Evercore acquires International Strategy & Investment (ISI Group) / Evercore ISI

Evercore acquired International Strategy & Investment (ISI Group) / Evercore ISI for Up to approximately 8 million Evercore share equivalents across the two transactions, with almost 70% of the consideration dependent on the combined business's financial performance over the five years following closing, a transaction completed in October 2014, structured as stock (share equivalents), majority performance-contingent.

International Strategy & Investment (ISI Group) / Evercore ISI operates in Investment Banking - Equities (research, sales and agency trading), is based in United States (seven principal U.S. offices) and London, United Kingdom. Elite independent, institutionally oriented investment research firm founded in 1991, providing macroeconomic, policy and fundamental equity research. At announcement ISI had 28 research analysts covering 345 companies in 10 major industry sectors and 226 employees across seven principal U.S. offices plus a London office. Evercore also acquired the approximately 40% interest in its Institutional Equities business it did not already own. The combined business operates as Evercore ISI.

The acquisition positions Evercore as an elite and scaled provider of non-proprietary capital markets advice and execution, broadening Evercore's Investment Banking business and expanding its growth opportunities.

ISI's 28 analysts were among the most highly regarded in the industry, with 32% ranked #1 or #2 by Institutional Investor, covering ~60% of the combined market cap of the S&P 500 and serving more than 1,500 institutional investors globally. Created Evercore ISI, one of the two leading independent equity research, sales and agency trading businesses in the U.S., broadening Evercore's capital markets advice and execution. Combined into Evercore ISI Institutional Equities within the Investment Banking segment

Advisory firms were not disclosed for this transaction.