FBR & Co., through its subsidiaries, provides investment banking, institutional brokerage, and asset management services primarily in the United States. It offers capital raising services, including underwriting and placement of public and private equity and debt; financial advisory services, such as merger and acquisition advisory, restructuring, liability management, recapitalization, and strategic alternative analysis; institutional sales and trading services focused on equities, equity-linked securities, high-yield bonds, senior debt, and bank loans; research coverage; and asset management services through a family of mutual funds. The company’s principal investing activity consists primarily of investments in merchant banking, publicly traded companies, and short-term liquid instruments. It primarily serves capital markets business in the consumer, diversified industrials, energy and natural resources, financial institutions, insurance, real estate, technology, media, and telecommunications sectors. The company was formerly known as FBR Capital Markets Corporation and changed its name to FBR & Co. in June 2011. FBR & Co. was founded in 2006 and is headquartered in Arlington, Virginia.