Hovde Private Equity Advisors
Hovde Group is a privately held, boutique U.S. investment bank focused exclusively on the financial services sector, providing M&A advisory, capital markets, equity research, and sales & trading services to community and regional banks and institutional investors across all 50 states.
- Company typePrivate
- Founded1987
- HeadquartersIllinois City, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Hovde Private Equity Advisors does
Hovde Group, LLC is a privately held, boutique U.S. investment bank and broker-dealer founded in 1987 and headquartered in Inverness, Illinois (with principal offices in Chicago and an additional ten U.S. locations). The firm is focused exclusively on the financial services sector, with deep specialization in community and regional banks, and its core offering spans four integrated businesses: M&A and strategic advisory investment banking, capital markets (private placements, public offerings, mutual-to-stock conversions, trust preferreds, PIPEs, and stock repurchases), equity research coverage of small and mid-cap banks across all major U.S. regions, and equity sales & trading with market making in nearly 200 financial services stocks. Notable scale signals include over 390 completed transactions with aggregate value exceeding $25 billion over 30 years, more than $3 billion in equity and debt capital raised for financial institutions, and award-winning sell-side analysts (e.g., David Bishop ranked #1 Earnings Estimator for Commercial Banks by Starmine in 2010).
The firm's revenue model is transaction-based across all four streams — investment banking advisory fees, capital markets transaction fees, equity trading and market making revenues, and institutional research/service revenue — with no publicly disclosed pricing. Customer concentration is entirely within financial institutions: primary segments are U.S. community and regional banks (both depository buyers and sellers) and institutional investors accessing Hovde's research, sales, and market-making platform; secondary segments include specialty finance companies, FinTech/TMT firms, and asset/wealth management firms. Distribution is delivered through senior banker relationships, equity sales representatives calling on institutional investors, and a centralized trading desk, complemented by an annual Financial Services Conference, frequent speaking at industry events (Bank Director's Acquire or Be Acquired, Stonier), and earned media through Business Wire, S&P Global Market Intelligence, American Banker and the Wall Street Journal.
Since 2014 the firm has more than doubled in size, opening an equity research and trading platform, expanding into specialty finance (2017), adding asset management advisory, hiring senior depository teams to open a Toledo office (2022) and establish Northeast/Mid-Atlantic leadership (2023), and most recently launching a FinTech and TMT investment banking practice (May 2026). The firm is family-controlled (Steven Hovde as Chairman, Kirk Hovde as CEO and Managing Principal of Investment Banking), SEC-registered and FINRA/SIPC-member, with Hovde Private Equity Advisors formed in 2004 as a separate PE arm and notably the first U.S. PE firm to complete an FDIC failed-bank acquisition in 2009.
Hovde Private Equity Advisors firmographics
Firmographics- Name
- Hovde Private Equity Advisors
- Legal name
- Hovde Group, LLC
- Website
- https://hovdegroup.com
- Company type
- Private
- Founded year
- 1987
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Hovde Group is a privately held, boutique U.S. investment bank focused exclusively on the financial services sector, providing M&A advisory, capital markets, equity research, and sales & trading services to community and regional banks and institutional investors across all 50 states.
- Ownership category
- akta.pro rank
Hovde Private Equity Advisors industry classification
Industry- Product category
- Investment Banking
- NAICS
- Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Portfolio Management and Investment Advice (523940)
- SIC
- Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Co-Investment Aggregators & Multi-Manager Co-Invest Vehicles (FSAHAKAJ)
- akta.pro secondary industry
- Managed Account Platforms (Separately Managed Accounts / Customized Portfolios) (FSAHAKAC)
Keywords
Where Hovde Private Equity Advisors is headquartered
LocationHeadquarters
- HQ city
- Illinois City
- HQ country
- United States
- HQ region
- North America
Offices10 records
Markets served
Hovde Private Equity Advisors business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Investment Banking Fees: Advisory and transaction fees from M&A advisory, mergers, acquisitions, divestitures, valuations, fairness opinions, and strategic advice to financial institutions
- Capital Markets Fees: Fees from private placements, public offerings, rights offerings, mutual-to-stock conversions, trust preferred securities, PIPE transactions, and other capital raising strategies
- Equity Trading and Market Making: Trading revenues from market making activities in nearly 200 financial services company stocks, execution services, and corporate buyback facilitation
- Equity Research: Research services provided to institutional investors and covered companies
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
Hovde Private Equity Advisors product offering
Product offeringCore offering
Hovde Group operates as a full-service boutique investment bank and broker-dealer providing investment banking advisory, capital markets, equity research, and equity sales & trading services exclusively to financial institutions. The firm advises on mergers and acquisitions, divestitures, valuations, fairness opinions, private placements, public offerings, and other capital raising transactions for community and regional banks, specialty finance companies, asset managers, and FinTech firms.
Product overview
Hovde Group operates as a full-service investment bank providing an integrated platform of investment banking, capital markets, equity research, and equity sales & trading services focused exclusively on the financial services sector. The core offering consists of Investment Banking Services (M&A advisory, strategic advice, valuations) and Capital Markets Services (private placements, public offerings, capital raising). These are supported by Equity Research (award-winning analyst coverage of small/mid-cap banks) and Equity Sales & Trading (market making in nearly 200 financial services stocks). The firm has expanded into FinTech and Technology, Media & Telecommunications (TMT) investment banking, Specialty Finance advisory, and Asset Management advisory services.
Differentiator
Problem solved
Functional benefit
Products and services
- Investment Banking Services M&A and strategic investment banking advisory services focused exclusively on the financial services industry, including mergers, acquisitions, divestitures, valuations, fairness opinions, corporate restructurings, and strategic partnerships for depository institutions.
- Capital Markets Services Strategic capital markets advisory services for banks and financial institutions, including private placements of equity and debt, public offerings, mutual-to-stock thrift conversions, trust preferred securities, PIPE transactions, and stock repurchases.
- Equity Sales & Trading Equity sales and trading services including market making in nearly 200 financial services stocks, primarily small and mid-sized banks, providing liquidity enhancement and execution services. Includes institutional investor relationships and corporate buyback services.
- Equity Research In-depth fundamental analysis and research coverage of small and mid-cap banks nationwide, with award-winning analysts providing macro trend evaluation and actionable investment ideas for institutional investors.
- FinTech and TMT Investment Banking Technology, Media & Telecommunications (TMT) investment banking practice with focus on FinTech, covering financial software, payments, wealthtech, and data and information services.
- Specialty Finance Advisory Advisory services for specialty finance companies including equipment finance firms, asset-based lenders, factoring companies, and non-mortgage consumer lenders on sell-side and buy-side transactions, valuations, and capital raises.
- Asset Management Advisory
Quantifiable outcome
- Over 390 completed transactions valued in excess of $25 billion over 30 years
- +3 more outcomes
Companies that use Hovde Private Equity Advisors
Customer profileNamed customers6 records
Segments5 records
Ideal customer profiles5 records
Hovde Private Equity Advisors technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Hovde Private Equity Advisors partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- BankTech VenturesminorHovde Group sees complementary opportunities alongside BankTech Ventures as part of its expansion into FinTech and technology sectors. The firm views strong alignment between technology and financial technology and its existing financial institutions franchise, including depositories and specialty finance.
Scale indicators5 records
Recent moves8 records
Expansion highlights6 records
Hovde Private Equity Advisors competitors and assessment
Company assessmentBroad incumbents
- Stifel Financial Corp. (Keefe, Bruyette & Woods): Stifel owns KBW, the leading financial-institutions-focused investment bank. It is comparable to Hovde because it competes in FI-focused M&A advisory, capital markets, equity research, and market making, but operates as part of a much larger, diversified broker-dealer platform.
- Piper Sandler (Sandler O'Neill + Partners): Piper Sandler's Sandler O'Neill franchise is the largest and most established advisor to community and regional banks. It is comparable to Hovde because both firms specialize in FIG M&A, capital markets, research, and sales/trading for depository institutions, but Piper Sandler operates at materially greater scale and breadth.
Direct peers
- Performance Trust Capital Partners: Performance Trust is a boutique investment bank that advises depository institutions on M&A, capital strategy, and balance sheet management. It competes directly with Hovde for community and regional bank mandates in the U.S.
- Janney Montgomery Scott: Janney is a mid-size broker-dealer with a dedicated Financial Institutions Group covering community and regional banks, providing M&A advisory, capital raising, equity research, and sales/trading — the same integrated platform model Hovde operates.
- Boenning & Scattergood: Boenning & Scattergood is a closely held investment bank and broker-dealer with a long-standing Financial Institutions Group serving community banks across the Mid-Atlantic and beyond; it competes with Hovde for sell-side advisory, fairness opinions, and capital markets mandates.
- Compass Point Research & Trading: Compass Point is a sell-side broker and advisory firm focused on small and mid-cap financial services and FinTech companies, providing research, sales/trading, and capital markets services; directly comparable to Hovde's research-led FI platform.
- FIG Partners (legacy franchise, now RBC Capital Markets): FIG Partners was a direct competitor boutique IB focused exclusively on community banks until it was acquired by Royal Bank of Canada. Several Hovde senior professionals previously worked at FIG, and the two franchises competed head-to-head on bank M&A and capital markets mandates.
Regional players
- Ladenburg Thalmann (now Ladenburg Thalmann / Advisor Group): Ladenburg Thalmann operated a Financial Institutions Group that advised community banks on M&A and capital raises, similar in mandate profile to Hovde; it is now part of a broader wealth management platform, making it a historical rather than active direct competitor.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Hovde Private Equity Advisors social profiles
Digital presenceHovde Private Equity Advisors financial estimates
Financial estimateRevenue estimate
Valuation estimate
Hovde Private Equity Advisors leadership team
Management profileNumber of profiles
Profiles12 records
Hovde Private Equity Advisors funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Hovde Private Equity Advisors M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Hovde Private Equity Advisors
What does Hovde Private Equity Advisors do?
Hovde Group operates as a full-service boutique investment bank and broker-dealer providing investment banking advisory, capital markets, equity research, and equity sales & trading services exclusively to financial institutions. The firm advises on mergers and acquisitions, divestitures, valuations, fairness opinions, private placements, public offerings, and other capital raising transactions for community and regional banks, specialty finance companies, asset managers, and FinTech firms.
Is Hovde Private Equity Advisors a public or private company?
Hovde Private Equity Advisors is a private company. It is classified as family owned and is currently operating.
When was Hovde Private Equity Advisors founded?
Hovde Private Equity Advisors was founded in 1987. It employs 11 to 50 people.
Where is Hovde Private Equity Advisors based?
Hovde Private Equity Advisors is headquartered in Illinois City, United States, in the North America region.
How does Hovde Private Equity Advisors make money?
Four revenue lines are on record. Investment Banking Fees are the primary driver. The others are capital Markets Fees, equity Trading and Market Making and equity Research.
Who are Hovde Private Equity Advisors's main competitors?
Broad incumbents on record are Stifel Financial Corp. (Keefe, Bruyette & Woods) and Piper Sandler (Sandler O'Neill + Partners). Direct peers are Performance Trust Capital Partners, Janney Montgomery Scott, Boenning & Scattergood, Compass Point Research & Trading and FIG Partners (legacy franchise, now RBC Capital Markets). Ladenburg Thalmann (now Ladenburg Thalmann / Advisor Group) is listed as a regional player.
Does Hovde Private Equity Advisors have an API?
No public API is recorded for Hovde Private Equity Advisors.
What industry is Hovde Private Equity Advisors in?
Hovde Private Equity Advisors's product category is Investment Banking. Its primary akta.pro industry code is FSAHAKAJ, Co-Investment Aggregators & Multi-Manager Co-Invest Vehicles, with a secondary code of FSAHAKAC, Managed Account Platforms (Separately Managed Accounts / Customized Portfolios). Its NAICS code is 523 and its SIC code is 6211.