Evercore to buy Hyman’s ISI to Add Research and Trading

Evercore Partners Inc. agreed to buy closely held International Strategy & Investment Group LLC in an all-stock transaction as it seeks to expand its research and trading business.

Evercore will issue as many as 8.1 million share equivalents to buy both ISI and the 40 percent of its own equities business that it doesn’t already own, according to a presentation from the company today. Almost 70 percent of the payout is contingent on the five-year performance of the combined business, Evercore ISI Institutional Equities, after the transaction closes, according to the presentation.