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Evercore Signs Brazilian Advisory Agreement
The CEO of Evercore's partner in joint venture used to run Goldman's Latin American operations.
August 15, 2008
Evercore Partners has formed an alliance with Brazilian counterpart G5 Advisors to jointly work on cross-border transactions involving Brazilian companies.
Under the terms of the agreement, Evercore and G5 will co-advise on strategic cross-border M&A deals between Brazilian companies and other parties based outside of South America. In the future, Evercore and G5 could also advise on cross-border transactions involving companies in other South American nations.
"Evercore's strategic alliance with G5 Advisors is another step in the globalization of our firm, enabling us to expand our presence in South America and provide superior advice and execution for our clients," said Roger Altman, chairman and chief executive of Evercore, in a statement. "G5 has assembled a world-class team, and we are very pleased to be working with them. Brazil, Latin America's largest economy, continues to grow in importance globally."
Evercore has two offices in Mexico, but none in Brazil or any other Latin American country.
Sao Paulo-based G5 was established in 2007. Its CEO, Corrado Varoli, previously headed Goldman Sachs' Latin American operations. One of the firm's senior partners, Francisco Gros, is a former governor of the Brazilian central bank, Banco Central do Brasil, and used to be CEO of the Brazilian national petroleum company, Petrobras.
Bulge brackets such as Merrill Lynch have been bulking up Brazilian operations (see related story).
For an in-depth article on foreign private equity firms' interest in Brazil, click here.
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