SSB - Piper Sandler to Acquire Aviditi Expand Capabilities | Benzinga
Piper Sandler Companies (NYSE: PIPR) has announced a definitive agreement to buy Aviditi Advisors, an alternative investment bank. The acquisition will enhance the company's capabilities in fundraising, secondary solutions and direct investment capital. Thus, it will further solidify PIPR's leadership position in the private equity M&A and capital markets sectors.
Aviditi, co-founded by Ryan Schlitt and John Robertshaw, has advised on more than $30 billion of transactions since its inception in 2020. The firm provides comprehensive services across primary fundraising, innovative secondary solutions and capital markets. With offices in New York City, Dallas, London and Munich, Aviditi's integrated model offers best-in-class insights and guidance to financial sponsors, global alternative investment managers and limited partner investors.
Strategic Fit and Enhanced Capabilities
Following the completion of the acquisition (expected in the third quarter of 2024), Aviditi will form Piper Sandler's private capital advisory group. This will, thereby, expand PIPR's investment banking platform.
The addition of approximately 50 professionals, including 10 managing directors, is expected to bolster the company's expertise and presence in North America and Europe. Post-acquisition, Schlitt and Robertshaw will serve as the head and vice chairman of private capital advisory, respectively, at Piper Sandler.
Mike Dillahunt, global co-head of investment banking at Piper Sandler, said, "Fundraising, private ...