Sandler O’Neill Says Kelso, Carlyle Take Equity Stake
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Sandler O’Neill & Partners LP, the investment bank specializing in financial companies, said private-equity firms Kelso & Co. and Carlyle Group agreed to make a “substantial” minority investment. Terms weren’t disclosed.
The equity investment will “support the next level of growth and expansion of Sandler O’Neill and the accelerated development and enhancement of its client services,” the closely held firm said in a statement today. Sandler O’Neill will retain its current management team, led by James J. Dunne and Jonathan Doyle.