Stifel Financial Corp has agreed to acquire leading placement agent Eaton Partners LLC, the firm announced Monday. No financial terms were disclosed.
The deal is expected to close in early January 2016.
Although Eaton will become a Stifel subsidiary as a result of the transaction, Eaton will retain its name.
Stifel’s acquisition of Eaton comes five months after the financial services firm announced it would acquire Barclays‘ U.S. wealth and investment management unit as previously reported by Reuters.
That transaction is slated to close in the fourth quarter of this year.
Launched in 1983, Eaton has raised more than $68 billion across 90 funds. According to the statement announcing the Stifel acquisition, Eaton “anticipates that advisory revenues will be approximately $60 million in 2015.”
Keefe, Bruyette & Woods Inc served as lead advisor to Stifel on the deal.
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