PNC Bank to acquire Aqueduct Capital Group.

PNC Bank, a bank holding company, agreed to acquire Aqueduct Capital Group, a placement agent focused on raising capital for private equity, private credit and real asset managers. Financial terms were not disclosed. "This acquisition is complementary to existing capital advisory capabilities provided through PNC's subsidiary Harris Williams and will enable us to expand our ability to serve the global capital needs of the private equity industry," Michael D. Thomas, PNC head of Corporate & Institutional Banking.