Simpson Thacher is representing Evercore Partners in the purchase of a 45 percent stake in ABS Investment Management, an institutionally focused equity long/short hedge fund-of-funds manager with approximately $3.5 billion in assets under management. The transaction is expected to close by year end.
Evercore Partners is a leading independent investment banking advisory firm. Evercore's investment banking business advises its clients on mergers, acquisitions, divestitures, restructurings, financings, public offerings, private placements and other strategic transactions and also provides institutional investors with high quality research, sales and trading execution that is free of the conflicts created by proprietary activities; Evercore's investment management business comprises wealth management, institutional asset management and private equity investing. Evercore serves a diverse set of clients around the world from its offices in New York, Boston, Chicago, Houston, Los Angeles, Minneapolis, San Francisco, Washington D.C., London, Aberdeen, Scotland, Mexico City and Monterrey, Mexico, Hong Kong and Rio de Janeiro and Sao Paulo, Brazil.
The Simpson Thacher team for the transaction includes: Gary I. Horowitz, Ed Chung, Ryan M. Gavin, John A. Kupiec, Jona Lundborg (M&A); Olga Gutman, Michael Sabin (Funds); John J. Creed, Sean M. Austin (Tax); David Rubinsky, Douglas Tang (Executive Compensation and Employee Benefits); and Marcela Robledo (IP).