June 6 (Reuters) - Investment banking firm Piper Sandler ( PIPR )

said on Thursday, it had agreed to buy smaller rival

Aviditi Advisors, helping it expand in the lucrative market for

private equity deals.

The firm will be housed within Piper Sandler's ( PIPR ) investment

banking platform, Piper said, without disclosing the financial

terms of the deal, which is expected to close towards the latter

half of the third quarter.

Aviditi, which was founded in 2020, primarily caters to

large PE firms and global alternative investment managers, and

has advised on over $30 billion in transactions.

Aviditi co-founders Ryan Schlitt and John Robertshaw

will be named Piper Sandler's ( PIPR ) head of private capital advisory

and vice chairman of private capital advisory, respectively.