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Rothschild & Co.'s Global Advisory business will acquire the Livingstone team in the U.K., subject to approval by the Financial Conduct Authority, the U.K.’s financial regulatory organization.

Livingstone has cooperated with the London-based team since the international firm's founding in 2007. Following the transaction closing, Livingstone's 85 team members will continue to operate independently in all other geographies from its six offices in Beijing, Chicago, Dusseldorf, Los Angeles, Madrid and Stockholm.

Livingstone provides M&A, debt and special situations advice to entrepreneurs, and private and private equity-backed companies in the mid-market segment.

"The separation of the Livingstone business in the UK reflects a variety of strategic, market, and investment considerations," Livingstone Partner Steve Miles said in a statement. "Leveraging our strong growth in recent years, Livingstone will continue to look for new global opportunities, including expansion into other geographic locations in the US, Asia, and the rest of Europe."