Publicly traded PNC Financial Services Group (PNC) has announced that it will merge its investment banks Harris Williams and Sixpoint Partners. PNC acquired Harris Williams in 2005 and Sixpoint Partners in 2019.
Sixpoint’s advisory services include primary fund placement, secondaries advisory, and co-investment placement. The firm typically limits its placement activities to between six and eight at any given time and focuses on funds of between $200 million and $2 billion in size. Sixpoint, founded in 2007 by Partner Eric Zoller, is headquartered in New York with offices in Chicago, San Francisco, and London.
Post-closing, which is expected later this summer, Harris Williams will continue to be led by co-CEOs Bob Baltimore and John Neuner, while Mr. Zoller will join the Harris Williams management team as head of private capital advisory.
“Our Sixpoint team is proud of what we have accomplished and excited to become part of Harris Williams, which is one of the most trusted M&A advisors to the private equity community,” said Mr. Zoller. “The cultures of our two firms are an excellent fit, as we share a deep entrepreneurial spirit and great commonality of values. At the end of the day, we are all relentlessly focused on providing the very best experience for our clients and our people.”
Harris Williams, a member of The PNC Financial Services Group (NYSE: PNC), provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements, and capital markets advisory services. The firm is known for its focus on the middle market, which is generally defined as companies with annual revenues between $50 million and $1 billion. Clients of Harris Williams are active across numerous industries, including aerospace and defense, business services, consumer, energy and power, healthcare and life sciences, industrials, and technology.
“Sixpoint has built a terrific business, providing the private equity community with service offerings that are complementary to and synergistic with our own,” said Mr. Neuner. “For over 30 years, our private equity partners have trusted us to help them build their business through our M&A advice. The collective expertise of Harris Williams and Sixpoint will enable us to support our clients throughout the life cycle of their firms—from fundraising to generating returns.”
“We are excited to welcome the talented Sixpoint team to Harris Williams and to capitalize on the considerable potential of our new partnership,” added Mr. Baltimore. “Our collective focus on industry knowledge, process excellence and providing the right solution to our clients will combine to form a powerful solution for our private equity clients.”
Harris Williams was founded in 1991 and is headquartered in Richmond, Virginia, with additional offices in Boston, San Francisco, Frankfurt, London, and Tokyo.
© 2023 Private Equity Professional | April 25, 2023
