regulatory issues which are necessary for making a secondary offering.

The private investment company buys the stock of the publicly traded company at a discount.

PIPEs come in two flavors, traditional and structured. Traditionally a PIPE allowed the private investor to purchase stock in the publicly traded company. This type of equity financing is the direct kind.

The structured PIPE is a bit more complex, and involves the publicly traded company issuing convertible debt. This type of PIPE is less risky for the private investor and does not reduce by dilution the value of the publicly-traded company’s stock, or outstanding shares immediately.

Ribotsky Hopeful that PIPE Trade Group Will Educate Public Sector

One of the goals of the trade group Corey Ribotsky and the NIR Group plan to

establish for the PIPE investment space is education. Currently the U.S. government is using the special PIPE structure of financing everyday so that more people are becoming acquainted with this investment strategy.

Ribotsky is pleased that everyday more information about PIPEs become available to the benefit of the public, but he is also worried that some of the information is distorted. Ribotsky is hopeful that his trade group will provide the essential repository for accurate and useful information so that people can better understand just how PIPE transactions work.

Corey Ribotsky Creating PIPE Space Trade Group

The creation of a trade group for the PIPE investment space has been something Corey Ribotsky has been discussing through the years with others involved in this special form of investing.  Ribotsky envisions a group whose mandate will be not only educating the public on different aspects of PIPE investing, but to also, become involved somewhat in lobbying efforts.

The group is planning to provide vital information and other resources on PIPE investing, as well as education potential investors and anyone who is looking to obtain this type of financing.

Corey Ribotsky Initiates Trade Group

Corey Ribotsky told Opalesque on-line magazine that his investment firm, the NIR Group, is going to play a key role in the formation of a trade group for those involved in the PIPE investment space.  Included in this unique trade group will be all those involved in the PIPE space, including investors, service providers like lawyers, accountants and others.

Although the NIR Group itself tends to focus on micro to small cap companies the trade group will extend membership also to those in the mid to large cap market. Those involved in the larger cap markets will include placement agents, broker dealers, investment banks and more.

Corey Ribotsky Establishing PIPE Trade Group

In a discussion on what a trade group for PIPE investment space would look like, Corey Ribotsky of the NIR Group described education to be a large part of the mandate of this group. One of the initiators of the idea of a PIPE trade group, Ribotsky, Managing Member of the NIR Group, explained that in addition to the usual members of the trade group such as investors in PIPEs as well as service providers of various types such as lawyers and accountants, there will also be members whose job will be to educate the public and others about the PIPE investment strategy.

It is hoped that this trade group will be able to provide information and other resources on what PIPE investing is all about, including educating potential investors and anyone who might be interested in securing this type of financing.

Since lately the government has been using PIPE structures frequently there has been a lot more information about PIPEs in the public arena. However, sometimes this information is presented in a distorted fashion. Since at the moment there is no centralized place from which accurate information originates there is a high probability that distortion will ensue. Because of this problem Ribotsky believes education is a high priority for the PIPE trade group of the near future with the goal that all sides of PIPE transactions understand exactly how this specialized strategy works.

Evaluating Mortgage Risk with NIR Credit Partners

A division of the NIR Group, NIR Credit Partners, headquartered in North Carolina, has developed a unique tool for evaluating illiquid mortgage related loans and securities.

Mortgage risk is assessed over a large range of securities and loans, using loan-level data, in combination with forecasted home cost scenarios which can even be customized to reflect whatever the clients views might be regarding the present state of the economy and the housing market.

This essential tool for analytic valuation is now offered to various types of investors, including money managers, hedge funds, banks, pension plans and other types of institutional and alternative investors.

NIR Credit Partners Offers Unique Service

In March of this year the NIR Credit Partners LLC, one of the divisions of the NIR Group, expanded its portfolio valuation services for mortgage-backed securities and mortgage loans. This new service gives institutional investors the ability to analyze in an in-depth and highly customized way illiquid mortgage-related loans and securities.

According to Joe Parish, co-founder of NIR Credit Partners, “Given the ongoing market turmoil, many institutional investors are searching for better independent tools to value these assets and related risk. Due to a high level of demand, we are expanding this service as part of our core capabilities.”

NIR Credit Partners: A Division of NIR Group

NIR Credit Partners, which launched a unique service last March to evaluate mortgage-related loans and securities, is a division of the NIR Group, headed up by Corey Ribotsky in Roslyn, New York.

Located in North Carolina, NIR Credit Partners is managed by Joe Parish and Scott Shannon, co-founders of the division approximately four years ago. Between the two managing partners they have over 48 years of experience in corporate and structured finance.

Before coming on board with the NIR Credit Partners, Shannon and Parish were founders of the Asset Securitization Division (ASD) within the Structured Products Group at Wachovia Securities.

NIR Group Names New Portfolio Head:David Ratzker

David Ratzker, newly appointed as a head portfolio manager by Corey Ribotsky of the NIR Group, will head up the structured equity investments strategies. Included among the many public companies that have raised capital through these specialized structures are PNC, SunTrust, DryShips, AMR Corp and Zions Bancorp.

Before coming on board at NIR Ratzker was at Yorkville Advisors. In his capacity there he structured over $300 million of private equity transactions on behalf of publicly traded corporations. These companies represented a wide variety of sectors of industry; including energy, clean technology, and telecommunications.

Mr. Ratzker is also a member of the Finance Committee at the American Council on Renewable Energy. He is a graduate of Yeshiva University with a Bachelor of Science.