PNC Bank Agrees to Acquire Aqueduct Capital Group to Complement Harris Williams Capabilities
- On May 20, 2025, PNC Bank announced that it had entered into a binding deal to purchase Aqueduct Capital Group, a Pittsburgh-based firm specializing in capital raising services for managers in private equity, private credit, and real assets.
- PNC pursued the acquisition to complement its subsidiary Harris Williams’ capital advisory services and expand its capacity to meet global private equity capital needs, with the deal subject to customary closing conditions.
- Founded in 2003, Aqueduct has established a strong reputation for advising clients on various fundraising strategies and provides connections to discerning investors throughout multiple regions including the Americas, Australia, Europe, and Asia, with minimal client overlap with PNC.
- Michael D. Thomas of PNC noted that the deal enhances their current capital advisory services, while Steve Lessing of Aqueduct emphasized that the partnership allows clients to broaden their investor reach in regions including North America, Australia, Europe, and Asia.
- The acquisition, expected to close mid-summer, will enhance PNC’s ability to serve a broader client base globally and create synergies with Harris Williams to deliver superior outcomes to longstanding clients.
38 Articles
38 Articles
PNC Bank to Acquire Aqueduct Capital Group
PNC Bank today announced entry into a definitive agreement to acquire Aqueduct Capital Group, a placement agent focused on raising capital for private equity, private credit and real asset managers through its broad access to sophisticated, global pools of capital. Founded in 2003, Aqueduct has built a strong reputation advising its clients on a variety of fundraising solutions. “This acquisition is complementary to existing capital advisory cap…
PNC Bank Agrees to Acquire Aqueduct Capital Group
PITTSBURGH, Pa. – PNC Bank announced Tuesday that it has entered into a definitive agreement to acquire Aqueduct Capital Group, a placement agent focused on raising capital for private equity, private credit and real asset managers through its broad access to global pools of capital. “This acquisition is complementary to existing capital advisory capabilities provided […] The post PNC Bank Agrees to Acquire Aqueduct Capital Group appeared first …
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