Piper Sandler Enters Definitive Agreement to Acquire Aviditi Advisors

Acquisition adds premier fundraising, secondary solutions and direct investment capital capabilities to the firm’s market-leading private equity M&A and capital markets franchises
BusinessWireJune 7, 20246 min

Piper Sandler Companies, a leading investment bank, announced that it has entered into a definitive agreement to acquire Aviditi Advisors.

Aviditi Advisors is a premier alternative investment bank providing full lifecycle services to financial sponsors, global alternative investment managers and limited partner investors with offices in New York City, Dallas, London and Munich. Ryan Schlitt and John Robertshaw co-founded Aviditi Advisors after previously leading or serving in senior capacities in private capital advisory groups and asset management at Credit Suisse Securities and Donaldson, Lufkin & Jenrette. In 2013, John Robertshaw also co-founded iCapital, a global fintech platform serving the wealth management industry, previously serving as its chairman. Aviditi’s integrated model provides best-in-class insights and guidance across three core verticals: primary fundraising with global project management and distribution capabilities; innovative secondary solutions for GPs and LPs across asset classes and structures; and comprehensive capital markets solutions for GPs across the lifecycle of their portfolio companies. Since its inception in 2020, Aviditi has advised on over $30 billion of transactions.

Aviditi Advisors will form Piper Sandler’s private capital advisory group, adding yet another industry-leading practice to Piper Sandler’s investment banking platform. The team consists of approximately 50 professionals across North America and Europe, including ten managing directors. Following the acquisition, Schlitt and Robertshaw will be named head of private capital advisory and vice chairman of private capital advisory, respectively, at Piper Sandler.

“Ryan and John have built a tremendous team and business, and one that is highly complementary to our leading, private equity-focused advisory platform. Fundraising, private capital markets and secondary solutions, including continuation vehicles, are of central importance to financial sponsors. Aviditi provides these critical capabilities and increases the value of our combined platform to our single largest client base – private equity,” said Mike Dillahunt, global co-head of investment banking at Piper Sandler.

Ryan Schlitt, chief executive officer and co-founder of Aviditi Advisors, commented, “We are extremely excited to be joining the Piper Sandler platform. It represents the next chapter of growth for our firm and service capabilities. Aviditi has been designed from the ground up to focus on the full lifecycle of business in which our clients engage both in the general partner and limited partner communities. We are fully integrated as a business and as a team, proving that a model focused on capital formation, liquidity solutions and capital solutions can deliver differentiated value to our clients. By combining with a market-leading platform like Piper Sandler, we believe we can grow to new heights. We provide special thanks to our investors and clients whose support helped build a premier franchise, and we are excited to continue to build upon this momentum in partnership with Piper Sandler.”

The transaction is expected to close in late third quarter of 2024 and is subject to obtaining required regulatory approvals and other customary closing conditions. Piper Sandler was advised by Sullivan & Cromwell LLP. Mayer Brown LLP and Keefe, Bruyette & Woods served as advisors to Aviditi Advisors in connection with the transaction.

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