Pavilion Financial Corporation, a Canada-based investment services firm, has agreed to acquire LP Capital Advisors (LPCA), a US-based institution investing advisory firm.

The transaction, which is subject to a number of conditions, is expected to complete in the coming days. Financial terms were not disclosed.

The acquisition of Pavilion will enable LPCA to have additional resources to recruit top talent and invest in the expansion of our advisory services.

As part of the acquisition, Donn Cox, CEO of LP Capital Advisors, will continue to lead LPCA as president and managing director while Allen Waldrop, a partner of the firm, will lead LPCA’s private equity advisory team as managing director, private equity.

Following the deal, LPCA will maintain its name on a co-branded basis with Pavilion over the near-term, with a Pavilion brand name to be established in the future.

Founded in 2004, LP Capital Advisors serves clients including public pension plans, sovereign wealth funds, high net worth family offices and other organizations.

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Martin Weinberg, CEO & chairman of Pavilion Financial Corporation, said: "Pavilion has chosen to partner with LPCA because of its reputation and expertise in advisory services in alternative asset classes, particularly private equity.

"Both LPCA and Pavilion share the common vision of creating a specialized advisory platform for multiple alternative asset classes, including hedge funds, private equity, infrastructure and real estate by combining LPCA’s strong foundation with Pavilion’s current areas of expertise," he added.

Weinberg added that the acquisition follows Pavilion’s strategy of creating an employee-owned firm that can offer wide range of advisory services and solutions for clients.