PNC Bank Agrees to Acquire Aqueduct Capital Group to Complement Harris Williams Capabilities

Core Insights - PNC Bank has entered into a definitive agreement to acquire Aqueduct Capital Group, enhancing its capital advisory capabilities in the private equity sector [1][2] - The acquisition is expected to close in mid-summer, subject to customary closing conditions, with undisclosed terms [4] Company Overview - Aqueduct Capital Group, founded in 2003, specializes in raising capital for private equity, private credit, and real asset managers, leveraging its access to global capital pools [1][5] - Harris Williams, a subsidiary of PNC, focuses on M&A and private capital advisory services, emphasizing collaboration and strategic execution [6] Strategic Benefits - The acquisition will allow PNC to expand its service offerings to a broader range of clients in the private equity industry, with minimal overlap in client bases [2][3] - The partnership aims to enhance client relationships and diversify investor bases across North America, Australia, Europe, and Asia [3]