With this acquisition, Stifel will benefit from Eaton’s relationships with private equity firms, hedge funds, high net worth family offices, and institutional investors to grow its investment banking platform and its high net worth private client business.
Stifel Financial co-president Victor Nesi said: "This strategic transaction brings together both companies’ middle-market clients looking to raise public or private capital.
"This combination also presents an opportunity to grow our core advisory business at a time when private companies are raising multiple rounds of private capital prior to an IPO or merger."
With more than 60 employees, Eaton operates from six offices and has relationships with over 4,000 of the largest active institutional investors.
Since its inception in 1983, Eaton raised over $68bn for 90 highly differentiated funds, of which $25bn was raised in the past five years.
Eaton’s advisory revenues is anticipated to be around $60m this year.
Upon completion of the deal, Eaton will retain its brand name and will be operate as a Stifel company.
Subject to customary closing conditions, the deal is expected to be completed in early January 2016.
Stifel chairman and CEO Ronald J. Kruszewski said: "Charlie Eaton and his team are placement experts with a large investor base and a track record of success.
"As partners, we look forward to expanding our core advisory business and leveraging direct placements with our high net worth platform. This partnership fits very well with our overall growth strategy for the company."
