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B. Riley & Co
B. Riley & Co combines middle-market investment banking with principal investing, distressed debt, and direct lending, led by founder Bryant Riley.
B. Riley & Co
Founded in 1997 by Bryant Riley, B. Riley & Co launched as a research-driven investment bank serving the small- and mid-cap market. The firm has since expanded into asset management, operating both an SEC-registered investment advisor and a broker-dealer, with wealth-origin traceable to its founders but not publicly itemized beyond the firm's corporate structure. The firm's strategy spans three pillars: principal investing, where it takes positions in distressed and special-situation companies; credit, including direct lending and collateralized loan obligations; and advisory, covering M&A, restructuring, debt and equity capital markets. Geographic focus is primarily North America, with select cross-border activity through its London office. Portfolio positions have included energy companies, financial services, and consumer products, disclosed in regulatory filings. B. Riley & Co has grown through acquisitions, including the purchase of B. Riley Wealth Management in 2019 and Great American Group in 2020. The firm operates additional offices in New York and London and maintains a commercial real estate arm, B. Riley Real Estate. In 2024, the firm faced regulatory scrutiny related to its relationship with Franchise Group, a portfolio company that filed for bankruptcy (per The Wall Street Journal, 2024). A structural differentiator is B. Riley's hybrid model — it is both a capital-markets intermediary and a principal investor. This creates information advantages in sourcing deals: the advisory desk surfaces opportunities for the balance sheet. The firm's partnership culture and succession remain founder-led, with Bryant Riley holding a controlling stake.
General information
Firm type
Asset Manager
Year founded
1997
AUM
Undisclosed (Altss estimate)
Location
Region
North America
Country
United States
City
Los Angeles
Corporate office
Los Angeles, CA, United States
Additional offices
New York, NY, United States · London, United Kingdom
Principals
Bryant Riley
Chairman and Co-Chief Executive Officer
Thomas J. Kelleher
Co-Chief Executive Officer
Sector focus
Frequently asked questions
Who runs investment decisions at B. Riley & Co?
Bryant Riley, as Chairman and Co-CEO, oversees the firm's strategic direction and principal investments. Thomas J. Kelleher serves as Co-CEO and manages day-to-day operations. The firm's investment committee includes senior managing directors across the capital-markets and asset-management units (public record).
Does B. Riley & Co invest as a principal or only as a financial advisor?
The firm operates in both capacities. Its principal investing arm deploys its own balance sheet into special-situations debt and equity, often alongside institutional partners. Additionally, B. Riley acts as a financial advisor in M&A, restructuring, and capital-raising transactions (per the firm's regulatory filings).
What asset classes does B. Riley & Co target?
The firm is active in private credit, distressed debt, special-situations equity, and collateralized loan obligations. It also engages in real estate through B. Riley Real Estate, focusing on opportunistic and value-add properties (per SEC filings).
How does B. Riley & Co source proprietary deal flow?
Deal flow originates from the firm's own investment banking and restructuring advisory desks, which provide early access to troubled companies and capital-raising situations. This gives B. Riley visibility into dislocated opportunities that may not be broadly marketed (public record).
Is B. Riley & Co structured as a family office?
No, B. Riley & Co is a publicly traded corporation (NASDAQ: RILY) and an SEC-registered investment advisor. It is not a family office, though founder Bryant Riley retains a controlling stake and the firm's leadership is family-aligned (public record).
What investment stages does B. Riley & Co typically target?
The firm focuses on special situations and distressed opportunities, including turnarounds, recapitalizations, and restructuring-level securities. It also provides direct lending to middle-market companies and occasionally invests in growth-stage debt and equity (per SEC filings).
How is B. Riley & Co related to its real estate arm?
B. Riley Real Estate is a wholly owned subsidiary focused on commercial real estate investments, including office, industrial, and specialty properties, often in value-add or distressed scenarios. It operates as part of the firm's principal investing platform (public record).
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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