Evercore Partners, the New York-based investment advisory business, has continued its expansion in the real estate sector with the purchase of boutique real estate services firm MJC Associates for an undisclosed sum.
The purchase sees MJC founder Martin Cicco become director and head of Evercore’s real estate advisory team. Prior to founding MJC, Cicco was vice chairman of global commercial real estate and global head of real estate investment banking at Merrill Lynch.
Evercore has been growing its business of late via mergers, the most recent of which was the capture of the private funds business of Neuberger Berman, the former asset management division of Lehman Brothers, in February. That deal saw Evercore break into alternative asset fund management advisory services.
Eduardo Mestre, vice chairman of Evercore Partners said of the investment in MJC Associates: “The addition of Marty and his team broadens Evercore’s industry and sector coverage to commercial real estate where there is a substantial opportunity for M&A, restructuring and capital raising advice as the industry continues to recover.”