Advisory
We provide confidential, strategic and tactical advice to both public and private
companies, with a particular focus on large, multinational corporations, as well
as for select institutional investors and government institutions. By virtue of
their prominence, size and sophistication, many of our clients are more likely
to require expertise relating to larger and more complex situations. We are advising
or have advised on numerous noteworthy transactions during the past three years,
including:
EMC on its sale to Dell and its owners, Michael S. Dell, MSD Capital and Silver
Lake
DuPont in its announced merger with Dow Chemical; its spinoff of Chemours and
its successful proxy fight with Trian Fund Management
Shire on its pending acquisition of Baxalta as well as its acquisition of Dyax
The Special Committee of the Board of Directors of Broadcom on its sale to Avago
Technologies
The Bazalgette Consortium of infrastructure investors on its successful bid
to finance, deliver, and own the Thames Tideway Tunnel, a major greenfield sewerage
pipeline project in London, England
CVS Health on its acquisition of Omnicare
Tokio Marine on its acquisition of HCC Insurance Holdings
Abbott Laboratories on its acquisition of Alere
Energy Future Holdings on the restructuring of its debt
Cable & Wireless Communications on its acquisition of Columbus International
and on its sale to Liberty Global
SilverLake Partners on its sale of IPC Systems to Centerbridge Partners
Old Mutual on the IPO of OM Asset Management
AstraZeneca on its successful defense against Pfizer’s unsolicited approach
Macquarie Infrastructure Fund IV and Wren House Infrastructure on the acquisition
of E.ON’s operations in Spain and Portugal
The Disinterested Directors of the Board of Chrysler Group on the purchase of
the VEBA's 41.5% member interests by Fiat
AT&T on its acquisition of Leap Wireless International
CLP Holdings on the acquisition, together with China Southern Power Grid, of
ExxonMobil's majority stake in its Hong Kong electricity business
Primaris Retail REIT on its defense from a hostile suitor and ultimate sale
to H&R REIT
Our approach is to work as a trusted senior advisor to top corporate officers
and boards of directors, helping them devise strategies for enhancing shareholder
value:
Objective Advice with a Long-Term Perspective. We seek to recommend shareholder
value enhancement strategies or other financial strategies that we would pursue
ourselves were we acting in management’s capacity. This approach often
includes advising our clients against pursuing transactions that we believe
do not meet that standard.
Transaction Excellence. Since the beginning of 2000, we have advised on over
$2.0 trillion of announced transactions, including acquisitions, sale processes,
mergers of equals, special committee advisory assignments, recapitalizations
and restructurings.
Senior Level Attention and Experience. The Senior Managing Directors in our
advisory business participate in all facets of client interaction, from the
initial evaluation phase to the final stage of executing our recommendations.
We advise clients in a number of different situations across many industries
and geographies, each of which may require various services:
Mergers and Acquisitions. When we advise companies about the potential acquisition
of another company or certain assets, our services include evaluating potential
acquisition targets, providing valuation analyses, evaluating and proposing
financial and strategic alternatives and rendering, if appropriate, fairness
opinions. We also may advise as to the timing, structure, financing and pricing
of a proposed acquisition and assist in negotiating and closing the acquisition.
Divestitures and Sale Transactions. When we advise clients that are contemplating
the sale of certain businesses, assets or their entire company, our services
include evaluating and recommending financial and strategic alternatives with
respect to a sale, advising on valuation issues and the appropriate sales process
for the situation, assisting in preparing an offering memorandum or other appropriate
sales materials and rendering, if appropriate, fairness opinions. We also identify
and contact selected qualified acquirers and assist in negotiating and closing
the sale.
Special Committee and Fairness Opinion Assignments. We are well known for our
independence, quality and thoroughness and devoting senior-level attention throughout
the project lifecycle. We believe our objectivity, integrity and discretion
allow us to provide an unbiased perspective.
Restructuring. We provide financial advice and investment banking services to
companies in financial transition, as well as to creditors, shareholders and
potential acquirers. Our services may include reviewing and analyzing the business,
financial condition and prospects of the company or providing advice on strategic
transactions, capital raising or restructurings. We also may provide advisory
services to companies that have sought or are planning to seek protection under
Chapter 11 of the U.S. Bankruptcy Code or other similar processes in non-U.S.
jurisdictions.
Capital Markets. We serve as an objective advisor to corporations and financial
sponsors on a broad array of financing issues. We have developed an expertise
in assisting clients with respect to the entire spectrum of capital structure
decisions. In addition, we act as an underwriter in public offerings and private
placements of debt and equity securities in the U.S. and internationally.
Private Funds. We advise fund sponsors in the U.S. and internationally on all
aspects of the fundraising process and have expanded our platform to include
advising on secondary transactions for private funds interests.
We strive to earn repeat business from our clients. However, we operate in
a highly competitive environment in which there are no long-term contracted
sources of revenue. Each revenue-generating engagement is separately negotiated
and awarded. To develop new client relationships and to develop new engagements
from historical client relationships, we maintain an active dialogue with a
large number of clients and potential clients, as well as with their financial
and legal advisors, on an ongoing basis. We have gained new clients each year
through our business development initiatives, through recruiting additional
senior professionals who bring with them client relationships and through referrals
from directors, attorneys and other third parties with whom we have relationships.
Equities
Evercore ISI's leading analysts and distribution organization provides fundamental,
macroeconomic and policy research and transaction execution excellence to the
largest and most significant institutional and sovereign investors globally.
Equity Research. Our research analysts perform research to help our clients
understand the dynamics that drive the industries and companies under coverage.
We seek to differentiate ourselves through originality of perspective, depth
of insight and ability to uncover industry trends. Our research analysts cover
major industry developments, publish research on industry sectors, provide fundamental,
company-specific coverage and identify and evaluate investment opportunities
in publicly-traded companies.
Institutional Sales and Trading. Our professionals provide equity and listed
option securities sales and trading services to institutional investors and
seek to develop strong relationships with the portfolio managers and traders
they serve by working closely with our equity research professionals.
Investment Management
Our Investment Management segment includes Institutional Asset Management, in
the United States through Evercore Trust Company, N.A. ("ETC"), Atalanta
Sosnoff Capital, LLC ("Atalanta Sosnoff") and ABS Investment Management,
LLC ("ABS") and in Mexico through Evercore Casa de Bolsa, S.A. de
C.V. ("ECB"); Wealth Management, through Evercore Wealth Management
("EWM") and G5 Holdings S.A. ("G5 | Evercore"); personal
trust services through Evercore Trust Company of Delaware, established in 2016;
and Private Equity. Our Investment Management business principally manages and
invests capital on behalf of third parties, including a broad range of institutional
investors such as corporate and public pension funds, endowments, foundations,
insurance companies, family offices and high net-worth individuals. Our Investment
Management business is led by highly-experienced Portfolio and Client Relationship
Managers.
Institutional Asset Management
Within our Institutional Asset Management business, ETC provides specialized
investment management, independent fiduciary and trustee services and ECB primarily
manages Mexican fixed income products and offers fiduciary and trust services.
Atalanta Sosnoff manages large-capitalization U.S. equity and balanced products
and ABS is an institutionally focused hedge fund-of-funds manager. Atalanta
Sosnoff and ABS are each investments reported on the equity method of accounting.
Wealth Management
Wealth Management provides services through EWM and G5 | Evercore and personal
trust services through Evercore Trust Company of Delaware, established in 2016.
EWM targets clients with more than $5 million in investable assets and offers
services such as investment policy creation, asset allocation, customized investment
management, manager selection, performance reporting and financial planning.
Private Equity
Private Equity manages value-oriented, middle-market private equity funds in
Mexico. The Company previously managed funds in the U.S. While we do not intend
to raise Evercore-sponsored successor funds in the United States or Europe,
we maintain a strategic alliance to pursue private equity investment opportunities
with Trilantic
Capital Partners ("Trilantic").
In connection with the issuance of certain limited partnership interests in
Trilantic, the Company became a limited partner of Trilantic and is entitled
to receive 10% of the aggregate amount of carried interest in respect to all
of the portfolio investments made by Trilantic IV, up to $15.0 million. The
Company and its affiliates are passive investors and do not participate in the
management of any Trilantic-sponsored funds. Trilantic also agreed to pay an
annual fee to the Company equal to $2.0 million per year for a period of five
years, ending in 2014, as consideration for services to be performed by the
Company. In addition, as part of the strategic alliance, the Company agreed
to commit $5.0 million of the total capital commitments of Trilantic Capital
Partners V L.P. ("Trilantic V").