NEW YORK, July 20, 2016 /PRNewswire/ --

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Evercore (NYSE: EVR) and the principals of its Mexican private equity business, Evercore Mexico Capital Partners ("EMCP"), today announced their plan to transfer control of the business to a new entity formed by the principals. Under the plan:


    --  The EMCP team, led by Mr. Alfredo Castellanos, has formed a new entity,
        Glisco Partners Inc. ("Glisco"), which will assume all responsibility
        for management of the existing EMCP funds, which currently manage $266
        million of invested capital. Dr. Pedro Aspe, the Chairman of Evercore
        Partners Mexico, will continue to serve on the Investment Committee for
        the EMCP funds.
    --  As consideration for the transfer of ownership, Evercore will receive a
        fixed percentage of the management fees earned by Glisco for a period of
        up to ten years, as well as a portion of the carried interest in the
        next two successor funds. Evercore will commit to invest capital in
        those successor funds consistent with the level of carried interest it
        owns and will retain its carried interest and its capital interests in
        the existing EMCP funds, which have an aggregate carrying value of $12.4
        million as of March 31, 2016.
    --  A transition services agreement providing operational support to Glisco
        will be in place for up to 18 months.
    --  Completion of the transaction, which is subject to consent by the
        Limited Partner Advisory Committee of the EMCP funds and regulatory
        approval in Mexico, is expected to occur before the end of 2016.

Ralph Schlosstein, President and Chief Executive Officer of Evercore, said, "This transaction represents another step forward in our strategy of continuing to invest in our independent, unconflicted Investment Banking businesses while positioning our Investment Management affiliates to continue to grow and develop, sustaining exceptional unconflicted service to their investor clients. We are committed to supporting Alfredo and his colleagues as they launch Glisco as an independent company and will remain as significant investors in their funds for many years to come."

Alfredo Castellanos, Managing Partner of Glisco Partners, added, "We have worked hard for the past 13 years to provide investors with unique high growth investment opportunities in Mexico, working closely with our colleagues at Evercore. We are excited to take the business to the next level, having received the highly valued support of our limited partner investors and Evercore. In our future funds we expect to maintain the same strategy as our previous funds. We will continue to work diligently to maintain our investors' trust in creating value and strong returns in the exciting chapter ahead."

Dr. Pedro Aspe, Chairman of Evercore Mexico, said, "I am very pleased with the growth attained by the private equity business. I am committed to supporting EMCP's transition to an independent company and continuing to serve the funds' limited partner investors as a member of the Investment Committee."

About Evercore

Established in 1995, Evercore is a leading global independent investment banking advisory firm. Evercore advises a diverse set of investment banking clients on a wide range of transactions and issues and provides institutional investors with high quality equity research, sales and trading execution that is free of the conflicts created by proprietary activities. The firm also offers investment management services to high net worth individuals and institutional investors. With 28 offices in North America, Europe, South America and Asia, Evercore has the scale and strength to serve clients globally through a focused and tailored approach designed to meet their unique needs. More information is available at www.evercore.com.

About Glisco Partners

Glisco is a newly-created, independent private equity firm, organized to manage the invested capital in Evercore Mexico Capital Partners Funds II and III, and successor funds. Glisco is focused on making influential minority investments in high-growth, middle-market Mexican companies, and partnering with these companies' equity owners and management teams to create shareholder value. The investment team is located in Mexico City comprising ten experienced investment professionals with deep local knowledge.



    Investor Contact:            Robert B. Walsh

                                 Chief Financial Officer, Evercore

                                 +1.212.857.3100


    LP Contact:                  Alfredo Castellanos

                                 Managing Partner, Glisco Partners

                                 +52.55.5249.4386


    Media Contact:               Dana Gorman

                                  The Abernathy MacGregor Group, for
                                  Evercore

                                 +1.212.371.5999

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SOURCE Evercore