Founded in 1996 by Blackstone and U.S. Treasury veteran Roger
Altman, investment banking boutique Evercore went public in August
2006 with an $82.9 million initial public offering. Its public
debut was astonishing: Evercore's revenues increased 47 percent in
2006 while net income rose 80 percent. Since, the firm has grown
into an elite investment bank and investment management firm,
employing over 1,000 people. In the U.S., Evercore operates from
offices in New York, Los Angeles, San Francisco, Boston, Houston,
Minneapolis, the District of Columbia, and Waltham, Mass.
Internationally, it has offices in Hong Kong; London and Aberdeen,
U.K.; Toronto, Canada; and Mexico City and Monterrey, Mexico. It
also has alliances in Japan, China, Brazil, India, and South Korea.
In 2011, Evercore acquired the European advisory firm Lexicon
Partners, adding about 100 employees, including 65 bankers.
Today, the firm's investment banking business includes corporate
advisory (mergers and acquisitions, restructuring advisory, and
capital raising), serving both public and private companies, with
an emphasis on large multinational corporations. Recent M&A
deals include Dell's $18.2 billion sale to Michael Dell and Silver
Lake Partners, Ally Financial's $4 billion the sale of its Canadian
operations to Royal Bank of Canada, Southern Union's $9 billion
merger with Energy Transfer, Exelon's $11 billion merger with
Constellation Energy, AT&T's $39 billion acquisition of
T-Mobile, and Lubrizol's $10 billion sale to Berkshire Hathaway.
The firm is also involved in equity sales, trading, and research.
And its investment management unit provides money managing services
to institutional investors and high-net-worth individuals. Evercore
is led by Roger Altman, its co-chairman, and Ralph Schlosstein, its
president and CEO who previously co-founded and served as president
for investment management giant BlackRock.