Evercore Partners

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Evercore
Type Public company
Traded as NYSEEVR
Industry Investment Banking
Founded 1996
Headquarters 55 East 52nd Street
New York City, United States
Products Investment Banking
Investment Management
Revenue Increase $642 million (2012)[1]
Net income Increase $39.5 million (2012)[1]
Employees 900 (2012)[1]
Website www.evercore.com

Evercore is an independent investment banking advisory firm founded in 1996 by Roger Altman, David Offensend, and Austin Beutner.[2]

Recent activities[edit]

In 2010 the firm advised on the two largest IPOs of the year—including the General Motors IPO.[3] In the same year, the firm added a Private Funds placement group, and launched a research-driven equity sales and trading business. It ranked 11th in 2010 in the volume of announced transactions as compared to all firms, including bulge bracket and universal banks. The firm grew its Latin American presence through its 2010 acquisition of a 50% interest in Brazil-based G5 Advisors (now Evercore | G5).[4]

In August 2011, the firm completed its acquisition of Lexicon Partners, an independent UK-based investment banking advisory firm. [5]

In October 2011, Evercore and Kotak Mahindra Capital Company Limited (“Kotak Investment Banking”) (a subsidiary of Kotak Mahindra Bank Limited), announced that the two firms had entered into an exclusive strategic alliance for cross-border M&A advisory services between India and the United States, the United Kingdom, and Mexico.[5]

In November 2011, the firm announced that it had agreed to purchase a 45% non-controlling interest in ABS Investment Management, an institutionally focused equity long/short hedge fund of funds manager.[5]

In July 2013, the firm further expanded its advisory activities to covering the secondary private equity market by launching a dedicated Private Capital Advisory team.[6].

In April 2014, former Evercore banker Perkins Hixon pleaded guilty to insider trading in the securities of Evercore, Westway Group Inc. and Titanium Metals Corporation[7] from 2010-2013. He resigned from the company earlier in 2014.[8]

References[edit]

  1. ^ a b c Evercore 2012 Form 10-K
  2. ^ Evercore Makes a Bid for Court TV - NY Times [1]
  3. ^ Meet the Stealth Adviser on the GM IPO
  4. ^ Evercore’s G5 Advisors Aims to Raise $1 Billion for Brazilian Equity Funds
  5. ^ a b c Evercore Partners 2011 Financial News
  6. ^ [2] Evercore Private Capital Advisory
  7. ^ Pital, Sisal S., "Ex-Evercore director guilty of insider trading", MarketWatch, April 3, 2014. Retrieved 2014-04-03.
  8. ^ Calder, Rich and Josh Kosman, "Perk Hixon, ex-Evercore banker, to plead guilty to insider trading", New York Post, April 2, 2014. Retrieved 2014-04-03.

External links[edit]