Evercore Fundraising Group Expands in Australia, Hires UBS’ Band
Evercore Partners Inc.’s teamed up with an Australian firm to help private-equity firms raise money in the region, and hired Jennifer Band from UBS AG to bolster the team that advises buyout firms based in Europe.
Evercore signed an exclusive affiliation with Phoenix Capital Advisory, founded by two former Lehman Brothers executives, to help attract private-equity clients in Australia and New Zealand as well as develop relationships with large investors there, according to a statement today.
New York-based Evercore’s is bulking up its fundraising offerings as leveraged-buyout firms are seeking more than $170 billion this year for new funds, more than what they sought in 2006 at the height of the private-equity boom, according to research firm Preqin Ltd. Nearly half of all private-equity fund managers plan to raise capital in 2011, according to a survey by Rothstein Kass, an advisory firm.
Buyout funds “are focused on attracting institutional investors with capital that is ready to be deployed, and in today’s challenging environment, Europe, Asia and Australia have become important sources of funds,” Richard Anthony, chief executive officer of Evercore Private Funds Group, said in the statement.
The group initiated its expansion into Asia earlier this year with the appointment of William Lee, based in Evercore’s Hong Kong office. Phoenix Capital Advisory was founded in 2009 by Matt Wormald and Mark Jackson.
Band, who joins from UBS’s private funds group, will be responsible for European-based project management and origination, according to the statement.
To contact the reporter on this story: Cristina Alesci in New York at calesci2@bloomberg.net
To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net
Rate this Page