Evercore Buys Stake In ABS

Jan 3 2012 | 2:52pm ET

Evercore Partners has completed its acquisition of a big chunk of fund of hedge funds ABS Investment Management.

The investment bank announced the closing of the purchase on Thursday. The deal, for 45% of ABS was announced in November.

Greenwich, Conn.-based ABS has $3.5 billion in assets under management; founders Alain de Coster, Guilherme Ribeiro and Laurence Russian will continue to manage the firm and its employees continue to own a controlling stake.

Evercore reportedly paid about $45 million for the stake.


In Depth

Q&A: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...