Placement agent Eaton agrees sale to Stifel

Founded in 1983, Eaton is one of the largest independent, partner-owned placement agents operating globally, with 60 employees across six offices and relationships with more than 4,000 institutional investors. It has raised over $68 billion for 90 funds since inception, including $25 billion in the last five years.

Eaton's Asia-based activities are run out of offices in Hong Kong and Shanghai. This year the firm has advised ADV Partners and CDIB Capital on their debut Asia private equity funds, Baring Private Equity Asia as it raised its first real estate fund, and Asia Alternatives Management on its fourth fundraise, comprising co-mingled fund-of-funds and separately managed accounts.

Stifel wants to tap into Eaton's relationships with private equity firms, hedge funds, high net worth family offices and institutional investors as it looks to grow its investment banking platform and high net worth private client business. The firm recently bought the Americas business of Barclays Wealth.

Eaton, which expects to generate advisory revenues of around $60 million in 2015, will operate under its own brand name within the Stifel group. The acquisition is scheduled to close in January 2016.

"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. We are very excited about the future opportunities this partnership will provide to our clients," said Charlie Eaton, Eaton's founding partner, in a statement.

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• Topics
• Advisory
• Buyouts
• Fundraising
• placement
• Eaton Partners
• M&A
• Fundraising
• Asia
• USA