PNC Bank announced on May 20, 2025, its definitive agreement to acquire Aqueduct Capital Group. Aqueduct is a placement agent specializing in raising capital for private equity, private credit, and real asset managers.
This acquisition is designed to complement the existing capital advisory capabilities provided through PNC's subsidiary, Harris Williams. The transaction is expected to expand PNC's ability to serve the global capital needs of the private equity industry.
The acquisition is anticipated to close in mid-summer 2025, with terms of the deal not disclosed. This strategic move aims to leverage minimal overlap in client bases and limited partner relationships to serve a broader range of clients and enhance fee-based service offerings.
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