KeyBanc Capital Markets Inc., the corporate and investment banking unit of KeyCorp, announced it has entered into a definitive agreement to acquire Atlantic-Pacific Capital Inc., a premier private capital advisor for financial sponsors.
Headquartered in New York, Atlantic-Pacific Capital maintains a global presence, delivering an integrated suite of fund placement, direct private placement, and secondary advisory capabilities across private equity, real estate, private credit, and real assets. Founded in 1995 by Chairman James Manley, the firm will bring 30+ professionals to Key with deep distribution reach and advisory expertise across the global financial sponsor and limited partner community.
Atlantic-Pacific's fully integrated fund placement and capital solutions team will enhance KeyCorp's ability to deliver its broad solution set to financial sponsors, while offering Key expanded advisory and capital raising capabilities.
"This acquisition marks a significant step forward in our ability to serve financial sponsors with private capital solutions at the fund and individual asset level, while positioning Key to participate in the expanding market for the creation of continuation vehicles," said Randy Paine, Head of KeyCorp's Institutional Bank. "Atlantic-Pacific Capital's established relationships, global LP distribution, and secondary advisory expertise complement our deep industry expertise and existing investment banking capabilities. We are thrilled to welcome the team to Key."
"Since 1995, Atlantic-Pacific has been built on deep, long-standing relationships with institutional investors around the world and a focused, customized approach to every mandate we take on," said James Manley, Founder and Chairman of Atlantic-Pacific Capital. "Joining Key gives our clients access to the scale and resources of a leading corporate and investment bank, while allowing our team to keep doing what we do best. We share a commitment to serving financial sponsors and their investors, and we are excited to build on that foundation together as part of Key."
"Sponsors today don't raise capital one way. 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. "Our investor relationships and track record across funds, directs and secondaries, combined with Key's platform and sponsor coverage, let us be that partner. Our clients will see the same team and the same focused, senior-led approach, with more resources behind it."
The transaction is subject to required regulatory approvals and customary closing conditions and is expected to close early 2027. KeyBanc Capital Markets is serving as exclusive financial advisor to KeyCorp and Jones Day is acting as transaction counsel. Solomon Partners is serving as exclusive financial advisor to Atlantic-Pacific Capital and Blank Rome LLP is acting as transaction counsel.