Evercore acquires Private Funds Group of Neuberger Berman (PFG)
Snapshot
Evercore acquired Private Funds Group of Neuberger Berman (PFG) for Initial consideration of approximately $1.0 million plus revenue-based contingent (earn-out) consideration in February 2010. The transaction was structured as cash plus contingent earn-out. Private Funds Group of Neuberger Berman (PFG) is a United States-based Investment Banking - Private Funds Group placement business.
- Acquirer
- Evercore
- Target
- Private Funds Group of Neuberger Berman (PFG)
- Value
- Initial consideration of approximately $1.0 million plus revenue-based contingent (earn-out) consideration
- Date
- February 2010
- Type
- asset purchase
- Status
- ready
The deal at a glance
About this deal
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)
No advisory firms have been disclosed for this transaction.