Evercore Partners has acquired key assets of the private funds placement group of Neuberger Berman, the companies announced yesterday.

Evercore said it plans to grow the business in the US, continental Europe and the Middle East. Richard Anthony will head Evercore Private Funds Group.

As part of the agreement Neuberger Berman will receive earnout payments which provide them with an economic interest in the success of the group for a period of time.

"The addition of this group reflects the continued expansion of our global platform," Ralph Schlosstein, Evercore's President and Chief Executive Officer, said in a statement. “The business will leverage Evercore's strong relationships with leading fund sponsors, and will add significantly to our network of relationships with institutional investors."

In an interview with Family Wealth Report earlier this week, Jeffrey Maurer, chief executive of Evercore Wealth Management said the global reach and relationships of Evercore Partners would be instrumental in the wealth unit’s growth. (To view this interview, click here).

The private funds placement group is  headquartered in  and advises fund sponsors on competitive positioning and market assessment, investor introductions, marketing materials, due diligence, asset raising and documentation.