Evercore acquired Private Funds Group of Neuberger Berman (PFG) for Initial consideration of approximately $1.0 million plus revenue-based contingent (earn-out) consideration, a transaction completed in February 2010, structured as cash plus contingent earn-out. The deal was a Asset purchase.
Private Funds Group of Neuberger Berman (PFG) operates in Investment Banking - Private Funds Group placement, is based in United States. Private funds placement business acquired from Neuberger Berman. The transaction added private-fund advisory and placement mandates and client relationships to Evercore's Investment Banking segment.
In February 2010, the Company acquired assets of PFG for initial consideration of $1,000 and contingent consideration based on future revenues earned.
Added private-fund placement mandates and limited-partner client relationships to the Investment Banking segment. Acquired Mandates and Client Relationships recognized as intangibles in the Investment Banking segment. Integrated into Evercore's Investment Banking (Private Funds Group)
In February 2010, the Company acquired assets of PFG for initial consideration of $1,000 and contingent consideration based on future revenues earned. The transaction resulted in goodwill of $990 and intangible assets relating to Acquired Mandates and Client Relationships.Evercore FY2011 10-K, Acquisitions note (dollars in thousands)
Advisory firms were not disclosed for this transaction.