Key Takeaways
- • KeyBanc Capital Markets, the corporate and investment banking unit of KeyCorp (NYSE: KEY), has entered into a definitive agreement to acquire Atlantic-Pacific Capital, Inc., a New York-headquartered private capital advisor to financial sponsors, according to a PRNewswire release dated November 3, 2026.
- • The deal adds fund placement, direct private placement and secondary advisory capabilities across private equity, real estate, private credit and real assets, and brings more than 30 professionals to Key.
- • Atlantic-Pacific reports executing more than 180 capital raising assignments aggregating over $123 billion over its 31-year history, founded in 1995 by Chairman James Manley.
- • The transaction is subject to regulatory approvals and customary closing conditions and is expected to close in early 2027.
- • Key says the acquisition positions it to participate in the growing market for continuation vehicles, with Randy Paine, Head of KeyCorp's Institutional Bank, calling it a significant step in serving financial sponsors.
Summary
KeyBanc Capital Markets Inc., the corporate and investment banking unit of KeyCorp (KEY), announced on November 3, 2026 that it has entered into a definitive agreement to acquire Atlantic-Pacific Capital, Inc., a private capital advisor serving financial sponsors. Headquartered in New York, Atlantic-Pacific maintains a global footprint with offices in Stamford, Chicago, Los Angeles, San Francisco, San Juan, London, Barcelona, Dubai and Hong Kong, according to the company's release.
Atlantic-Pacific offers an integrated suite of fund placement, direct private placement and secondary advisory services across private equity, real estate, private credit and real assets. The firm was founded in 1995 by Chairman James Manley and will bring more than 30 professionals to Key. Per the company's disclosures, it has executed more than 180 capital raising assignments aggregating over $123 billion for alternative asset managers. Raed Elkhatib serves as President and CEO of Atlantic-Pacific.
Key said the transaction will broaden its ability to deliver private capital solutions at the fund and individual asset level and expand its advisory and capital raising capabilities. Randy Paine, Head of KeyCorp's Institutional Bank, said the deal positions Key to participate in the expanding market for continuation vehicles. Elkhatib said sponsors increasingly raise capital across funds, direct deals and secondaries simultaneously and want a single execution partner, and that Atlantic-Pacific's LP relationships combined with Key's platform would meet that need.
The transaction is subject to required regulatory approvals and customary closing conditions and is expected to close in early 2027. KeyBanc Capital Markets is serving as exclusive financial advisor to KeyCorp with Jones Day as transaction counsel, while Solomon Partners is exclusive financial advisor to Atlantic-Pacific with Blank Rome LLP as counsel. KeyCorp, headquartered in Cleveland, reported assets of approximately $193 billion as of September 30, 2026.
Atlantic-Pacific offers an integrated suite of fund placement, direct private placement and secondary advisory services across private equity, real estate, private credit and real assets. The firm was founded in 1995 by Chairman James Manley and will bring more than 30 professionals to Key. Per the company's disclosures, it has executed more than 180 capital raising assignments aggregating over $123 billion for alternative asset managers. Raed Elkhatib serves as President and CEO of Atlantic-Pacific.
Key said the transaction will broaden its ability to deliver private capital solutions at the fund and individual asset level and expand its advisory and capital raising capabilities. Randy Paine, Head of KeyCorp's Institutional Bank, said the deal positions Key to participate in the expanding market for continuation vehicles. Elkhatib said sponsors increasingly raise capital across funds, direct deals and secondaries simultaneously and want a single execution partner, and that Atlantic-Pacific's LP relationships combined with Key's platform would meet that need.
The transaction is subject to required regulatory approvals and customary closing conditions and is expected to close in early 2027. KeyBanc Capital Markets is serving as exclusive financial advisor to KeyCorp with Jones Day as transaction counsel, while Solomon Partners is exclusive financial advisor to Atlantic-Pacific with Blank Rome LLP as counsel. KeyCorp, headquartered in Cleveland, reported assets of approximately $193 billion as of September 30, 2026.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.