Evercore Partners

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Evercore
Public company
Traded as NYSEEVR
S&P 600 Component
Industry Investment banking
Founded 1995; 23 years ago (1995)
Founder Roger Altman
Headquarters 55 East 52nd Street
New York City, United States
Key people
Roger Altman
(Senior Chairman)
John S. Weinberg
(Executive Chairman)
Ralph Schlosstein
(President and CEO)
Products Investment banking
Investment management
Revenue Increase US$1.4 billion (2016)[1]
Increase $107 million (2016)[1]
Number of employees
1,525 (2016)[1]
Website www.evercore.com

Evercore[2] is a global independent investment banking advisory firm founded in 1995 by Roger Altman, David Offensend, and Austin Beutner.[3]

Evercore's Investment Banking business advises its clients on mergers and acquisitions, divestitures, restructurings, financings, public offerings, private placements and other strategic transactions and also provides institutional investors with macro and fundamental equity research, sales and trading execution. Evercore's Investment Management business comprises wealth management, institutional asset management and private equity investing. Evercore serves clients from 28 offices in North America, Europe, South America and Asia.[4]

Recent activities

To date, the firm has advised on more than $2 trillion of merger, acquisition, recapitalization, and restructuring transactions. Recent M&A assignments include advising Whole Foods on its $14 billion pending sale to Amazon; DuPont on its $68 billion merger of equals with The Dow Chemical Company; Tesla on its $2 billion acquisition of SolarCity; Abbott Laboratories on its $31 billion acquisition of St. Jude Medical; and Coach on its $2 billion acquisition of Kate Spade New York. The firm also offers investment management services to high net worth and institutional investors.

In August 2014, Evercore announced the acquisition of International Strategy & Investment ("ISI") Group for $440 million.[5][6][7] The deal was closed the following October to create Evercore ISI Institutional Equities, offering Macro and Fundamental Research, Sales, and Trading execution. In 2014, the firm secured the second highest number of Institutional Investor #1 positions, after J.P. Morgan, and also ranked #5 in total II positions.[8]

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[9] from 2010-2013. He resigned from the company earlier in 2014.[10]

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.[11]

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.[11]

In August 2011, the firm completed its acquisition of Lexicon Partners, an independent UK-based investment banking advisory firm.[11]

References

  1. ^ a b c [1]
  2. ^ "Evercore Partners Inc". The New York Times. ISSN 0362-4331. Retrieved 2017-09-25. 
  3. ^ Evercore Makes a Bid for Court TV - NY Times
  4. ^ Boyd, Michael (2017-08-08). "Evercore: Underfollowed Firm Has Great Potential". Seeking Alpha. Retrieved 2017-09-25. 
  5. ^ "Subscribe to read". Financial Times. Retrieved 2017-09-25. 
  6. ^ Roberts, Lee (2014-08-03). "Evercore Partners to Acquire ISI Group". Wall Street Journal. ISSN 0099-9660. Retrieved 2017-09-25. 
  7. ^ Roberts, Lee, "Evercore Partners to Acquire ISI Group", The Wall Street Journal, August 3, 2014
  8. ^ Hurst, Georgina, "Evercore ISI Deal May Be Wave of the Future", Institutional Investor, October 9, 2014.
  9. ^ Pital, Sisal S., "Ex-Evercore director guilty of insider trading", MarketWatch, April 3, 2014. Retrieved 2014-04-03.
  10. ^ 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.
  11. ^ a b c Evercore Partners 2011 Financial News

External links

  • Evercore (company website)
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