River Street founder moves to Evercore

River Street founder Jake Stuiver has left the firm and has joined Evercore's secondaries advisory team.

Jake Stuiver, founder and former managing director at secondary advisory boutique River Street Capital,  has left to join investment banking advisory firm Evercore Partners. His has assumed the role of vice president on the secondary advisory team at the firm’s New York office.

Stuiver founded River Street Capital after working as a private equity reporter for Harrison Scott Publications.

Evercore formed its capital advisory group in 2013 and the team is headed up by managing director Nigel Dawn. Dawn formerly led the secondary advisory unit at UBS AG and is credited with established the Swiss bank’s secondary advisory business in Europe.

Helge Petermann remains at River Street as managing director. A German national, Petermann formerly worked at global fund manager Capital Dynamics for six years as well as Rothschild, Merrill Lynch and Morgan Stanley before that.

River Street Capital is based in New York and specialises in advising on secondary transactions including direct secondaries and the restructuring of fund investments. The firm has a focus on middle market transactions ranging from $10 million to $150 million.

Evercore Partners has 21 office in nine countries and operates in two segments, investment banking and investment management and has advised on multiple secondaries transactions.

Last month, Secondaries Investor reported that the firm was at the centre of a deal which saw Paris-based Ardian pick up a $1 billion portfolio of 350 fund assets from US giant GE.