Evercore has announced its plans to expand its investment banking platform by establishing a Private Capital Advisory (PCA) business focused on secondary transactions for private funds interests.
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Nigel Dawn and Nicolas Lanel have agreed to join Evercore to lead the business. The Evercore PCA business will be majority owned by Evercore with key principals, including Dawn and Lanel, owning the minority stake.
Dawn will run PCA globally while Lanel will head up the European operation. Dawn was most recently managing director and global co-head of the private funds group at UBS. Lanel was most recently managing director and global co-head of secondary advisory at UBS, where he led the expansion of the business into Europe.
The Evercore PCA business is expected to launch during the second half of 2013 following the recruiting of additional professionals to support the business in North America and Europe.
The company said that the new business complements the capital raising advisory services provided by Evercore’s Private Funds Group and the strategic and merger advisory services offered by Evercore’s Advisory business generally.
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By GlobalDataRalph Schlosstein, president and CEO of Evercore, said: "The PCA business fits perfectly into the Evercore model of providing independent advisory services to our clients based on our ideas, our intellectual capital and our relationships. We believe this business leverages the relationship network and market presence of our firm."
