By Katherine Hamilton
PNC Financial Services said it has agreed to acquire private-equity placement agent Aqueduct Capital Group.
The Pittsburgh holding company of PNC Bank said Tuesday it expects the deal to close in mid-summer. It didn't disclose details or the price of the acquisition.
Aqueduct was founded in 2003 and focuses on raising capital for private equity, private credit and real asset managers. PNC expects Aqueduct will complement its existing capital advisory capabilities at its subsidiary Harris Williams.
"With minimal overlap in our respective client bases or limited partner relationships, this agreement increases the ability to serve a broader range of clients," Harris Williams Chief Executive John Neuner said.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
May 20, 2025 16:39 ET (20:39 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.