Thursday, 29 January 2015
Last updated 5 hours 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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…