Evercore establishes PCA business

The PCA business will focus on secondary transactions for private fund interests. It is expected to launch during the second half of 2013 following the recruitment of professionals to support the business in Europe and the US.

The new division complements Evercore's Private Funds Group's capital raising advisory services, as well as the firm's strategic and merger advisory services. It expands the services to institutional investors and fund sponsors.

Nicolas Lanel and Nigel Dawn will be leading the new business. Lanel will head the European PCA, while Dawn will run its global operations. Lanel joins from UBS, where he was the managing director and global co-head of Secondary Advisory. Dawn was most recently the managing director and global co-head of the Private Funds Group at UBS.

Evercore will hold a majority stake in the PCA business, with key principals including Lanel and Dawn owning a minority stake.

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