Evercore Partners Inc. agreed to acquire a 49% economic interest in investment advisor Atalanta Sosnoff Capital (an S&K client) for approximately $69 million in cash, plus potential earnout payments.
On March 5, 2010, Evercore Partners Inc. (NYSE: EVR) announced that it had agreed to acquire a 49% economic interest in Atalanta Sosnoff Capital, LLC for approximately $69 million in cash, with the potential for earnout payments of up to $14.7 million based on 2010 performance. Atalanta Sosnoff, founded in 1981, is a registered investment advisor which manages more than $10 billion of assets for institutional, high net worth and broker advised clients. A Seward & Kissel team led by partners James Abbott, Craig Sklar and Paul Miller, and including counsel Peter Pront and Bibb Strench and associates David Lee, Michael O’Brien, Jennifer Pearson, Kristin Switzer and Kathryn Hall, represented Atalanta Sosnoff and its management team in connection with this transaction.
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