Evercore Partners Inc has completed the purchase of a 45% non-controlling interest in ABS Investment Management, LLC, an institutionally focused equity long/short hedge fund-of-funds manager.
Under the terms of the purchase agreement announced on 14 November, 2011, ABS’s founders and employees continue to own 55% of the company. ABS manages over USD3.5 billion of hedge fund assets as of September 30, 2011 for institutional and high net worth clients in the Americas, Europe and Asia from its offices in Greenwich, Zurich and Hong Kong.
