* Evercore to issue 500,000 shares to Trilantic
* Evercore to commit up to $50 mln to Trilantic
(Recasts; Adds details about Trilantic Capital)
Feb 11 (Reuters) - U.S. merger advisory boutique Evercore Partners Inc agreed to take a stake in Trilantic Capital Partners, the $3.3 billion merchant banking arm spun out of Lehman Brothers.
As part of the deal, Evercore will issue 500,000 restricted shares, with a minimum redemption value of $16.5 million on Dec. 31, 2014, for a minority stake in Trilantic's current global fund.
Evercore also will commit up to $50 million to Trilantic's next private equity fund when it is raised, in exchange for a minority economic interest in that fund, Evercore said in a statement.
Luxembourg-based investment company Reinet Investments , controlled by South African billionaire Johann Rupert, holds about 49 percent stake in Trilantic Capital Partners.
Trilantic focuses on middle market investments in North America and Europe.
Evercore Capital Partners, led by James Matthews and Neeraj Mital, will continue to independently manage Evercore's existing private equity funds, it said.
Shares of Evercore closed at $30.09 Thursday on the New York Stock Exchange.
(Reporting by Sweta Singh in Bangalore; Editing by Unnikrishnan Nair) Keywords: EVERCOREPARTNERS/ (sweta.singh@thomsonreuters.com ; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: sweta.singh.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Evercore to commit up to $50 mln to Trilantic
(Recasts; Adds details about Trilantic Capital)
Feb 11 (Reuters) - U.S. merger advisory boutique Evercore Partners Inc agreed to take a stake in Trilantic Capital Partners, the $3.3 billion merchant banking arm spun out of Lehman Brothers.
As part of the deal, Evercore will issue 500,000 restricted shares, with a minimum redemption value of $16.5 million on Dec. 31, 2014, for a minority stake in Trilantic's current global fund.
Evercore also will commit up to $50 million to Trilantic's next private equity fund when it is raised, in exchange for a minority economic interest in that fund, Evercore said in a statement.
Luxembourg-based investment company Reinet Investments , controlled by South African billionaire Johann Rupert, holds about 49 percent stake in Trilantic Capital Partners.
Trilantic focuses on middle market investments in North America and Europe.
Evercore Capital Partners, led by James Matthews and Neeraj Mital, will continue to independently manage Evercore's existing private equity funds, it said.
Shares of Evercore closed at $30.09 Thursday on the New York Stock Exchange.
(Reporting by Sweta Singh in Bangalore; Editing by Unnikrishnan Nair) Keywords: EVERCOREPARTNERS/ (sweta.singh@thomsonreuters.com ; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: sweta.singh.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.