PNC Bank to Acquire Aqueduct Capital Group
PNC Bank has entered a definitive agreement to acquire Aqueduct Capital Group, a specialized placement agent for private equity, credit, and real asset managers. The deal enhances PNC’s capital advisory services through its Harris Williams subsidiary.
Aqueduct’s 20-year track record in fundraising solutions aligns with PNC’s institutional banking strategy. "This expands our capacity to serve global private equity capital needs," said Michael D. Thomas, PNC’s Corporate & Institutional Banking head.
The acquisition reflects traditional finance’s continued consolidation of alternative investment expertise. No terms were disclosed, but the move signals banks’ growing appetite for private markets capabilities amid sluggish crypto adoption by institutional players.
