Investment bank PJT Partners has agreed to buy Corsair Capital-backed advisory firm Camberview Partners after two years in the latter’s portfolio.
Camberview provides independent advice to assist public company boards of directors and management teams in building relationships with investors.
The San Francisco-headquartered firm was founded in 2012. Corsair bought into the business four years later.
PJT said its $165m buyout would comprise $100m of equity for Class A common stock and partnership units, and $65m in cash.
Camberview says it has advised more than 180 public companies across a broad range of industries, including nearly half of the Fortune 100.
Paul J Taubman, chairman and CEO of PJT Partners, said, “Camberview’s deep experience and expertise in shareholder and governance matters significantly expands our ability to serve clients.
“CamberView shares a commitment to integrity, collaboration and best-in-class client service, which is at the heart of our firm.”
Corsair managing partner Ignacio Jayanti said, “This transaction provides CamberView’s world class team access to increased resources, expertise and scale to expand its service offering to clients and accelerate long-term growth.
“This combination brings together two businesses with proven track records of successfully advising blue chip companies globally. Corsair is looking forward to becoming a shareholder in PJT Partners.”
The transaction is expected to close early in the fourth quarter.
PE News reported in March that Corsair had raised about $420m for its fifth buyout fund, just under half of its rumoured $1bn target.
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