Raymond James Acquires Funding Financial institution Silver Lane Advisors

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Raymond James Monetary has reached an settlement to buy Silver Lane Advisors, a boutique funding financial institution that makes a speciality of mergers and acquisitions involving monetary companies companies, together with wealth managers.

The New York-based financial institution will type a brand new Asset & Wealth Administration group inside Raymond James Funding Banking’s monetary companies apply. The group could have greater than 40 bankers protecting banks and thrifts, asset and wealth managers, insurance coverage firms, specialty finance firms and BDCs when the transaction is full. 

Phrases of the deal weren’t disclosed. It’s anticipated to shut in April.

Raymond James has been centered on increasing its monetary companies apply for a while, Paul Reilly, Raymond James’ chairman and CEO, mentioned in a be aware concerning the deal.

“In keeping with our long-term view of consolidation throughout the monetary companies area, we see explicit alternative within the asset administration and wealth administration classes, which is the place Silver Lane excels with unparalleled experience,” mentioned Jim Bunn, president of Raymond James World Equities & Funding Banking. “Integrating their deeply skilled professionals into our present Monetary Companies apply additional positions us to capitalize on the rising demand for asset and wealth administration experience, whereas providing purchasers a broader vary of capabilities.”

Silver Lane Advisors, based in 2007, is likely one of the top-ranked companies that makes a speciality of offers involving wealth and asset managers. In September, Elizabeth Nesvold, the funding financial institution’s founder and managing accomplice, mentioned the firm employed 15 bankers and primarily labored on offers valued from $20 million to over $1 billion. The agency’s 5 managing administrators have labored on an combination of greater than 300 offers, she mentioned.

In August, Silver Lane Advisors moved to a brand new workplace overlooking Central Park with plans to double the variety of bankers so as to capitalize on alternatives to advise on a better quantity of transactions and extra difficult ones, Nesvold instructed WealthManagement.com.

This story is growing and will probably be up to date.

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