May 5, 2021
Raymond James’ (NYSE: RJF) acquisition of private equity secondary market advisor and private fund placement agent
Cebile Capital, announced today, gives the investment bank a deeper suite of services for private equity clients. Jim Bunn, president of Raymond James global equities and investment banking, tells
Mergers & Acquisitions about the bank’s view of secondaries and private equity M&A.
Jim Bunn, president of Raymond James global equities and investment banking
The
deal is a play on secondaries, yes, but is especially so for general partner-led secondaries in the middle market where pricing is still lumpy and less commoditized. Bunn describes the GP-led side of the market as more or less greenfields.