KeyBanc buys Atlantic-Pacific Capital to expand private-capital advisory
What's the deal? KeyBanc Capital MarketsDealroom has a profile for this one. Try Dealroom →, the corporate and investment banking unit of KeyCorp, has agreed to acquire Atlantic-Pacific Capital, a New York-based private capital advisor for financial sponsors. The deal value was not disclosed. It is expected to close in early 2027, subject to regulatory approvals.
What's the endgame? Atlantic-Pacific brings more than 30 professionals and a global network, extending KeyBanc into fund placement, direct private placement, and secondary advisory across private equity, real estate, private credit, and real assets. Founded in 1995 by chairman James Manley, the firm has executed more than 180 capital-raising assignments totaling over $123 billion.
Why now? Sponsors increasingly want one partner across fundraising, deals, and liquidity. "The same firm might be raising a fund, syndicating a direct deal and running a continuation vehicle at once, and they want one partner who can execute across all of it," said Raed Elkhatib, president and chief executive officer of Atlantic-Pacific Capital.
The bigger picture: The acquisition positions KeyBanc to serve financial sponsors "at the fund and individual asset level," said Randy Paine, head of KeyCorp's Institutional Bank, including the growing market for continuation vehicles. Secondaries have gained traction as a liquidity route amid constrained exits, while 2026 fundraising has favored larger, established managers.
The signal: The deal reflects a wave of consolidation in private-capital advisory. Lazard completed its acquisition of Campbell LutyensDealroom has a profile for this one. Try Dealroom → this month, combining similar capabilities with its broader banking platform — a sign that scale is becoming the price of entry in an increasingly integrated niche.
Read more: marketscreener.com
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