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October 21, 2021

Raymond James to buy TriState Capital Holdings in $1.1bn deal

By Verdict Staff

Raymond James has brokered a deal to buy diversified financial services firm TriState Capital in a cash and stock transaction valued at approximately $1.1bn.

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
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  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
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Under the terms of the agreement, TriState Capital common stockholders will receive $6 cash and 0.25 Raymond James shares for each TriState Capital common stock share.

TriState Capital, which manages over $12bn in assets, offers banking and asset management services to individuals, corporations and municipalities.

The firm’s banking franchise consists of private banking and middle-market focused commercial lending with over $10bn in loans.

Chartwell Investment Partners, the firm’s asset management franchise, manages assets of approximately $11bn primarily in equity and fixed income strategies.

As part of the deal, Raymond James will offer TriState with relatively low-cost capital and a stable funding base to support its continued growth.

TriState Capital chairman and CEO Jim Getz said: “Raymond James’ strong balance sheet will provide supplemental capital and liquidity to continue enabling our fast-growing and highly scalable business model to meet clients’ commercial and securities-based lending and asset management needs.”

Following the closure of the deal, TriState will continue to operate as a separately branded firm and as a stand-alone division and independently chartered bank subsidiary of Raymond James.

Getz, TriState Capital Bank CEO Brian Fetterolf and Chartwell CEO Tim Riddle will retain their current positions.

TriState’s 350 associates are expected to remain with the firm in its existing office locations.

Raymond James chairman and CEO Paul Reilly said that the acquisition illustrates the firm’s commitment to utilise excess capital through organic and inorganic growth.

Recently Raymond James launched succession planning platform, dubbed Practice Exchange, to expand its succession and acquisition planning support for financial advisers.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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