(Reuters) – U.S. merger advisory boutique Evercore Partners Inc (EVR.N) has agreed to take a stake in Trilantic Capital Partners in an effort to support the private equity firm’s investments.
As part of the deal, Evercore will issue 500,000 restricted shares, with a minimum redemption value of $16.5 million on Dec. 31, 2014, for a minority stake in Trilantic’s current global fund.
Evercore also will commit up to $50 million to Trilantic’s next private equity fund when it is raised, in exchange for a minority economic interest in that fund, Evercore said in a statement.
Evercore Capital Partners, led by James Matthews and Neeraj Mital, will continue to independently manage Evercore’s existing private equity funds, it said.
Shares of Evercore closed at $30.09 Thursday on the New York Stock Exchange. (Reporting by Sweta Singh in Bangalore; Editing by Unnikrishnan Nair)