KeyBanc Capital Markets to Acquire Atlantic-Pacific Capital

Transaction expands KeyCorp's reach with global fund placement, direct private placement, and secondary advisory—further strengthening the focus on financial sponsors.

CLEVELAND, Nov. 3, 2026 /PRNewswire/ -- KeyBanc Capital Markets Inc., the corporate and investment banking unit of KeyCorp (NYSE: KEY), today 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.

About Atlantic-Pacific Capital, Inc. (www.apcap.com), Member FINRA and SIPC

Since its founding in 1995, Atlantic-Pacific has organically grown into a global organization with an established brand in the private equity community. Over 31 years, the firm has executed more than 180 capital raising assignments aggregating over $123 billion for an extraordinary group of alternative asset managers. Typical mandates include private equity, private credit, real estate and real assets fund placements as well as secondary advisory mandates and direct private placements. Atlantic-Pacific provides global marketing distribution and project management execution using a focused and customized approach. With experienced professionals located in New York, Stamford, Chicago, Los Angeles, San Francisco, San Juan, London, Barcelona, Dubai and Hong Kong, Atlantic-Pacific maintains a global network of trusted relationships with influential institutional investors.

About KeyBanc Capital Markets

KeyBanc Capital Markets is a leading corporate and investment bank providing capital markets and advisory solutions to emerging growth and middle market companies, private equity firms, and asset managers. Our deep industry expertise, broad capabilities, and unique ideas and execution capabilities are seamlessly delivered to companies across the Consumer & Retail, Diversified Industries, Financial Services, Healthcare, Industrial, Oil & Gas, Real Estate, Utilities, Power & Renewables and Technology verticals. With more than 800 professionals across a national platform, KeyBanc Capital Markets has raised more than $125 billion of capital over the last twelve months for its clients and has an award-winning equity research team that provides coverage on over 500 publicly traded companies.

KeyBanc Capital Markets is a trade name under which the corporate and investment banking products and services of KeyCorp® and its subsidiaries, KeyBanc Capital Markets Inc., Member FINRA/SIPC ("KBCM"), and KeyBank National Association ("KeyBank N.A."), are marketed. Securities products and services are offered by KeyBanc Capital Markets Inc. and its licensed securities representatives. Banking products and services are offered by KeyBank N.A. Securities products and services: Not FDIC Insured • No Bank Guarantee • May Lose Value

About KeyCorp

KeyCorp's roots trace back more than 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $193 billion as of September 30, 2026.

Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 950 branches and approximately 1,100 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank Member FDIC. 

SOURCE KeyBanc Capital Markets Inc.