Perella Weinberg Said to Offer Partner Status to Tudor Bankersby and
Tudor, Pickering, Holt and Pruner may become new partners
Deal could be announced in the coming weeks, people say
Perella Weinberg Partners is offering partner status to four executives of Tudor Pickering Holt & Co. as part of talks to reach a deal to combine the investment banks, according to two people familiar with the plan.
Bobby Tudor, Dan Pickering, Chief Financial Officer Alexandra Pruner and Maynard Holt would become partners, said the people, who asked not to be identified discussing a plan before a public announcement. Perella Weinberg employs about 450 people and the deal would add almost 200 in headcount, said one of the people.
Perella Weinberg advises on mergers and acquisitions and restructurings, and would add energy dealmaking capabilities by adding Houston-based Tudor Pickering, at a time when transactions in the industry are expected to pick up. A combination would reunite alumni of Goldman Sachs Group Inc.: Tudor, Holt and Peter Weinberg. An agreement may be announced in coming weeks, the people said.
A deal could boost Perella Weinberg’s asset-management unit, which oversees about $10.2 billion, according to a statement this month. Tudor Pickering also has sales, trading and research operations, and handles more than $1.9 billion of assets. It has offices in Calgary, Denver, London and New York and recently expanded in Canada.
A representative of Tudor Pickering didn’t immediately return a message seeking comment. Denise DesChenes of Sard Verbinnen & Co. declined to comment on behalf of Perella Weinberg. The discussions of a possible merger were first reported in April by Fox Business Network.