Perella Weinberg Partners agreed to combine with Tudor Pickering Holt & Co. to form an investment bank with more than $12 billion in assets under management.
The combined firm will have more than 650 employees in locations including New York, London, San Francisco and Dubai, the companies said Monday in a statement that didn’t disclose terms.
The addition of Houston-based Tudor brings energy dealmaking expertise to Perella Weinberg. The combination, expected to be completed in the fourth quarter, will reunite alumni of Goldman Sachs Group Inc.: Bobby Tudor and Peter Weinberg.
Tudor’s “strong suite of asset management strategies and solutions are poised to benefit from recovery in the energy market and well-suited to drive further growth and value for investors,” Perella Weinberg Chief Executive Officer Robert Steel said in the statement. “The combination also adds Tudor Pickering Holt’s securities business, renowned for its deep domain research and thought-leadership.”
This article was provided by Bloomberg News.