Cohen & Company Capital Markets announced the opening of a new Houston office and the appointment of Rahul Jasuja as Head of Energy and Energy Transition. The move follows a record $44 billion in transaction volume in 2025, nearly doubling the firm’s deal flow from the previous year.
Jasuja brings a decade of investment‑banking experience from Wells Fargo Securities, Citigroup and Bank of America Merrill Lynch. In his new role he will oversee M&A advisory and capital‑markets transactions across traditional energy, sustainable fuels and infrastructure. The Houston hub will focus on four verticals—firm and scalable energy systems (including nuclear, geothermal and other dispatchable platforms), critical energy supply chains, energy‑transition fuels and technologies, and traditional energy portfolio evolution—chosen to support the digital economy, AI, and defense supply chains.
The expansion builds on a strong 2025 financial performance: revenue reached $84.2 million with an adjusted pre‑tax income of $16.4 million, while 2024 revenue was slightly lower than 2023. The firm’s 2025 results reflected robust demand for its SPAC and digital‑asset underwriting, and the new office is positioned to capture the growing capital‑markets activity in the energy‑transition space.
Management emphasized the strategic rationale behind the move. Jasuja said the expansion is “not a geographic expansion; it is a sector thesis” and that Houston is the “center of gravity” where capital, operating expertise and execution converge. Jerry Serowik added that the capital markets are shifting from incubation to industrial scale‑up, underscoring the firm’s confidence in the maturity of the energy‑transition sector.
The announcement signals a decisive pivot toward energy‑transition advisory services, leveraging Cohen & Company’s SPAC expertise and $44 billion transaction volume to capture new deal flow. While the firm faces pricing pressure and cost inflation in some segments, management remains confident that disciplined capital allocation and a focus on high‑margin, dispatchable energy platforms will sustain growth.
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