Deals
Stifel to Acquire Eaton for Private-Equity, Hedge Fund Ties
- CEO continues takeover spree, following up on Barclays deal
- Stifel rallies in New York trading after announcing agreement
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Stifel Financial Corp., the investment bank known for snapping up regional rivals and Wall Street castoffs, agreed to buy Eaton Partners to add ties with hedge funds, private-equity firms and high-net-worth family offices.
Eaton works with more than 4,000 institutional investors, and has raised $25 billion for funds in the past five years, St. Louis-based Stifel said in a statement Monday that didn’t disclose terms. Stifel said the purchase will expand its investment-banking and wealth-management operations, which now accounts for more than half of the firm’s revenue, according to data compiled by Bloomberg.