-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
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 KXrHbj5cW2lqg+cvDXuXQQ==

<SEC-DOCUMENT>0001181431-10-026792.txt : 20100513
<SEC-HEADER>0001181431-10-026792.hdr.sgml : 20100513
<ACCEPTANCE-DATETIME>20100513200513
ACCESSION NUMBER:		0001181431-10-026792
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20100511
FILED AS OF DATE:		20100513
DATE AS OF CHANGE:		20100513

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COWEN GROUP, INC.
		CENTRAL INDEX KEY:			0001466538
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1221 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10020
		BUSINESS PHONE:		(646) 562-1000

	MAIL ADDRESS:	
		STREET 1:		1221 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10020

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LexingtonPark Parent Corp
		DATE OF NAME CHANGE:	20090617

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BA Alpine Holdings, Inc.
		CENTRAL INDEX KEY:			0001491735
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34516
		FILM NUMBER:		10830392

	BUSINESS ADDRESS:	
		STREET 1:		685 YACHT DRIVE
		STREET 2:		P.O. BOX 31362
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-1206
		BUSINESS PHONE:		345-938-0187

	MAIL ADDRESS:	
		STREET 1:		685 YACHT DRIVE
		STREET 2:		P.O. BOX 31362
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-1206
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>rrd275484.xml
<DESCRIPTION>FORM 3
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0203</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2010-05-11</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001466538</issuerCik>
        <issuerName>COWEN GROUP, INC.</issuerName>
        <issuerTradingSymbol>COWN</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001491735</rptOwnerCik>
            <rptOwnerName>BA Alpine Holdings, Inc.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>685 YACHT DRIVE, P.O. BOX 31362</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>WEST BAY</rptOwnerCity>
            <rptOwnerState>E9</rptOwnerState>
            <rptOwnerZipCode>KY1-1206</rptOwnerZipCode>
            <rptOwnerStateDescription>CAYMAN ISLANDS</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Class A Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>8518685</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnotes</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Represents 8,518,685 shares of Class A Common Stock that underlie BA Alpine Holdings, Inc's. capital in RCG Holdings LLC (&quot;RCG&quot;).  37,536,856 shares of Class A Common Stock were issued to RCG (the &quot;RCG Shares&quot;) upon the consummation of the transactions (the &quot;Transactions&quot;) contemplated by the Transaction Agreement and Plan of Merger, dated as of June 3, 2009, by and among Cowen Group, Inc. (f/k/a LexingtonPark Parent Corp.), Cowen Holdings, Inc. (f/k/a Cowen Group, Inc.), Lexington Merger Corp., Ramius LLC (f/k/a Park Exchange LLC) and RCG.  BA Alpine Holdings, Inc. (&quot;BA Alpine&quot;) holds a nonvoting interest in RCG based upon BA Alpine's capital contributions to RCG.  The 8,518,685 shares of Class A Common Stock are attributable to BA Alpine as such shares underlie its nonvoting interest in RCG.  (Continued in Footnote 2)</footnote>
        <footnote id="F2">As of the date hereof, BA Alpine is permitted to withdraw the entirety of its capital from RCG at any time, subject to providing proper notice to the managing member of RCG.  Upon a withdrawal of capital by BA Alpine, RCG will distribute to BA Alpine, at its election, either (i) the RCG Shares underlying the withdrawn capital (subject to certain provisions set forth in the RCG Operating Agreement) or (ii) cash, in which instance RCG will sell RCG Shares (subject to applicable securities laws) attributable to BA Alpine on or prior to effectiveness of such withdrawal and will use the net cash proceeds of such sale to satisfy the withdrawal request in cash.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>BA ALPINE HOLDINGS, INC</signatureName>
        <signatureDate>2010-05-13</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Nicola Corsetti, Director and Vice-President</signatureName>
        <signatureDate>2010-05-13</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Josef Duregger, Director</signatureName>
        <signatureDate>2010-05-13</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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