Mizuho acquires placement agent Capstone

Capstone managing partner and CEO Clay Deniger and managing partner and president Steve Standbridge will serve as co-heads of the Capstone business within the Banking Americas division of Mizuho Americas, according to a statement.

The deal is part of Mizuho's ongoing expansion of its investment and corporate banking franchise, the firm said in a statement. It offers services for financial sponsors including leading IPOs, special-purpose acquisition company deals and M&A advisory.

Founded in 2001, Capstone has a network of around 1,500 LPs in the US, Europe and Asia. It provides placement agent services for funds across a variety of asset classes, including private equity, credit and infrastructure. It has a team of 40 and has offices in Dallas, New York, London, Geneva and Singapore.

According to Unquote Data, Capstone has acted as placement agent on fundraises for vehicles including Elysian Capital II and Marondo Small-Cap Growth Fund. The firm assisted its clients with final closes totalling USD 10bn, according to a statement.

Houlihan Lokey advised Mizuho, with Debevoise & Plimpton providing legal advice and PwC providing due diligence services. Keefe Bruyette & Woods (a Stifel company) provided financial advice to Capstone, while Vinson & Elkins provided legal advice.

The deal comes after US-based investment bank Raymond James acquired placement agent and secondary market adviser Cebile Capital in May 2021, as reported.

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• Topics
• Advisory
• Fundraising
• Capstone Partners
• United States