Please wait

Exhibit 21.1

List of Subsidiaries of Cowen Group, Inc.
(as of December 31, 2008)

Name of Subsidiary
  Jurisdiction
Cowen and Company, LLC   Delaware
Cowen International Limited   England and Wales
Cowen Capital Partners, LLC   Delaware
Cowen Asset Management, LLC   Delaware
Cowen Asset Management Limited   England and Wales
Cowen Healthcare Royalty Management, LLC   Delaware
Cowen Latitude Advisors Limited   Hong Kong
Cowen Funds p.l.c.    Ireland