Evercore intends to expand its global investment banking platform by establishing a private capital advisory (PCA) business focused on secondary transactions for private funds interests.
This initiative expands the services that Evercore offers to institutional investors and fund sponsors, and complements the capital raising advisory services provided by Evercore’s private funds group and the strategic and merger advisory services offered by Evercore’s advisory business.
Nigel Dawn and Nicolas Lanel have agreed to join Evercore to lead the business. Dawn will run PCA globally while Lanel will head up the European operation.
Dawn, who was most recently managing director and global co-head of the private funds group at UBS, is a recognised leader in this business bringing more than 20 years of experience advising investors and fund sponsors.
Lanel was most recently managing director and global co-head of secondary advisory at UBS, where he led the expansion of the business into Europe.
The PCA business will be majority owned by Evercore with key principals, including Dawn and Lanel, owning the minority stake. The Evercore PCA business is expected to launch during the second half of 2013 following the recruiting of additional professionals to support the business in North America and Europe.
“The PCA business fits perfectly into the Evercore model of providing independent advisory services to our clients based on our ideas, our intellectual capital and our relationships. We believe this business leverages the relationship network and market presence of our firm,” says Ralph Schlosstein (pictured), president and chief executive officer of Evercore. “We are excited that we have brought together a highly experienced team to lead this business and we are confident that they will build a strong global franchise that augments Evercore’s ability to serve leading investors and fund sponsors worldwide.”
