Law360, New York (November 14, 2011, 11:50 AM ET) -- Evercore Partners Inc. agreed to take a noncontrolling stake in ABS Investment Management LLC, which specializes in hedge fund investment strategies, for $45 million, the financial advisory and investment banking firm said Monday.
New York-based Evercore's investment gives it a 45 percent stake, valuing Greenwich, Conn.-based ABS, which has 24 employees total, at $100 million.
The deal comes two weeks after Evercore announced an alliance with Kotak Mahindra Capital Co. Ltd., a unit of Indian investment bank Kotak Mahindra Bank Ltd., to work on cross-border mergers...
Evercore Takes $45M Minority Stake In ABS Investment
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