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Perella Weinberg to Merge with Tudor, Pickering, Holt

November 14, 2016

Investment banks Perella Weinberg Partners and Tudor, Pickering, Holt agreed to combine into a financial firm with more than $12 billion in assets under management and an arm focused on the energy sector. The combined company will keep the Perella Weinberg Partners name, though Tudor, Pickering, Holt’s energy will keep the Houston-based firm’s name. Financial terms of the deal, expected to close by year’s end, weren’t provided.

 

The combined firm will have more than 650 employees across 8 offices and be led by Chairman Joseph Perella and Perella CEO Robert Steel. Maynard Holt, the co-president of Tudor, Pickering, Holt, will serve as Tudor, Pickering, Holt’s CEO. Robert Tudor III, the chairman and CEO, will continue as chairman. Dan Pickering, the other co-president, will be CIO of the energy asset management business.