Operating income at Evercore
Partners' investment management division ended the third quarter of 2013 at
$4.1 million, down from $5.5 million at end-June 2013. Operating income is up year-on-year, however, from $2 million.

In this division, Evercore
Partners reported net revenues of $25.8 million for Q3 2013, down from $26.5
million at the end of June 2013. As of September 30, 2013, the unit reported $14.2 billion in assets under
management, up 5 per cent from the previous quarter.

Investment advisory and
management fees of $20.7 million, meanwhile, fell from $22.1 million in the second quarter.
These fees are up year-on-year however from $18.6 million. Evercore said that
higher higher fees in wealth management and private
equity were partially offset by declines in institutional asset management.

Investment management’s first
quarter expenses were $21.7 million, up 14 per cent compared to the third
quarter of 2012 and 4 per cent compared to the previous quarter. This was driven
principally by higher levels of compensation, the firm said. Year-to-date investment
management expenses were $63.4 million, up 9 per cent from a year ago.