Evercore Partners Inc was incorporated in Delaware on July 21, 2005. The Company's initial public offering on August 10, 2006. The Company operates as an independent investment banking advisory firm that provides advisory services to prominent multinational corporations on significant mergers, acquisitions, divestitures, restructurings, financings and other strategic corporate transactions. Evercore also includes an Investment Management business directly and through affiliates, manages financial assets for sophisticated institutional investors and provides independent fiduciary services to corporate employee benefit plans and high net-worth individuals, the wealth management business through which the Company provides investment advisory and wealth management services for high net-worth individuals and associated entities, and the private equity business through which the Company, directly and through affiliates, manages private equity funds. The Company's two business segments are Investment Banking and Investment Management. Its Investment Banking includes providing advice to clients on significant mergers, acquisitions, divestitures and other strategic corporate transactions, as well as services related to securities underwriting, private fund placement services and commissions for agency-based equity trading services and equity research. Investment Management includes advising third-party investors in the Institutional Asset Management, Wealth Management and Private Equity sectors. Investment Management includes its Advisory services, through which it provide advice to clients on significant mergers, acquisitions, divestitures and other strategic corporate transactions, with a particular focus on advising prominent multinational corporations and substantial private equity firms on large, complex transactions. Its competitors are other investment banking, financial advisory and investment management firms. The Company competes both globally and on a regional, product or niche basis. It competes on the basis of a number of factors, including transaction execution skills, investment performance, its range of products and services, innovation, reputation and price. The Company's business, as well as the financial services industry generally, is subject to extensive regulation in the United States and elsewhere.