Evercore Partners has completed its acquisition of a 49% interest in investment advisor Atalanta Sosnoff Capital.
Evercore Partners Inc. (NYSE: EVR) today announced that it has completed the acquisition of a 49% economic interest in Atalanta Sosnoff Capital, LLC under the terms of the purchase agreement announced on March 5, 2010. Atalanta’s management team continues to own 51% of the company.
Atalanta manages assets for institutional, high net worth and broker advised clients, and is focused on managing large-cap U.S. equity and balanced accounts. After giving effect to this acquisition, Evercore’s reported assets under management as of May 31, 2010, were more than $15 billion.
Atalanta Sosnoff was advised in the transaction by Credit Suisse Securities (USA) LLC and Evercore acted as its own advisor.
About Evercore Partners
Evercore Partners is a leading independent investment banking firm. Evercore’s Investment Banking business advises its clients on mergers, acquisitions, divestitures, restructurings, financings, public offerings, private placements and other strategic transactions; Evercore’s Investment Management business comprises wealth management, institutional asset management and private equity investing. Evercore serves a diverse set of clients around the world from its offices in New York, Boston, Houston, Los Angeles, San Francisco, Washington D.C., London, Mexico City and Monterrey, Mexico. More information about Evercore can be found on the Company’s Web site at www.evercore.com.
About Atalanta Sosnoff
Atalanta Sosnoff is an independent registered investment advisor which provides investment advisory services on a discretionary basis to corporations, tax exempt funds such as pension and other plans, charitable organizations such as endowments and foundations, Taft-Hartley funds, governmental entities, broker sponsored wrap programs and high net worth individuals.