US-based investment bank Stifel Financial has agreed to purchase Eaton Partners, an independent, partner-owned global fund placement and advisory firm.
Subject to customary closing conditions, the deal is scheduled to complete in early January 2016.
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Following the acquisition, Eaton will retain its brand name and will operate as a Stifel company.
Financial terms of the transaction, which will be immediately accretive to earnings, were not disclosed.
The deal comes after Stifel announced that it would purchase Barclays US wealth and investment management unit. This transaction is slated to complete in the fourth quarter of 2015.
Launched in 1983, Eaton has raised more than $68 billion across 90 funds. The company employs more than 60 across six offices and has relationships with more than 4,000 active institutional investors.
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By GlobalDataEaton expects that advisory revenues will be approximately $60m in 2015.
Stifel chairman and CEO Ronald Kruszewski said: "As partners, we look forward to expanding our core advisory business and leveraging direct placements with our high net worth platform. This partnership fits very well with our overall growth strategy for the company."
Stifel co-president Victor Nesi said: "This strategic transaction brings together both companies’ middle-market clients looking to raise public or private capital. This combination also presents an opportunity to grow our core advisory business at a time when private companies are raising multiple rounds of private capital prior to an IPO or merger."
Eaton Partners founding partner Charlie Eaton said: "In Stifel, we have found a partner that will provide us and our clients the resources to elevate our advisory and placement platform, and enhance our ability to compete and succeed at the highest level of the global placement business."
