Evercore Buys Property Dealmaker Kuna, Adding Buyout Clients

Updated on

Evercore Partners Inc., the merger-advisory firm founded by Roger Altman, agreed to acquire Kuna & Co. to expand dealmaking for commercial property in Germany.

Kuna’s clients include Cerberus Capital Management, Blackstone Group LP and German family offices, the New York-based buyer said in a statement Wednesday that didn’t disclose terms. The target company, with a team of 10, has worked on more than 25 billion euros ($27 billion) of transactions and was founded by Walter Kuna, who was named senior managing director of Evercore’s German advisory business.

Evercore has been expanding in Europe by hiring dealmakers this year including JPMorgan Chase & Co.’s Anil Rachwani for technology and E. Thomas Massey, formerly of Citigroup Inc., for chemicals. The firm purchased U.K.-based Lexicon Partners in 2011, which built its team to more than 300 bankers, including 76 in London.

The deal for Frankfurt-based Kuna “should further complement Evercore’s recent additions of senior bankers in the debt advisory, chemicals and technology verticals in Europe,” Joel Jeffrey, an analyst at Keefe, Bruyette and Woods Inc., said in a note to clients.

Kuna was founded in 2004 and has also worked on deals in the retail and industrials segments. Walter Kuna received his PhD from Johann Wolfgang Goethe University in Frankfurt and previously worked at Lazard Germany, according to the statement.

‘Complex Transactions’

“We are delighted to welcome Walter and his team,” Ralph Schlosstein, Evercore’s chief executive officer, said in the statement. “Kuna & Co. has built a very successful and profitable business with a strong track record in executing large and complex transactions.”

The business will be rebranded Evercore when the deal is completed, which is expected in July, according to the statement.

Evercore climbed 0.2 percent to $49.35 at 10:38 a.m. in New York trading.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE