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Macquarie acquires specialist investment bank FPK

Macquarie has acquired specialist investment bank Fox-Pitt Kelton Cochran Caronia Waller for £81m in equity value plus £10.4m of long-term liabilities.

The investment bank, better known as FPK, currently provides capital, strategic and transactional advisory services from its offices in various locations, including London.

A statement on the Australian stock exchange says the acquisition will enhance Macquarie’s offering to financial firms in Europe.

FPK was founded in London in 1971 and now employees 267 people, with 10 per cent based in the UK, Asia and the US.

Macquarie Securities Group global head Roy Laidlow says: “FPK and Macquarie’s equity offerings in financial institutions are particularly complimentary and together we’ll deliver a wider and stronger mix of products to our respective clients.”

FPK president John Waller says: “This transaction allows FPK to grow with its clients by bringing together Macquarie’s global strength and capital resources with our specialist expertise.”

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