Evercore Wealth Management, a unit of Evercore Partners, said Wednesday that it has agreed to buy Mt. Eden Investment Advisors. Financial terms were not announced. San Francisco-based Mt. Eden is a wealth management firm with $645 million in client assets as of Sept. 30. The firm also named three new partners: Keith Williams, Mt. Eden’s founder, CEO and chief investment officer; Tim Barrett, a Mt. Eden founding principal; and Michael O’Brien, a Mt. Eden senior portfolio manager. The sale to Evercore is expected to close in fourth quarter.
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Dana Pawlicki has joined Stonington Capital Advisors as a Managing Partner effective Sept. 10. He joins from Evercore Partners’ private funds group where he was a founding partner. At Evercore, Pawlicki worked for three years as MD–head of origination and project management. PRESS RELEASE Dana Pawlicki has joined Stonington Capital Advisors as a Managing Partner effective [...]
Cox Target Media had acquired Savings.com and sister-site, Savoo.co.uk. Financial terms weren’t announced. Savings.com, of Los Angeles, provides personalized deals. In 2008, Savings.com raised $4 million in series B funding led by U.S. Venture Partners.Eric Mandl and Jason Sobol of Evercore Partners advised Savings.com. PRESS RELEASE Cox Target Media has completed its acquisition of Savings.com, including [...]
Investment banking advisory firm Evercore Partners has appointed George Estey as senior managing director and head of Canada. He will be based in the firm’s new Toronto office which will be open on August 13th. PRESS RELEASE Evercore Partners Inc. (NYSE: EVR) announced today that George Estey has agreed to join the Firm’s Investment Banking [...]
Evercore Partners Inc. has completed its acquisition of a 45% non-controlling interest in ABS Investment Management, the firm announced Thursday. ABS Investment Management is an institutionally focused equity long/short hedge fund-of-funds manager. ABS has offices in Greenwich, Zurich and Hong Kong.
Evercore Partners is paying $45 million to acquire a 45% non-controlling interest in ABS Investment Management. ABS Investment is an equity long/short hedge fund-of-funds manager. The deal is expected to close during the fourth quarter of this year.
Tim Main has joined Evercore Partners‘ investment banking business as a senior advisor. He will be based in New York and will focus on advising clients in the financial services industry. He most recently ran the North American Financial Institutions Group (FIG) at JPMorgan Chase and was co-head of the global FIG Group.
Boston-based investment firms ABRY Partners and Berkshire Partners have acquired The Telx Group Inc. Telx, based in New York, is a provider of global interconnection and colocation services. Terms of the transaction were not disclosed. Evercore Partners served as financial advisor to Telx on the transaction and Paul Hastings LLP served as legal advisor.
Evercore Partners has added Tim Carlson to its investment banking business as a senior managing director. Carlson will be based in Houston and will focus on advising companies in the oil and gas industry. Carlson was most recently a managing director in J.P. Morgan’s global natural resources group.
The value of U.S. tech/telecom M&A has nearly doubled so far in 2011.
There were 1,914 transactions so far this year, valued at a combined $209.9 billion, according to data from Dealogic. This compares to 2,210 deals that occurred in 2010, totaling $107.3 billion.
As expected, bulge bracket firms like Morgan Stanley and JPMorgan dominated the top 10 of U.S. advisors. But some independent boutiques, such as Evercore Partners and Qatalyst Partners, are making major headway.
In fact, of all the top 10 advisors, it is Frank Quattrone’s IB that posted the biggest gains. Last week, Qatalyst Partners scored two big deals. The San Francisco IB advised Autonomy which is being sold to HP for $11.72 billion, as well as the $12.94 billion sale of Motorola Mobility Holdings to Google. With both of these deals, Qatalyst vaulted into the top 10 of U.S. tech advisors, Dealogic says.
But Qatalyst isn’t the only player in town. Citi, Goldman Sachs and Credit Suisse also posted made major jumps for U.S. tech/telecom advisors, according to Dealogic.
So here’s the list of the top 10 U.S. M&A advisors for tech/telecom deals, according to Dealogic. The rankings are as of Aug. 22, 2011.