Evercore acquires Atalanta Sosnoff Capital, LLC

Evercore acquired Atalanta Sosnoff Capital, LLC for $68.6 million cash for a 49% economic interest (cash paid of approximately $68,992 thousand at close), a transaction completed in May 2010, structured as all cash (49% economic interest) plus contingent earn-out.

Atalanta Sosnoff Capital, LLC operates in Investment Management - Institutional Asset Management, is based in New York, United States, had revenue of about Contributed revenue of $43,617 thousand (FY2011) and $27,079 thousand (FY2010) to Evercore's consolidated results. New York-based investment manager focused on managing large-cap U.S. equity and balanced accounts for institutional, high-net-worth and broker-advised clients. Evercore purchased an interest representing a 49% economic interest; senior management of Atalanta Sosnoff retained the remaining 51% economic interest.

Atalanta Sosnoff was purchased to expand the Company's asset management capabilities.

Stable, recurring institutional and high-net-worth client relationships in large-cap U.S. equity management. Goodwill of $80,209 thousand and client-relationship intangibles of $39,700 thousand recognized in the Investment Management segment; Evercore consolidates Atalanta Sosnoff via majority vote of its Management Committee. Operated as Atalanta Sosnoff within Evercore's Institutional Asset Management (Investment Management segment)