Evercore Partners Inc. and private equity firm Trilantic Capital Partners have announced a strategic alliance to bolster Trilantic’s private equity investment opportunities as well as the growth of Trilantic’s business.
Evercore Partners Inc.(“Evercore”) (NYSE: EVR) and private equity firm Trilantic Capital Partners (“Trilantic”) have announced a strategic alliance to bolster Trilantic’s private equity investment opportunities as well as the growth of Trilantic’s business. Under the deal terms, once the required consents are received, Evercore plans to issue 500,000 restricted share equivalents with a minimum redemption value on December 31, 2014 of $16.5 million. In exchange for Evercore’s restricted share equivalents, Evercore will obtain a minority interest in Trilantic’s current global fund. Evercore will also commit 2.5%, up to $50 million, in exchange for a minority economic interest in Trilantic’s next private equity fund.
The firms will remain independent while leveraging their respective strengths in the strategic alliance. The firms anticipate that Evercore’s M&A and restructuring advisory business and its private equity team will help to enlarge Trilantic’s investment opportunities as well as to provide support for Trilantic’s fund raising initiatives. Trilantic currently manages two institutional private equity funds with an aggregate capital commitment of approximately $3.9 billion.
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