FBR & Co., formerly FBR Capital Markets Corporation, is a full-service investment banking, institutional brokerage and asset management company. In addition, it makes principal investments, including merchant banking investments. Its segments include capital markets, which include investment banking and institutional brokerage and research; asset management, and principal investing, which includes merchant banking. It provides capital raising services, including underwriting and placement of public and private equity and debt; financial advisory services, including merger and acquisition advisory, restructuring, liability management, recapitalization and strategic alternative analysis; asset management services through a family of mutual funds; institutional sales and trading services focused on equities, equity-linked securities, listed options, high-yield bonds, senior debt and bank loans; and research coverage. The Company�s subsidiary is FBR Capital Markets & Co. (FBR & Co.).