The Wall Street giant’s new group will capitalize on a private-credit surge and anticipated private-equity deal boom.

It was another supercharged year for the ultraluxury market, which saw at least seven deals cross the $100 million threshold.

Eli Lilly agreed to acquire Scorpion Therapeutics’ breast cancer treatment program for up to $2.5 billion in cash.

Pharmaceutical giants have recently shown new enthusiasm for mental-health treatments with vast but unrealized promise.

Northwestern Mutual intends to take a small minority stake in the investment firm.

The boutique bank, long seen as a holdout, could sell a stake after recent interest from big investors.