HighView, led by BlackRock Co-Founder and Former President Ralph Schlosstein, Will Seek Acquisitions of Minority Interests in Independent Alternative Asset Managers

Founding Investors Include Mr. Schlosstein, Evercore and Stone Point Capital

NEW YORK, Sept. 8 /PRNewswire-FirstCall/ -- Evercore Partners Inc. (NYSE: EVR) announced today that it will be a founding member of an investor group that includes BlackRock Co-Founder and former President Ralph Schlosstein and Stone Point Capital, among others, in launching HighView Investment Group. HighView's initial capital commitments exceed $600 million, including $50 million from Mr. Schlosstein and $150 million from Evercore, and will provide the initial funding for what is expected to be a significantly larger company. HighView, led by Mr. Schlosstein, is an asset management firm that will seek to acquire minority interests in independent alternative asset managers with more than $2 billion in assets under management across a broad range of geographies and products, including hedge funds, private equity, distressed debt, real estate, high-performance equity and fund-of-funds.

'As we have often said, our top strategic objective is to better balance Evercore between its advising and investing activities. HighView is a very attractive step in this direction,' said Roger C. Altman, Chairman and Chief Executive Officer of Evercore Partners. 'Through this relationship, we will have the opportunity to invest in alternative investment managers through a scaled and diversified platform, and to partner with world-class management talent. Additionally, we expect to benefit from the investment group's relationship network and the synergistic deal flow between HighView and Evercore.'

'On a personal note, I am also extremely pleased to be investing again with Ralph, whom I have known well for 30 years,' said Mr. Altman. 'I worked with Ralph at Lehman Brothers and first partnered with him when Larry Fink and he founded BlackRock in 1988 -- an investment that still ranks as one of the best with which I have ever been involved. I know first-hand of Ralph's ability to create and grow a highly successful investment management firm, and I am looking forward to the future success of HighView.'

Evercore expects to be an important partner in the founding and ongoing management of HighView, providing financial advisory services, infrastructure support and other investment banking services. Mr.