Key to buy private capital adviser in boost to investment bank
Tuesday, November 3, 2026 · first reported by Banking Dive and 1 other
Key, a Cleveland-based lender with $193 billion in assets, is acquiring Atlantic-Pacific Capital, a private capital adviser based in New York that was founded in 1995. Around 30 employees will move to Key.
The release says Atlantic-Pacific has advised alternative asset managers on about 180 fundraising mandates worth $123 billion in total. Randy Paine, who heads KeyCorp's institutional bank, said the purchase strengthens Key's work for financial sponsors on funds and single assets and prepares it for continuation vehicles. TD Cowen's Scott Siefers called it a very small transaction, and RBC Securities' Gerard Cassidy tied it to Key's goal of $1 billion in annual investment banking revenue.
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- KeyCorp
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- Atlantic-Pacific Capital
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- North America
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