CAPITAL ADVISORY. INVESTOR RELATIONS.

Dedicated partners. Lasting relationships. Outcomes delivered.

JBG Cap Advisory is an equity capital markets and investor relations advisory firm built around real buy-side experience and decades of hands-on advisory work. We advise companies through the moments that matter most to their standing with the Street: going public, reporting results, and building durable shareholder support.

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About us

Most advisors manage process. We manage outcomes.

JBG Cap Advisory (The JBernstein Group) is a different kind of investor relations and equity capital markets advisory firm. We advise companies through the moments that matter most to their standing with the Street: going public, reporting results, and building durable shareholder support.

What sets us apart is who we have been on the other side of the table. The investors who buy your stock decide the outcome, and we spent our careers alongside them. We built our practice around real buy-side experience, alongside decades in equity capital markets, sell-side research, and in-house investor relations leadership, so we know firsthand how the people who decide outcomes think. We have done the work ourselves as institutional investors, underwriters, research analysts, and heads of investor relations.

We are also deliberately small and relationship driven. Partners do the work, and we embed with your team. Clients get direct access to us, and we get deep enough into the business to advise like insiders.

Buy side firstDecades as institutional investors, not only advisors
Two practices, one teamCapital markets and investor relations advisory
Partners do the workEvery engagement is partner-led

Capabilities

We do two things.

Capital Markets Advisory

  • IPO AdvisoryFull-service readiness and execution support through the offering, from positioning, KPI selection, and S-1 disclosure decisions through analyst modeling sessions, testing the waters, syndicate strategy, pricing, and allocations.
  • DeSPAC AdvisorySupport for companies going public through a merger with a SPAC: the equity story and investor presentation, projections and KPI disclosure, PIPE and shareholder outreach, and a working investor relations program in place before the deal closes.

Investor Relations Advisory

  • Quarterly EarningsScripts, press releases, management commentary, and Q&A preparation for each reporting cycle.
  • Investor DaysPlanning, messaging, and executive preparation for the event, built around the story you want the Street to walk away with.
  • Perception StudiesIndependent feedback from shareholders and analysts on how your company is actually viewed, and what to do about it.
  • M&A TransactionsAnnouncement strategy, communications materials, and Q&A preparation for deals of any size.
  • Financial GuidanceStructure, philosophy, and communication of your outlook, calibrated to what you can consistently deliver.
  • Targeting and Outreach StrategyIdentifying the right holders for your stock and building a plan to reach them.
  • Retail EngagementReaching individual shareholders and integrating them into your ownership strategy.

Who we work with

Industry agnosticWe advise across sectors rather than specializing in one
$250 million to $100 billionMarket capitalizations we have advised, from small cap to large cap
Private and publicPre-IPO companies, newly public companies, and long-established public companies

Our team

We came from the buy side and leading advisory firms to solve for what is missing: the only advisors with decades of experience as institutional investors, in addition to in-house heads of investor relations, sell-side research, and equity capital markets.

Jeff Bernstein
Jeff Bernstein
Managing Partner

Jeff began his career as a buy-side technology analyst, then spent 10 years as a Managing Director at Goldman Sachs leading the firm's technology equity sales business, marketing its IPOs and research and allocating technology IPOs. He went on to spend 13 years as a portfolio manager and Chief Investment Officer investing in disruptive technology companies from pre-IPO forward, and later established and ran a multi-family office. Since 2017 he has advised companies on equity capital markets and investor relations, leading the technology capital markets business at ICR and the capital markets and strategic communications practice at Riveron.

Anthony Gerstein
Anthony Gerstein
Partner

Anthony spent nine years as a sell-side research analyst covering technology, media, and telecom at Bear Stearns and Salomon Smith Barney, then moved to the buy side as a portfolio manager and analyst at Baron Funds. After two years at ICR, he went in-house to lead investor relations for three companies, helping take two of them public and guiding the third, D+H (now part of Finastra), through its acquisition by Vista. Most recently he advised pre-IPO and public companies on building their investor relations programs at Riveron.

Chris Odeh
Chris Odeh
Partner

Chris began his career in the Markets Group at the Federal Reserve Banks of Chicago and New York, supporting monetary policy implementation and cross-market analysis for the FOMC. He then spent three years in investment banking at Piper Jaffray, Baird, and Plante Moran Corporate Finance, focused on middle-market M&A in technology and services. Over five years at Riveron he served as the outside investor relations advisor to public companies, running their IR programs end to end: guidance strategy, KPI and disclosure practices, peer benchmarking, sell-side and investor targeting, and analyst and investor days.

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