PeHUB reported the news, citing four people with knowledge of the matter.
Evercore launched its new Private Capital Advisory business in July last year after poaching its second top executive from UBS within a month.
Nigel Dawn, who resigned as head of UBS’ private equity secondaries department in June, was been appointed global head of PCA by Evercore, which hopes to expand the services it offers to leading institutional investors and fund sponsors.
UBS replaced Dawn with Philip Tsai and Nicolas Lanel as co-heads of the department, but Lanel also jumped ship to become the European head at PCA.
The PCA business is majority owned by Evercore with key principals, including Dawn and Lanel, owning the minority stake.
Evercore president and CEO Ralph Schlosstein said at the time, “The PCA business fits perfectly into the Evercore model of providing independent advisory services to our clients based on our ideas, our intellectual capital and our relationships.
“We believe this business leverages the relationship network and market presence of our firm.
“We are excited that we have brought together a highly experienced team to lead this business and we are confident that they will build a strong global franchise that augments Evercore’s ability to serve leading investors and fund sponsors worldwide.”
Copyright © 2014 AltAssets