The Cowen Group herds its clients' investments in the right direction. The firm, along with its subsidiaries, offers alternative investment management, research, investment banking, and sales and trading services. Its Ramius arm handles alternative investment management and has some $9 billion of assets under management. Another subsidiary, Cowen and Company, represents the firm's investment banking and brokerage practice, which mainly entails strategic advisory and corporate finance services for small to midsized companies. Cowen Group acquired LaBranche & Co. in 2011.