Evercore senior MD departs the firm

A senior managing director in Evercore‘s New York secondary advisory team has left the firm.

Rodney Reid is to join Moelis & Company as a managing director and global head of private funds advisory, according to a statement from the New York-headquartered investment bank. He starts in April.

Reid will oversee the integration of Moelis’s primary fundraising- and secondaries advisory- businesses, working in close partnership with the firm’s financial sponsor advisory bankers, the statement noted.

“Over the past few years we have seen an exponential expansion of capital available for alternative assets, creating more avenues for financial sponsors to access diverse capital sources for new and existing funds and, increasingly, a breadth of capital for portfolio companies beyond traditional IPOs or strategic asset sale exits,” said co-president Navid Mahmoodzadegan in the statement.

Reid joined Evercore in 2014 after eight years at UBS, where he was head of EMEA secondary advisory, according to his LinkedIn profile. He was promoted to partner in February 2019 alongside Jarrett Vitulli, a real estate secondaries specialist.

In 2017 the former European fund placement and secondaries head at Lazard, Pablo De La Infiesta, joined Moelis as managing director and EMEA head of private funds advisory, as Secondaries Investor reported.

Among the deals Moelis has advised on are the restructuring of Bridgepoint Europe IV, which was led by HarbourVest Partners. Bridgepoint is owner of Secondaries Investor‘s parent company PEI Media.

There has been frequent turnover in the secondaries advisory market over the last 12 months, with PJT Partners gaining new leadership and entrants such as Guggenheim Securities, Jefferies and Rothschild & Co., as Secondaries Investor has reported.