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Formentera Partners Fund III Closure: Formentera Partners, an energy-focused private equity firm, successfully closed its third flagship fund, Fund III, with $934.8 million in capital commitments, surpassing its $900 million target, and raised a total of $1.31 billion including co-investment capital.

Investor Confidence and Strategy: The fund's success reflects strong investor confidence in Formentera's disciplined investment strategy and operational expertise, which focus on generating cash flows and delivering attractive distributions.

Growth in Assets Under Management: With the closure of Fund III, Formentera's total assets under management have reached $2.8 billion, highlighting the firm's growth and commitment to consistent returns through strategic asset development.

Eaton Partners' Role: Eaton Partners acted as the exclusive placement agent for Formentera, emphasizing their role in connecting the firm with institutional investors and supporting its long-term vision in the energy sector.

Equitable's Acquisition: Equitable has announced an agreement to acquire Stifel Independent Advisors, a premier independent broker-dealer, expected to close in Q1 2026, enhancing its Wealth Management business.

Growth Strategy: This acquisition aligns with Equitable's disciplined growth strategy in wealth management, complementing its existing 4,500 financial professionals and over $110 billion in assets under administration.

Support for Advisors: Stifel's independent advisors will benefit from Equitable Advisors' resources, including technology, marketing tools, and a holistic approach to financial planning, aimed at enhancing client service.

Stifel's Focus: Stifel Financial Corp. will continue to concentrate on its core employee-channel advisory business, aiming to grow its assets under management from $500 billion to $1 trillion.

Equitable Holdings Acquisition: Equitable Holdings has agreed to acquire Stifel Independent Advisors to enhance its Wealth Management business, with the deal expected to close in Q1 2026.

Impact on Stifel Financial: Stifel's shares rose 4% in premarket trading following the announcement, while the acquisition will allow Stifel Independent Advisors' 110 advisors, managing about $9B in assets, to join Equitable Advisors.

Growth Strategy: The acquisition aligns with Equitable's growth strategy, which includes expanding its network of financial professionals and enhancing its service offerings through improved resources and infrastructure.

Leadership Statement: Equitable President Nick Lane emphasized the company's commitment to disciplined growth in wealth management, highlighting that the acquisition complements their organic growth strategy.