Evercore Adds UBS Executives for Private Capital BusinessLaura Marcinek
Evercore Partners Inc., the investment bank founded by former U.S. Deputy Treasury Secretary Roger Altman, hired UBS AG’s Nigel Dawn and Nicolas Lanel to lead a new private capital advisory business.
Dawn, 48, who will oversee the unit globally, was previously a managing director and global co-head of the private funds group at UBS, New York-based Evercore said today in a statement. Lanel, 44, who will lead the European operation, was a managing director and global co-head of secondary markets advisory at the Zurich-based bank, according to the statement.
The new business, scheduled to start in the second half, will focus on secondary transactions for private funds, according to the statement. Evercore, run by Chief Executive Officer Ralph Schlosstein, operates a private funds group that provides advice on capital raising and private-equity investments for clients including general partners.
“We believe this business leverages the relationship network and market presence of our firm,” Schlosstein, 62, said in the statement. “We are excited that we have brought together a highly experienced team to lead this business.”
The unit will be majority owned by Evercore alongside key principals, including Dawn and Lanel, the firm said. Evercore will start the business after it hires additional employees in North America and Europe, according to the statement.
Evercore fell 1.8 percent to $39.25 at 12:41 p.m. in New York. The shares have gained 30 percent this year, compared with the 18 percent advance of the Standard & Poor’s SmallCap Financials Index.