Wednesday, 7 December 2016
Last updated 12 min ago
Jan 3 2012 | 1:52pm 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.