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Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Sep. 30, 2011	Nov. 02, 2011
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2011
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	Q3
Entity Registrant Name	Evercore Partners Inc.
Entity Central Index Key	0001360901
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Class A [Member]
Entity Common Stock, Shares Outstanding		27,478,422
Class B [Member]
Entity Common Stock, Shares Outstanding		47

Condensed Consolidated Statements Of Financial Condition - USD ($) $ in Thousands	Sep. 30, 2011	Dec. 31, 2010
Assets
Cash and Cash Equivalents	$ 243,926	$ 141,337
Marketable Securities	62,758	92,830
Financial Instruments Owned and Pledged as Collateral at Fair Value	102,100	52,217
Securities Purchased Under Agreements to Resell	56,331	126,401
Accounts Receivable (net of allowances of $748 and $768 at September 30, 2011 and December 31, 2010, respectively)	66,216	49,625
Receivable from Employees and Related Parties	6,882	3,465
Deferred Tax Assets - Current	4,694	5,092
Other Current Assets	22,726	9,982
Total Current Assets	565,633	480,949
Investments	64,193	60,617
Deferred Tax Assets - Non-Current	182,146	134,161
Furniture, Equipment and Leasehold Improvements (net of accumulated depreciation and amortization of $12,963 and $11,302 at September 30, 2011 and December 31, 2010, respectively)	14,974	14,923
Goodwill	176,937	139,031
Intangible Assets (net of accumulated amortization of $20,052 and $13,337 at September 30, 2011 and December 31, 2010, respectively)	46,662	49,232
Assets Segregated for Bank Regulatory Requirements	10,200	10,200
Other Assets	9,080	8,972
Total Assets	1,069,825	898,085
Liabilities and Equity
Accrued Compensation and Benefits	113,930	82,943
Accounts Payable and Accrued Expenses	18,049	12,558
Securities Sold Under Agreements to Repurchase	158,618	178,683
Payable to Employees and Related Parties	20,075	4,181
Taxes Payable	3,590	404
Other Current Liabilities	14,678	8,204
Total Current Liabilities	328,940	286,973
Notes Payable	99,256	98,082
Amounts Due Pursuant to Tax Receivable Agreements	142,512	97,427
Other Long-term Liabilities	16,761	22,956
Total Liabilities	587,469	505,438
Commitments and Contingencies (Note 16)
Redeemable Noncontrolling Interest	21,818	25,406
Evercore Partners Inc. Stockholders' Equity
Additional Paid-In-Capital	550,385	400,719
Accumulated Other Comprehensive Income (Loss)	(10,980)	(4,193)
Retained Earnings (Deficit)	(69,353)	(61,504)
Treasury Stock at Cost (2,707,426 and 1,514,045 shares at September 30, 2011 and December 31, 2010, respectively)	(68,996)	(34,538)
Total Evercore Partners Inc. Stockholders' Equity	401,357	300,699
Noncontrolling Interest	59,181	66,542
Total Equity	460,538	367,241
Total Liabilities and Equity	1,069,825	898,085
Class A [Member]
Evercore Partners Inc. Stockholders' Equity
Common Stock	301	215
Class B [Member]
Evercore Partners Inc. Stockholders' Equity
Common Stock

Condensed Consolidated Statements Of Financial Condition (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2011	Dec. 31, 2010
Accounts Receivable, allowances	$ 748	$ 768
Furniture, Equipment and Leasehold Improvements, accumulated depreciation and amortization	12,963	11,302
Intangible Assets, accumulated amortization	$ 20,052	$ 13,337
Treasury Stock at Cost, shares	2,707,426	1,514,045
Class A [Member]
Common Stock, par value	$ 0.01	$ 0.01
Common Stock, shares authorized	1,000,000,000	1,000,000,000
Common Stock, shares issued	30,133,001	21,497,691
Common Stock, shares outstanding	27,425,575	19,983,646
Class B [Member]
Common Stock, par value	$ 0.01	$ 0.01
Common Stock, shares authorized	1,000,000	1,000,000
Common Stock, shares issued	47	48
Common Stock, shares outstanding	47	48

Condensed Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011	Sep. 30, 2010
Revenues
Investment Banking Revenue	$ 139,995	$ 101,367	$ 337,743	$ 224,794
Investment Management Revenue	25,483	23,543	80,443	51,199
Other Revenue, Including Interest	3,038	4,661	11,009	18,106
Total Revenues	168,516	129,571	429,195	294,099
Interest Expense	4,573	5,853	15,416	17,390
Net Revenues	163,943	123,718	413,779	276,709
Expenses
Employee Compensation and Benefits	114,805	82,267	285,829	183,750
Occupancy and Equipment Rental	6,039	5,129	16,956	13,087
Professional Fees	9,505	5,935	25,724	20,651
Travel and Related Expenses	5,871	4,441	15,884	11,790
Communications and Information Services	1,678	1,455	5,860	4,246
Depreciation and Amortization	4,918	3,379	10,980	6,677
Special Charges	3,601		3,601
Acquisition and Transition Costs	1,178	385	2,312	3,121
Other Operating Expenses	4,624	3,031	12,567	8,004
Total Expenses	152,219	106,022	379,713	251,326
Income Before Income (Loss) from Equity Method Investments and Income Taxes	11,724	17,696	34,066	25,383
Income (Loss) from Equity Method Investments	195	(131)	664	(441)
Income Before Income Taxes	11,919	17,565	34,730	24,942
Provision for Income Taxes	10,626	8,547	20,861	11,508
Net Income	1,293	9,018	13,869	13,434
Net Income (Loss) Attributable to Noncontrolling Interest	(466)	5,488	6,261	7,767
Net Income Attributable to Evercore Partners Inc.	1,759	3,530	7,608	5,667
Net Income Attributable to Evercore Partners Inc. Common Shareholders	$ 1,738	$ 3,509	$ 7,545	$ 5,614
Weighted Average Shares of Class A Common Stock Outstanding
Basic	28,967	18,973	25,146	18,901
Diluted	31,235	21,091	28,534	22,086
Net Income Per Share Attributable to Evercore Partners Inc. Common Shareholders
Basic	$ 0.06	$ 0.18	$ 0.30	$ 0.30
Diluted	0.06	0.17	0.26	0.25
Dividends Declared per Share of Class A Common Stock	$ 0.18	$ 0.15	$ 0.54	$ 0.45

Condensed Consolidated Statements Of Changes In Equity - USD ($) $ in Thousands	Class A Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings (Deficit) [Member]	Treasury Stock [Member]	Noncontrolling Interest [Member]	Total
Balance, Values at Dec. 31, 2009	$ 172	$ 339,495	$ (3,760)	$ (56,756)	$ (12,756)	$ 29,361	$ 295,756
Balance, Shares at Dec. 31, 2009	17,155,883				(809,299)
Net Income				5,667		7,767	13,434
Other Comprehensive Income, net:
Unrealized Gain (Loss) on Marketable Securities, net			(760)			(1,227)	(1,987)
Foreign Currency Translation Adjustment			(67)			(204)	(271)
Total Comprehensive Income (Loss)			(827)	5,667		6,336	11,176
Treasury Stock Purchases, Values					$ (34,522)		(34,522)
Treasury Stock Purchases, Shares					(1,268,790)
Equity Offering, Net of Direct Expenses, Values	$ 25	67,639					67,664
Equity Offering, Net of Direct Expenses, Shares	2,569,075
Evercore LP Units Purchased or Converted into Class A Common Stock, Values	$ 1	(55,468)				(8,821)	(64,288)
Evercore LP Units Purchased or Converted into Class A Common Stock, Shares	52,460
Stock-based Compensation Awards, Values	$ 12	28,099				14,925	43,036
Stock-based Compensation Awards, Shares	1,272,482
Dividends and Equivalents		972		(9,420)			(8,448)
Noncontrolling Interest (Note 13)		(53)				20,808	20,755
Balance, Values at Sep. 30, 2010	$ 210	380,684	(4,587)	(60,509)	$ (47,278)	62,609	331,129
Balance, Shares at Sep. 30, 2010	21,049,900				(2,078,089)
Balance, Values at Dec. 31, 2010	$ 215	400,719	(4,193)	(61,504)	$ (34,538)	66,542	367,241
Balance, Shares at Dec. 31, 2010	21,497,691				(1,514,045)
Net Income				7,608		6,261	13,869
Other Comprehensive Income, net:
Unrealized Gain (Loss) on Marketable Securities, net			(1,648)			(343)	(1,991)
Foreign Currency Translation Adjustment			(5,139)			(1,447)	(6,586)
Total Comprehensive Income (Loss)			(6,787)	7,608		4,471	5,292
Treasury Stock Purchases, Values					$ (35,094)		(35,094)
Treasury Stock Purchases, Shares					(1,221,248)
Equity Offering, Net of Direct Expenses, Values	$ 54	167,880					167,934
Equity Offering, Net of Direct Expenses, Shares	5,364,991
Evercore LP Units Purchased or Converted into Class A Common Stock, Values	$ 3	(75,146)				(11,990)	(87,133)
Evercore LP Units Purchased or Converted into Class A Common Stock, Shares	352,487
Stock-based Compensation Awards, Values	$ 29	51,479				15,808	67,316
Stock-based Compensation Awards, Shares	2,917,832
Shares Issued as Consideration for Acquisitions and Investments, Shares					27,867
Shares Issued as Consideration for Acquisitions and Investments, Values					$ 636		636
Dividends and Equivalents		1,866		(15,457)			(13,591)
Noncontrolling Interest (Note 13)		3,587				(15,650)	(12,063)
Balance, Values at Sep. 30, 2011	$ 301	$ 550,385	$ (10,980)	$ (69,353)	$ (68,996)	$ 59,181	$ 460,538
Balance, Shares at Sep. 30, 2011	30,133,001				(2,707,426)

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2011	Sep. 30, 2010
Cash Flows From Operating Activities
Net Income	$ 13,869	$ 13,434
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Net Realized and Unrealized Gains on Investments, Marketable Securities and Contingent Consideration	(6,517)	(5,260)
Equity-Based and Other Deferred Compensation	67,985	41,657
Depreciation, Amortization and Accretion	13,129	7,763
Bad Debt Expense	953	1,144
Deferred Taxes	9,516	2,443
Decrease (Increase) in Operating Assets:
Marketable Securities	449	348
Financial Instruments Owned and Pledged as Collateral at Fair Value	(60,466)	73,738
Securities Purchased Under Agreements to Resell	67,087	(149,022)
Accounts Receivable	(10,866)	(5,270)
Receivable from Employees and Related Parties	(3,365)	(272)
Assets Segregated for Bank Regulatory Requirements		(200)
Other Assets	4,642	(1,059)
(Decrease) Increase in Operating Liabilities:
Accrued Compensation and Benefits	22,654	(34,224)
Accounts Payable and Accrued Expenses	1,204	6,562
Securities Sold Under Agreements to Repurchase	(6,478)	75,124
Payables to Employees and Related Parties	(1,383)	(55)
Taxes Payable	(2,285)	243
Other Liabilities	(73)	75
Net Cash Provided by Operating Activities	110,055	27,169
Cash Flows From Investing Activities
Investments Purchased	(670)	(3,478)
Distributions of Private Equity Investments	1,430
Marketable Securities:
Proceeds from Sales and Maturities	69,618	181,805
Purchases	(42,524)	(111,855)
Cash Paid for Acquisitions, net of cash acquired	(30,397)	(70,481)
Change in Restricted Cash		(904)
Purchase of Furniture, Equipment and Leasehold Improvements	(2,588)	(2,899)
Net Cash Provided by (Used in) Investing Activities	(5,131)	(7,812)
Cash Flows From Financing Activities
Payments for Settlement of Debt and Capital Lease Obligations	(8,335)	(35)
Issuance of Noncontrolling Interests	1,009	3,503
Distributions to Noncontrolling Interests - Evercore LP Limited Partners	(16,656)	(15,834)
Cash Paid for Contingent Consideration	(5,140)
Proceeds from Equity Offering, Net of Direct Expenses	168,140	67,117
Purchase of Evercore LP Units and Treasury Stock	(130,231)	(103,413)
Dividends-Class A Stockholders	(13,591)	(8,448)
Other	5,127
Net Cash Provided by (Used in) Financing Activities	323	(57,110)
Effect of Exchange Rate Changes on Cash	(2,658)	(388)
Net Increase (Decrease) in Cash and Cash Equivalents	102,589	(38,141)
Cash and Cash Equivalents-Beginning of Period	141,337	206,682
Cash and Cash Equivalents-End of Period	243,926	168,541
SUPPLEMENTAL CASH FLOW DISCLOSURE
Payments for Interest	15,883	17,938
Payments for Income Taxes	13,749	$ 8,195
Decrease in Fair Value of Redeemable Noncontrolling Interest	$ 3,650

Organization

9 Months Ended

Sep. 30, 2011

Organization

Organization

Note 1 – Organization

Evercore Partners Inc. and subsidiaries (the "Company") is an investment banking and investment management firm, incorporated in Delaware on July 21, 2005 and headquartered in New York, New York. The Company is a holding company which owns a controlling interest in Evercore LP, a Delaware limited partnership ("Evercore LP"). Subsequent to the Company's initial public offering ("IPO"), the Company became the sole general partner of Evercore LP. The Company is headquartered in New York City and operates from its offices in the United States, the United Kingdom, Mexico, Hong Kong and, through its affiliate G5 Holdings S.A. ("G5"), in Brazil.

The Investment Banking business includes the advisory business through which the Company provides 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. The Company also provides restructuring advice to companies in financial transition, as well as to creditors, shareholders and potential acquirers. In addition, the Company provides its clients with capital markets advice, underwrites securities offerings and raises funds for financial sponsors. The Investment Banking business also includes the Institutional Equities business through which the Company offers equity research and agency-based equity securities trading for institutional investors.

The Investment Management business includes the institutional asset management business through which the Company manages financial assets for sophisticated institutional investors and provides independent fiduciary services to corporate employee benefit plans, the wealth management business through which the Company provides wealth management services for high net-worth individuals and the private equity business through which the Company, directly and through affiliates, manages private equity funds.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 2-6
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Name Statement of Position (SOP)
-Publisher AICPA
-Number 94-6
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Name FASB Interpretation (FIN)
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-Number 46R
-Paragraph 4, 14, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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+ Details

Significant Accounting Policies

9 Months Ended

Sep. 30, 2011

Significant Accounting Policies

Significant Accounting Policies

Note 2 – Significant Accounting Policies

For a complete discussion of the Company's accounting policies, refer to the Company's Annual Report on Form 10-K for the year ended December 31, 2010.

Basis of Presentation – The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with the instructions to Form 10-Q. As permitted by the rules and regulations of the United States Securities and Exchange Commission, the unaudited condensed consolidated financial statements contain certain condensed financial information and exclude certain footnote disclosures normally included in audited consolidated financial statements prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP"). The accompanying condensed consolidated financial statements are unaudited and are prepared in accordance with U.S. GAAP. In the opinion of the Company's management, the accompanying unaudited condensed consolidated financial statements contain all adjustments, including normal recurring accruals, necessary to fairly present the accompanying unaudited condensed consolidated financial statements. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in the Company's annual report on Form 10-K for the year ended December 31, 2010. The December 31, 2010 Unaudited Condensed Consolidated Statement of Financial Condition data was derived from audited consolidated financial statements, but does not include all disclosures required by U.S. GAAP. Operating results for the interim period are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2011.

The unaudited condensed consolidated financial statements of the Company are comprised of the consolidation of Evercore LP and Evercore LP's wholly-owned and majority-owned direct and indirect subsidiaries, including Evercore Group L.L.C. ("EGL"), a registered broker-dealer in the U.S. The Company's policy is to consolidate all subsidiaries in which it has a controlling financial interest, as well as any variable interest entities ("VIEs") where the Company is deemed to be the primary beneficiary, when it has the power to make the decisions that most significantly affect the economic performance of the VIE and has the obligation to absorb significant losses or the right to receive significant benefits. All intercompany balances and transactions with the Company's subsidiaries have been eliminated upon consolidation.

Recent Accounting Pronouncements

9 Months Ended

Sep. 30, 2011

Recent Accounting Pronouncements

Recent Accounting Pronouncements

Note 3 – Recent Accounting Pronouncements

ASU 2011-03 – In April 2011, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2011-03, "Reconsideration of Effective Control for Repurchase Agreements" ("ASU 2011-03"). ASU 2011-03 provides amendments to Accounting Standards Codification ("ASC") No. 860 "Transfers and Servicing", which remove from the assessment of effective control (1) the criterion requiring the transferor to have the ability to repurchase or redeem the financial assets on substantially the agreed terms, even in the event of default by the transferee, and (2) the collateral maintenance implementation guidance related to that criterion. The amendments in this update are effective prospectively for transactions or modifications of existing transactions that occur on or after the beginning of the first interim or annual reporting period beginning on or after December 15, 2011, with early adoption not permitted. The Company is currently assessing the impact of the adoption of this update on the Company's financial condition, results of operations and cash flows.

ASU 2011-04 – In May 2011, the FASB issued ASU No. 2011-04, "Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRS" ("ASU 2011-04"). ASU 2011-04 provides amendments to ASC No. 820 "Fair Value Measurement", which results in a consistent definition of fair value and common requirements for measurement of and disclosure of fair value between U.S. GAAP and IFRS. Some of the amendments clarify the Board's intent about the application of existing fair value measurement requirements, while others change a particular principle or requirement for measuring fair value or for disclosing information about fair value measurements. The amendments in this update are effective prospectively during interim and annual periods beginning after December 15, 2011, with early adoption not permitted. The Company is currently assessing the impact of the adoption of this update on the Company's financial condition, results of operations and cash flows.

ASU 2011-05 – In June 2011, the FASB issued ASU No. 2011-05, "Presentation of Comprehensive Income" ("ASU 2011-05"). ASU 2011-05 provides amendments to ASC No. 220 "Comprehensive Income", which require an entity to present the total of comprehensive income, the components of net income, and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. The amendments in this update are effective retrospectively for fiscal years and interim periods within those years, beginning after December 15, 2011, with early adoption permitted. The FASB recently decided that the specific requirement to present items that are reclassified from other comprehensive income to net income alongside their respective components of net income and other comprehensive income will be deferred. The Company is currently assessing the impact of the adoption of this update on the Company's financial condition, results of operations and cash flows.

ASU 2011-08 – In September 2011, the FASB issued ASU No. 2011-08, "Testing Goodwill for Impairment" ("ASU 2011-08"). ASU 2011-08 provides amendments to ASC No. 350 "Intangibles – Goodwill and Other", which are intended to reduce complexity and costs by allowing an entity the option to make a qualitative evaluation about the likelihood of goodwill impairment to determine whether it should calculate the fair value of a reporting unit. The amendments also improve previous guidance by expanding upon the examples of events and circumstances that an entity should consider between annual impairment tests in determining whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Also, the amendments improve the examples of events and circumstances that an entity having a reporting unit with a zero or negative carrying amount should consider in determining whether to measure an impairment loss, if any, under the second step of the goodwill impairment test. The amendments are effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011, with early adoption permitted. The Company is currently assessing the impact of the adoption of this update on the Company's financial condition, results of operations and cash flows.

- Definition

Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 154
-Paragraph 2, 17, 18
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Name Accounting Standards Codification
-Glossary Indirect Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6515603

Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-Glossary Accounting Change
-URI http://asc.fasb.org/extlink&oid=6503790

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-Glossary Change in Accounting Principle
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-Name Accounting Standards Codification
-Glossary Direct Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6510796

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-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.10-01.(b)(6))
-URI http://asc.fasb.org/extlink&oid=6958853&loc=d3e46468-122699

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-Glossary Retrospective Application
-URI http://asc.fasb.org/extlink&oid=6523989

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-Paragraph 13
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+ Details

Business Changes And Developments

9 Months Ended

Sep. 30, 2011

Business Changes And Developments

Business Changes And Developments

Note 4 – Business Changes and Developments

Lexicon Partnership LLP – On August 19, 2011, the Company completed its previously announced acquisition of all of the outstanding partnership interests of The Lexicon Partnership LLP ("Lexicon"), in accordance with the definitive sale and purchase agreement entered into on June 7, 2011, for consideration consisting of cash and stock. In the aggregate, the sellers will receive approximately £46,142, or $76,167, in cash and 1,911 shares of the Company's Class A common stock, par value $0.01 per share ("Class A Shares"). Of the total consideration, £31,598, or $52,160, in cash was paid and 28 Class A Shares were issued to the sellers at closing, and approximately £5,619, or $9,274, in cash will be paid to the sellers on December 31, 2011. Payment of the remaining approximately £8,925, or $14,733, in cash and 1,883 restricted Class A Shares will be deferred and will vest under graded vesting in various installments over a four-year period. Accordingly, these amounts will be expensed over the graded vesting period. This deferred consideration, whether in the form of Class A Shares or cash, upon vesting, will be delivered to the sellers on the earlier of (i) the first anniversary of the relevant vesting date and (ii) the date of the first secondary offering by the Company following the relevant vesting date. Vesting of the Class A Shares and cash consideration will accelerate in certain circumstances, including, but not limited to, a seller's termination without cause, a qualifying retirement or upon a change of control. In addition, upon closing the Company funded the repayment of £5,039, or $8,318, of outstanding Lexicon capital notes. These notes are included as Long-term Debt in the table below.

Lexicon was purchased to expand the Company's advisory capabilities.

The purchase price of the acquisition has been allocated to the assets acquired and liabilities assumed using the fair values as determined by management as of the acquisition date. The computation of goodwill was based on the fair value at August 19, 2011. The preliminary purchase price allocation is as follows:


	Amount
Purchase Price:
Cash Paid	$	52,160
Fair Value of Shares Issued		636
Fair Value of Deferred Cash Consideration		9,274

Total Fair Value of Purchase Price		62,070


Fair Value of Assets Acquired and Liabilities Assumed:
Cash and Cash Equivalents		21,812
Accounts Receivable		7,821
Prepaid Expenses		11,627
Fixed Assets		429
Other Assets		964
Intangible Assets		7,164
Current Liabilities		(21,592	)
Long-term Debt		(8,318	)

Identifiable Net Assets		19,907

Goodwill Resulting from Business Combination	$	42,163

In conjunction with the acquisition, the Company recognized accounts receivable with a gross value of $7,821, which approximates fair value, all of which are expected to be collected. The goodwill reflects the replacement cost of an assembled workforce associated with personal reputations, relationships and business specific knowledge, as well as the value of expected synergies. The total amount of goodwill is expected to be deductible for tax purposes.

In connection with the acquisition of Lexicon, the Company recorded Client Related intangible assets of $7,164. Management views client related assets as the primary intangible assets of Lexicon. The intangible assets were valued at the date of acquisition at their fair value as determined by management. The intangible assets are amortized over an estimated useful life of six months. The Company recognized $1,595 of amortization expense related to these intangible assets for the three and nine months ended September 30, 2011.

Goodwill and intangible assets recognized as a result of this acquisition are included in the Investment Banking Segment.

The Company's consolidated results for the three and nine months ended September 30, 2011, included revenue of $7,383 and operating expenses of $7,348, resulting in income of $35 related to Lexicon from the period of acquisition, August 19, 2011 to September 30, 2011, before taking into consideration certain acquisition related charges. The Company also incurred $11,950 of other expenses related to the Lexicon acquisition, which included $7,729 of acquisition related compensation charges, $2,626 of Special Charges and $1,595 of intangible amortization expense associated with the acquisition of Lexicon. The Pre-tax income (loss) related to Lexicon including the other expenses noted above was ($11,915). See Note 5 for a further explanation of Special Charges and Note 19 for a further explanation of Other Expenses.

If the acquisition of Lexicon was effective as of January 1, 2010, the operating results of the Company, on a pro forma basis, would have been:


	For the Three Months Ended					For the Nine Months Ended
	September 30, 2011			September 30, 2010		September 30, 2011		September 30, 2010
	(Unaudited)
Net Revenues	$	169,993		$	133,924	$	464,859	$	311,897
Pre-tax Income	$	5,529		$	12,815	$	29,324	$	14,832
Net Income (Loss) Attributable to Evercore Partners Inc.	$	(1,133	)	$	2,293	$	4,325	$	3,899
Diluted Net Income (Loss) Per Share Available to Evercore Partners Inc.	$	(0.04	)	$	0.11	$	0.15	$	0.17

Goodwill and Intangible Assets

Goodwill associated with the Company's acquisitions is as follows:


	Investment Banking			Investment Management		Total
Balance at December 31, 2010	$	43,199		$	95,832	$	139,031
Acquisitions		42,163			80		42,243
Foreign Currency Translation		(4,337	)		—		(4,337	)

Balance at September 30, 2011	$	81,025		$	95,912	$	176,937

Intangible assets associated with the Company's acquisitions are as follows:


	September 30, 2011
	Gross Carrying Amount						Accumulated Amortization
	Investment Banking		Investment Management		Total		Investment Banking		Investment Management		Total
Client Related	$	17,869	$	43,250	$	61,119	$	9,943	$	8,643	$	18,586
Professional Licenses		70		—		70		75		—		75
Acquired Mandates		1,810		—		1,810		723		—		723
Non-compete/Non-solicit Agreements		135		1,780		1,915		33		475		508
Other		—		1,800		1,800		—		160		160

Total	$	19,884	$	46,830	$	66,714	$	10,774	$	9,278	$	20,052


	December 31, 2010
	Gross Carrying Amount						Accumulated Amortization
	Investment Banking		Investment Management		Total		Investment Banking		Investment Management		Total
Client Related	$	11,242	$	44,430	$	55,672	$	7,120	$	4,212	$	11,332
Professional Licenses		275		—		275		259		—		259
Acquired Mandates		1,810		—		1,810		384		—		384
Non-compete/Non-solicit Agreements		518		1,780		2,298		380		208		588
Other		714		1,800		2,514		703		71		774

Total	$	14,559	$	48,010	$	62,569	$	8,846	$	4,491	$	13,337

Expense associated with the amortization of intangible assets was $3,893 and $8,649 for the three and nine months ended September 30, 2011, respectively, and $2,768 and $4,761 for the three and nine months ended September 30, 2010, respectively.

Based on the intangible assets above, as of September 30, 2011, annual amortization of intangibles for each of the next five years is as follows:


2011 (last three months)	$	5,815
2012	$	10,607
2013	$	7,505
2014	$	5,211
2015	$	3,555
2016 (first nine months)	$	2,408

On October 25, 2011, Evercore Asset Management ("EAM") decided to wind down its business. The Company made this decision because EAM was unable to attain sufficient scale to be a viable business due to several factors including the ongoing effects of the financial crisis. Accordingly, this resulted in a $975 charge in the Investment Management segment related to the write-off of client-based intangible assets during the third quarter of 2011, which is included within Special Charges on the Condensed Consolidated Statement of Operations.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 88-16
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Paragraph F4
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Acquisition And Transition Costs And Special Charges

9 Months Ended

Sep. 30, 2011

Acquisition And Transition Costs And Special Charges

Acquisition And Transition Costs And Special Charges

Note 5 – Acquisition and Transition Costs and Special Charges

Acquisition and Transition Costs – The Company has recognized as an expense $1,178 and $2,312 for the three and nine months ended September 30, 2011, respectively, and $385 and $3,121 for the three and nine months ended September 30, 2010, respectively, as Acquisition and Transition Costs incurred in connection with acquisitions and other ongoing business development initiatives. These costs are primarily comprised of professional fees for legal and other services. Acquisition and Transition Costs included expenses of $1,043 and $1,893 for the three and nine months ended September 30, 2011, respectively, related to the Company's acquisition of Lexicon.

Special Charges – The Company has recognized costs of $3,601 for the three and nine months ended September 30, 2011, as Special Charges incurred in connection with the exiting of a lease commitment for office space of $731 and an introducing fee in connection with the Lexicon acquisition of $1,895, as well as a charge associated with the write-off of intangible assets associated with the Company's planned exit of EAM of $975. See Note 4 for further information on the Company's acquisition of Lexicon and planned exit of EAM.

Related Parties

9 Months Ended

Sep. 30, 2011

Related Parties

Related Parties

Note 6 – Related Parties

Investment Management Revenue includes income from related parties earned from the Company's private equity funds for portfolio company fees, management fees, expense reimbursements and realized and unrealized gains and losses of private equity fund investments. Total Investment Management revenues from related parties amounted to $3,002 and $5,378 for the three and nine months ended September 30, 2011, respectively, and $2,377 and $5,576 for the three and nine months ended September 30, 2010, respectively.

Income from related parties includes advisory fees earned from clients that have Senior Managing Directors as an employee or member of their Board of Directors of $1,211 and $2,765 for the three and nine months ended September 30, 2011, respectively, and $0 for the three and nine months ended September 30, 2010, respectively.

Included in Payable to Employees and Related Parties on the Condensed Consolidated Statement of Financial Condition at September 30, 2011 was deferred consideration payable, related to the Lexicon transaction, of $8,754 and amounts due to the former members of Lexicon of $7,200.

- Definition

The entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 4
-Section 08
-Paragraph k

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 3A
-Section 04
-Paragraph b

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 57
-Paragraph 1-4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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+ Details

Marketable Securities

9 Months Ended

Sep. 30, 2011

Marketable Securities

Marketable Securities

Note 7 – Marketable Securities

The amortized cost and estimated fair value of the Company's Marketable Securities as of September 30, 2011 and December 31, 2010 were as follows:


	September 30, 2011								December 31, 2010
	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available-for-Sale
Debt Securities:
Corporate Bonds	$	—	$	—	$	—	$	—	$	7,126	$	45	$	—	$	7,171
Municipal Bonds		1,300		1		—		1,301		16,910		107		15		17,002
Other Debt Securities		—		—		—		—		1,000		—		—		1,000
Seed Capital Investments		14,572		1,101		633		15,040		14,112		2,250		25		16,337

Total Available-for-Sale		15,872		1,102		633		16,341		39,148		2,402		40		41,510

Debt Securities Carried by EGL		37,393		548		—		37,941		50,837		501		18		51,320
Mutual Funds		9,066		264		854		8,476		—		—		—		—

Total	$	62,331	$	1,914	$	1,487	$	62,758	$	89,985	$	2,903	$	58	$	92,830

Scheduled maturities of the Company's available-for-sale debt securities as of September 30, 2011 and December 31, 2010 were as follows:


	September 30, 2011				December 31, 2010
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due within one year	$	1,300	$	1,301	$	17,183	$	17,265
Due after one year through five years		—		—		7,853		7,908

Total	$	1,300	$	1,301	$	25,036	$	25,173

Since the Company has the ability and intent to hold its available-for-sale securities until a recovery of fair value is equal to an amount approximating its amortized cost, which may be at maturity, and has not incurred credit losses on its securities, it does not consider such unrealized loss positions to be other-than-temporarily impaired at September 30, 2011.

Debt Securities

The Company invests in corporate and municipal bonds and other debt securities, which are classified as available-for-sale securities within Marketable Securities on the Unaudited Condensed Consolidated Statements of Financial Condition. Unrealized gains and losses for these securities are included in Accumulated Other Comprehensive Income and realized gains and losses included in earnings. The Company had realized gains of $11 and $86 for the three and nine months ended September 30, 2011, respectively, and $26 and $3,450 for the three and nine months ended September 30, 2010, respectively.

Seed Capital Investments

Seed Capital Investments include equity securities and their equivalents, which are classified as available-for-sale securities within Marketable Securities on the Unaudited Condensed Consolidated Statements of Financial Condition. These securities are stated at quoted market value with unrealized gains and losses included in Accumulated Other Comprehensive Income and realized gains and losses included in earnings. The Company earned realized gains of $61 and $521 for the three and nine months ended September 30, 2011, respectively, and $101 and $1,159 for the three and nine months ended September 30, 2010, respectively.

Debt Securities Carried by EGL

During the first quarter of 2010, EGL began to invest in a fixed income portfolio consisting primarily of municipal bonds. These securities are carried at fair value, with changes in fair value recorded in Other Revenues on the Unaudited Condensed Consolidated Statement of Operations, as required for broker-dealers in securities. The Company had net realized and unrealized gains (losses) of ($44) and ($448) for the three and nine months ended September 30, 2011, respectively, and $172 and $348 for the three and nine months ended September 30, 2010, respectively.

Mutual Funds

During the first quarter of 2011, the Company began to invest in a portfolio of mutual funds as an economic hedge against the Company's deferred compensation program. See Note 15 for further information. These securities are carried at fair value, with changes in fair value recorded in Other Revenues on the Unaudited Condensed Consolidated Statements of Operations. The Company had net unrealized gains (losses) of ($740) and ($590) for the three and nine months ended September 30, 2011, respectively.

Financial Instruments Owned And Pledged As Collateral At Fair Value, Securities Purchased Under Agreements To Resell And Securities Sold Under Agreements To Repurchase

9 Months Ended

Sep. 30, 2011

Financial Instruments Owned And Pledged As Collateral At Fair Value, Securities Purchased Under Agreements To Resell And Securities Sold Under Agreements To Repurchase

Financial Instruments Owned And Pledged As Collateral At Fair Value, Securities Purchased Under Agreements To Resell And Securities Sold Under Agreements To Repurchase

Note 8 – Financial Instruments Owned and Pledged as Collateral at Fair Value, Securities Purchased Under Agreements to Resell and Securities Sold Under Agreements to Repurchase

The Company, through Protego Casa de Bolsa, S.A. de C.V. ("PCB"), enters into repurchase agreements with clients seeking overnight money market returns whereby PCB transfers to the clients Mexican government securities in exchange for cash and concurrently agrees to repurchase the securities at a future date for an amount equal to the cash exchanged plus a stipulated premium or interest factor. PCB deploys the cash received from, and acquires the securities deliverable to, clients under these repurchase arrangements by purchasing securities in the open market, which the Company reflects as Financial Instruments Owned and Pledged as Collateral at Fair Value on the Unaudited Condensed Consolidated Statements of Financial Condition, or by entering into reverse repurchase agreements with unrelated third parties. The Company accounts for these repurchase and reverse repurchase agreements as collateralized financing transactions, which are carried at their contract amounts, which approximate fair value given that the contracts generally mature the following business day. The Company records a liability on its Unaudited Condensed Consolidated Statements of Financial Condition in relation to repurchase transactions executed with clients as Securities Sold Under Agreements to Repurchase. The Company records as assets on its Unaudited Condensed Consolidated Statements of Financial Condition, Financial Instruments Owned and Pledged as Collateral at Fair Value (where the Company has acquired the securities deliverable to clients under these repurchase arrangements by purchasing securities in the open market) and Securities Purchased Under Agreements to Resell (where the Company has acquired the securities deliverable to clients under these repurchase agreements by entering into reverse repurchase agreements with unrelated third parties). These Mexican government securities have an estimated average time to maturity of approximately 2.5 years, as of September 30, 2011, and are pledged as collateral against repurchase agreements. Generally, collateral is posted equal to the contract value at inception and is subject to market changes. These repurchase agreements are primarily with institutional customer accounts managed by PCB which permit the counterparty to pledge the securities.

As of September 30, 2011 and December 31, 2010, a summary of the Company's assets, liabilities and collateral received or pledged related to these transactions was as follows:


	September 30, 2011						December 31, 2010
	Asset (Liability) Balance			Market Value of Collateral Received or (Pledged)			Asset (Liability) Balance			Market Value of Collateral Received or (Pledged)
Assets
Financial Instruments Owned and Pledged as Collateral at Fair Value	$	102,100					$	52,217
Securities Purchased Under Agreements to Resell		56,331		$	56,383			126,401		$	126,386

Total Assets	$	158,431					$	178,618


Liabilities
Securities Sold Under Agreements to Repurchase	$	(158,618	)	$	(158,741	)	$	(178,683	)	$	(178,603	)

Investments

9 Months Ended

Sep. 30, 2011

Investments

Investments

Note 9 – Investments

The Company's investments reported on the Unaudited Condensed Consolidated Statements of Financial Condition consist of investments in private equity partnerships and other investments in unconsolidated affiliated companies. The Company's investments are relatively high-risk and illiquid assets. Realized and unrealized gains and losses on our private equity investments are included within Investment Management Revenue. The Company's share of earnings (losses) on our investments in Evercore Pan-Asset Capital Management ("Pan") and G5 are included within Income (Loss) from Equity Method Investments on the Unaudited Condensed Consolidated Statements of Operations.

Investments in Private Equity

The Company's investments in private equity partnerships include investments in Evercore Capital Partners II L.P. and its affiliated entities ("ECP II"), Discovery Americas I, L.P. (the "Discovery Fund"), Evercore Mexico Capital Partners II ("EMCP II"), CSI Capital, L.P. ("CSI Capital") and Trilantic Capital Partners Associates IV L.P. ("Trilantic IV"). Portfolio holdings of the private equity funds are carried at fair value. Accordingly, the Company reflects its pro rata share of the unrealized gains and losses occurring from changes in fair value. Additionally, the Company reflects its pro rata share of realized gains, losses and carried interest associated with any investment realizations.

A summary of the Company's investments in private equity funds as of September 30, 2011 and December 31, 2010 was as follows:


	September 30, 2011		December 31, 2010
ECP II	$	5,045	$	4,856
Discovery Fund		3,263		2,734
EMCP II		7,007		7,580
CSI Capital		3,120		3,361
Trilantic IV		5,798		559

Total Private Equity Funds	$	24,233	$	19,090

Net realized and unrealized gains on private equity fund investments, including performance fees, were $1,728 and $6,548 for the three and nine months ended September 30, 2011, respectively, and $542 and $437 for the three and nine months ended September 30, 2010, respectively. In the event the fund performs poorly, the Company may be obligated to repay certain carried interest previously distributed. As of September 30, 2011, the Company had $2,701 of previously received carried interest that may be subject to repayment.

Trilantic Capital Partners

During the first quarter of 2010, the Company made an equity method investment in Trilantic Capital Partners ("Trilantic"). See Note 13 for further information. This investment had a balance of $15,721 and $15,840 as of September 30, 2011 and December 31, 2010, respectively.

Equity Method Investments

A summary of the Company's other equity investments as of September 30, 2011 and December 31, 2010 was as follows:


	September 30, 2011		December 31, 2010
Pan	$	2,620	$	2,939
G5		20,369		21,498

Total Other Equity Investments	$	22,989	$	24,437

Pan

In 2008, the Company made an equity method investment of $4,158 in Pan and maintains a 50% interest at September 30, 2011. This investment resulted in losses of $61 and $346 for the three and nine months ended September 30, 2011, respectively, and $131 and $441 for the three and nine months ended September 30, 2010, respectively.

During the fourth quarter of 2010, the Company made an equity method investment in G5. This investment resulted in a gain of $256 and $1,010 for the three and nine months ended September 30, 2011, respectively.

Cost Basis Investments

In 2009, the Company invested $1,250 in CITIC Securities International ("CSIP") in exchange for a 5% noncontrolling interest in the entity. CSIP and the Company focus on providing merger and acquisition ("M&A") advisory and investment management service, focused on transactions between China and other international markets. This investment is accounted for on the cost basis.

- Definition

The entire disclosure for equity investment, or group of investments, for which combined disclosure is appropriate, including: (a) the name of each investee and percentage of ownership of common stock, (b) accounting policies for investments in common stock, (c) difference between the amount at which the investment is carried and the amount of underlying equity in net assets and the accounting treatment of the difference, (d) the total fair value of each identified investment for which a market value is available, (e) summarized information as to assets, liabilities, and results of operations of the investees (for investments in unconsolidated subsidiaries, common stock of joint ventures, or other investments using the equity method), and (f) material effects of possible conversions, exercises, or contingent issuances of the investee. Other disclosures include (a) the names of any investee in which the investor owns 20 percent or more of the voting stock and investment is not accounted for using the equity method, and the reasons why not, and (b) the names of any investee in which the investor owns less than 20 percent of the voting stock and the investment is accounted for using the equity method, and the reasons why it is.

+ References + Details

Fair Value Measurements

9 Months Ended

Sep. 30, 2011

Fair Value Measurements

Fair Value Measurements

Note 10 – Fair Value Measurements

ASC 820, "Fair Value Measurements and Disclosures" ("ASC 820"), among other matters, requires enhanced disclosures about investments that are measured and reported at fair value. ASC 820 establishes a hierarchal disclosure framework which prioritizes and ranks the level of market price observability used in measuring investments at fair value. Market price observability is affected by a number of factors, including the type of investment and the characteristics specific to the investment. Investments with readily-available active quoted prices or for which fair value can be measured from actively quoted prices generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value.

Investments measured and reported at fair value are classified and disclosed in one of the following categories:

Level I – Quoted prices are available in active markets for identical investments as of the reporting date. The type of investments included in Level I include listed equities and listed derivatives. As required by ASC 820, the Company does not adjust the quoted price for these investments, even in situations where Evercore holds a large position and a sale could reasonably impact the quoted price.

Level II – Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value is determined through the use of models or other valuation methodologies. The estimated fair values of these securities are based on quoted market prices provided by external pricing services.

Level III – Pricing inputs are unobservable for the investment and includes situations where there is little, if any, market activity for the investment. The inputs into the determination of fair value require significant management judgment or estimation.

The following table presents the categorization of investments and certain other assets and liabilities measured at fair value on a recurring basis as of September 30, 2011 and December 31, 2010:


	September 30, 2011
	Level I		Level II		Level III		Total
Corporate Bonds, Municipal Bonds and Other Debt Securities (1)	$	—	$	92,043	$	—	$	92,043
Seed Capital Investments		13,155		1,885		—		15,040
Mutual Funds		8,476		—		—		8,476
Financial Instruments Owned and Pledged as Collateral at Fair Value		102,100		—		—		102,100

Total Assets Measured At Fair Value	$	123,731	$	93,928	$	—	$	217,659


		December 31, 2010
	Level I		Level II		Level III		Total
Corporate Bonds, Municipal Bonds and Other Debt Securities (1)	$	—	$	89,931	$	—	$	89,931
Seed Capital Investments		15,588		749		—		16,337
Financial Instruments Owned and Pledged as Collateral at Fair Value		52,217		—		—		52,217

Total Assets Measured At Fair Value	$	67,805	$	90,680	$	—	$	158,485

(1)	Includes $52,801 and $13,438 of municipal bonds and commercial paper classified within Cash and Cash Equivalents on the Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2011 and December 31, 2010, respectively.

In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Company's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment.

The Company had no transfers between fair value levels during the three and nine months ended September 30, 2011.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44A, 44B
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15C, 15D
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15A
-Subparagraph a-d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15B
-Subparagraph a, b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 3, 10, 14, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32, 33, 34
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 17-22, 27, 28
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19207-110258

Reference 9: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 21
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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+ Details

Issuance Of Notes Payable And Warrants	9 Months Ended
Issuance Of Notes Payable And Warrants	Sep. 30, 2011
Issuance Of Notes Payable And Warrants
Issuance Of Notes Payable And Warrants	<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>Note 11 – Issuance of Notes Payable and Warrants </b></font></p> <p style="margin-top: 6px; text-indent: 32px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">On August 21, 2008, the Company entered into a Purchase Agreement with Mizuho Corporate Bank, Ltd. ("Mizuho") pursuant to which Mizuho purchased from the Company $120,000 principal amount of senior notes due 2020 with a 5.20% coupon ("the Senior Notes") and warrants to purchase 5,455 Class A Shares at $22.00 per share (the "Warrants") expiring in 2020. Based on their relative fair value at issuance, plus accretion, the Senior Notes and Warrants were reflected in Notes Payable and Additional Paid-In-Capital on the Unaudited Condensed Consolidated Statement of Financial Condition. The Senior Notes have an effective yield of 7.94%. At September 30, 2011, the fair value of the Company's Senior Notes exceeded their aggregate carrying value by approximately $20,000. The fair value of the Company's Senior Notes was estimated based on a present value analysis utilizing aggregate market yields for similar financial instruments. </font></p> <p style="margin-top: 12px; text-indent: 32px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">The holder of the Senior Notes may require the Company to purchase, for cash, all or any portion of the holder's Senior Notes upon a change of control of the Company for a price equal to the aggregate accreted amount of such Senior Notes, (the "Accreted Amount"), plus accrued and unpaid interest. Senior Notes held by Mizuho will be redeemable at the Accreted Amount at the option of the Company at any time within 90 days following the date on which Mizuho notifies the Company that it is terminating their strategic alliance agreement ("Strategic Alliance Agreement"). Senior Notes held by any other holder than Mizuho will be redeemable at the Accreted Amount (plus accrued and unpaid interest) at the option of the Company at any time beginning on the third anniversary of the closing of the Senior Notes and Warrants. In the event of a default under the indenture, the trustee or holders of 33 1/3% of the Senior Notes may declare that the Accreted Amount is immediately due and payable. </font></p> <p style="margin-top: 12px; text-indent: 32px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">Pursuant to the agreement, Mizuho may not transfer the Senior Notes or Warrants until August 16, 2012 or, if the Strategic Alliance Agreement is terminated, one year following such termination. The Company has a right of first offer on any proposed transfer by Mizuho of the Warrants, Common Stock purchased in the open market or acquired by exercise of the Warrants and associated Common Stock issued as dividends. </font></p> <p style="margin-top: 12px; text-indent: 32px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">The exercise price for the Warrants is payable, at the option of the holder of the Warrants, either in cash or by tender of Senior Notes at the Accreted Amount, at any point in time.</font></p>

Evercore Partners Inc. Stockholders' Equity

9 Months Ended

Sep. 30, 2011

Evercore Partners Inc. Stockholders' Equity

Evercore Partners Inc. Stockholders' Equity

Note 12 – Evercore Partners Inc. Stockholders' Equity

Offerings – During the second quarter of 2011, the Company had an offering of 5,365 Class A Shares. A portion of the proceeds were used to purchase from certain holders, including members of the Company's senior management, a number of outstanding Evercore LP partnership units ("LP Units"). The Company used a portion of the remainder of the proceeds to fund the initial cash payments associated with the acquisition of Lexicon. See Note 4.

The offering resulted in an increase to Common Stock and Additional Paid-In-Capital of $54 and $167,880, respectively, on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2011. The purchase of outstanding LP Units resulted in a decrease to Additional Paid-In-Capital of $84,195 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2011. See Note 13 for the impact of this transaction on Noncontrolling Interest. Additionally, the above transaction resulted in an increase in the tax basis of the tangible and intangible assets of Evercore LP, which triggered an additional liability under the tax receivable agreement that was entered into in 2006 between the Company and the LP Unit holders. The agreement provides for a payment to the LP Unit holders of 85% of the cash tax savings (if any), resulting from the increased tax benefits from the exchange and for the Company to retain 15% of such benefits. Accordingly, Deferred Tax Assets – Non-Current, Amounts Due Pursuant to Tax Receivable Agreements and Additional Paid-In-Capital increased $47,481, $40,360 and $7,122, respectively, on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2011.

Dividends – During the three and nine months ended September 30, 2011, the Company declared and paid dividends of $0.18 and $0.54 per share, totaling $5,360 and $13,591, respectively. The Company's Board of Directors declared on October 25, 2011, a quarterly cash dividend of $0.20 per share, to the holders of Class A Shares as of November 25, 2011, which will be paid on December 9, 2011.

Treasury Stock – During the nine months ended September 30, 2011, the Company purchased 1,221 Class A Shares from employees at market values ranging from $15.76 to $36.41 per share primarily for the net settlement of stock-based compensation awards. The result of these purchases was an increase in Treasury Stock of $35,094 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2011. The Company also issued 28 Class A common shares in conjunction with the acquisition of Lexicon resulting in a decrease in Treasury Stock of $636 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2011.

LP Units – During the nine months ended September 30, 2011, 352 LP Units were gifted by employees to various charities and exchanged for Class A Shares, resulting in an increase to Common Stock and Additional Paid-In-Capital of $3 and $1,927, respectively, on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2011. See "Offerings" above for additional LP Unit transactions.

- Definition

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

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-Name Regulation S-X (SX)
-Number 210
-Article 4
-Section 08
-Paragraph d

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-Name Accounting Research Bulletin (ARB)
-Number 43
-Chapter 1
-Section B
-Paragraph 7, 11A
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
-Number 129
-Paragraph 2, 3, 4, 5, 6, 7, 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Article 4

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
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-Paragraph 29, 30, 31
-Article 5

Reference 9: http://www.xbrl.org/2003/role/presentationRef
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-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

Reference 11: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
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-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

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+ Details

Noncontrolling Interest

9 Months Ended

Sep. 30, 2011

Noncontrolling Interest

Noncontrolling Interest

Note 13 – Noncontrolling Interest

Noncontrolling Interest recorded in the unaudited condensed consolidated financial statements of the Company relates to a 19% interest in Evercore LP, a 28% interest in PCB, a 49% interest in Evercore Wealth Management ("EWM"), a 49% interest in EAM, a 34% equity interest in Atalanta Sosnoff Capital L.L.C. ("Atalanta Sosnoff"), a 34% interest in Institutional Equities and a 14% interest in Evercore Trust Company, N.A. ("ETC"), not owned by the Company at September 30, 2011. The Atalanta Sosnoff interest excludes the Series C Profits Interest, which has been reflected in Employee Compensation and Benefits Expense on the Unaudited Condensed Consolidated Statements of Operations. The Noncontrolling Interest for Evercore LP, EWM, Atalanta Sosnoff, Institutional Equities and ETC have rights, in certain circumstances, to convert into Class A Shares.

Changes in Noncontrolling Interest for the nine months ended September 30, 2011 and 2010 were as follows:


	For the Nine Months Ended September 30,
	2011			2010
Beginning balance	$	66,542		$	29,361

Comprehensive income
Operating income		6,261			7,767
Other comprehensive income (loss)		(1,790	)		(1,431	)

Total comprehensive income		4,471			6,336

Other items
Evercore LP Units Purchased or Converted into Class A Common Stock		(11,990	)		(8,821	)
Amortization and Vesting of LP Units		15,808			14,925
Distributions to Noncontrolling Interests		(16,656	)		(15,834	)
Fair value of noncontrolling interest in Atalanta Sosnoff		—			33,139
Issuance of noncontrolling interest in Institutional Equities		917			3,503
Other		89			—

Total other items		(11,832	)		26,912

Ending balance	$	59,181		$	62,609

In February 2010, the Company issued 500 LP Units in exchange for a minority economic interest in Trilantic. At December 31, 2014, at the option of the holder, these LP Units are exchangeable on a one-for-one basis for Class A Shares or may be redeemed for cash of $16,500. This transaction resulted in Redeemable Noncontrolling Interest on the Unaudited Condensed Consolidated Statements of Financial Condition of $16,090, representing the fair value of the LP Units exchanged at the date of issuance. This value is being accreted to the minimum redemption value of $16,500 over the five-year period ended December 31, 2014. Accretion was $21 and $63 for the three and nine months ended September 30, 2011, respectively, and $21 and $53 for the three and nine months ended September 30, 2010, respectively.

In conjunction with the Company's purchase agreement with Atalanta Sosnoff, the Company issued a management member of Atalanta Sosnoff certain capital interests in Atalanta Sosnoff, which are redeemable for cash, at their fair value. Accordingly, these capital interests have been reflected at their fair value of $5,592 and $9,242 within Redeemable Noncontrolling Interest on the Unaudited Condensed Consolidated Statements of Financial Condition at September 30, 2011 and December 31, 2010, respectively.

- Definition

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

+ References + Details

Net Income Per Share Attributable To Evercore Partners Inc. Common Shareholders

9 Months Ended

Sep. 30, 2011

Net Income Per Share Attributable To Evercore Partners Inc. Common Shareholders

Net Income Per Share Attributable To Evercore Partners Inc. Common Shareholders

Note 14 – Net Income Per Share Attributable to Evercore Partners Inc. Common Shareholders

The calculations of basic and diluted net income per share attributable to Evercore Partners Inc. common shareholders for the three and nine months ended September 30, 2011 and 2010 are described and presented below.


	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2011			2010			2011			2010
Basic Net Income Per Share Attributable to Evercore Partners Inc. Common Shareholders
Numerator:
Net income attributable to Evercore Partners Inc.	$	1,759		$	3,530		$	7,608		$	5,667
Associated accretion of redemption price of noncontrolling interest in Trilantic (See Note 13)		(21	)		(21	)		(63	)		(53	)

Net income attributable to Evercore Partners Inc. common shareholders	$	1,738		$	3,509		$	7,545		$	5,614
Denominator:
Weighted average shares of Class A common stock outstanding, including vested restricted stock units ("RSUs")		28,967			18,973			25,146			18,901

Basic Net Income Per Share Attributable to Evercore Partners Inc. common shareholders	$	0.06		$	0.18		$	0.30		$	0.30


Diluted Net Income Per Share Attributable to Evercore Partners Inc. Common Shareholders
Numerator:
Net income attributable to Evercore Partners Inc. common shareholders	$	1,738		$	3,509		$	7,545		$	5,614
Add (deduct)—dilutive effect of:
Noncontrolling Interest related to the assumed exchange of LP Units for Class A common shares		(a	)		(a	)		(a	)		(a	)
Associated corporate taxes related to the assumed elimination of Noncontrolling Interest described above		(a	)		(a	)		(a	)		(a	)

Diluted Net Income Available for Class A common shareholders	$	1,738		$	3,509		$	7,545		$	5,614


Denominator:
Weighted average shares of Class A common stock outstanding, including vested RSUs		28,967			18,973			25,146			18,901
Add—dilutive effect of:
Assumed exchange of LP Units for Class A common shares		(a	)		(a	)		(a	)		(a	)
Additional shares of the Company's common stock assumed to be issued pursuant to non-vested RSUs, as calculated using the Treasury Stock Method		1,387			1,414			1,738			1,825
Assumed conversion of Warrants issued		881			704			1,650			1,360

Diluted weighted average shares of Class A common stock outstanding		31,235			21,091			28,534			22,086

Diluted Net Income Per Share Attributable to Evercore Partners Inc. common shareholders	$	0.06		$	0.17		$	0.26		$	0.25

(a)

During the three and nine months ended September 30, 2011 and 2010, the LP Units (which represent the right to receive shares of Class A Shares upon exchange) were antidilutive and consequently the effect of their exchange into Class A Shares has been excluded from the calculation of diluted net income per share attributable to Evercore Partners Inc. common shareholders. The units that would have been included in the computation of diluted net income per share attributable to Evercore Partners Inc. common shareholders if the effect would have been dilutive were 8,864 and 10,791 for the three and nine months ended September 30, 2011, respectively, and 14,130 and 14,359 for the three and nine months ended September 30, 2010, respectively.

The shares of Class B common stock have no right to receive dividends or a distribution on liquidation or winding up of Evercore Partners Inc. The shares of Class B common stock do not share in the earnings of Evercore Partners Inc. and no earnings are allocable to such class. Accordingly, basic and diluted net income per share of Class B common stock have not been presented.

Stock-Based And Other Deferred Compensation

9 Months Ended

Sep. 30, 2011

Stock-Based And Other Deferred Compensation

Stock-Based And Other Deferred Compensation

Note 15 – Stock-Based and Other Deferred Compensation

Subsequent to the IPO, the Company granted new and existing employees RSUs and restricted stock. Certain of these awards vest upon the same terms as the RSUs issued at the time of the IPO ("Event-based Awards") and certain of these awards vest from one to five years ("Service-based Awards").

During the nine months ended September 30, 2011, pursuant to the Evercore Partners Inc. 2006 Stock Incentive Plan, the Company granted employees 1,854 RSUs that are Service-based Awards. Service-based Awards granted during the nine months ended September 30, 2011 had grant date fair values of $22.74 to $36.41 per share. During the nine months ended September 30, 2011, 1,460 Service-based Awards vested and 76 Service-based Awards were forfeited.

During the second quarter of 2011, 542 Event-based Awards vested in conjunction of the Company's offering of Class A Shares resulting in an expense of $11,389. The Company also modified and vested 48 Event-based Awards and 27 Event-based Awards were forfeited during the nine months ended September 30, 2011.

During the first quarter of 2011, the Company amended the terms of a Service-based Award with the respect to 133 RSUs. Due to this amendment, $2,828 was reclassified from Additional Paid-in Capital to Other Current Liabilities on the Unaudited Condensed Consolidated Statement of Financial Condition.

During the first quarter of 2011, the Company launched a deferred compensation program providing participants the ability to elect to receive a portion of their deferred compensation in supplemental RSUs or deferred cash, which is indexed to a notional investment portfolio. The Company granted 76 RSUs related to this program during the first quarter of 2011 and awarded deferred cash compensation of $9,153, each of which will vest ratably over four years and require payment upon vesting. Compensation expense related to this deferred compensation program was $626 and $1,696 for the three and nine months ended September 30, 2011, respectively.

Compensation expense related to stock-based awards, including compensation expense related to the amortization of the LP Units and the vesting of Event-based Awards, was $18,477 and $65,900 for the three and nine months ended September 30, 2011, respectively, which included $2,075 of deferred share consideration related to the Lexicon transaction, and $13,277 and $41,657 for the three and nine months ended September 30, 2010, respectively.

During the third quarter of 2011, the Company incurred expenses associated with deferred cash consideration related to the Lexicon transaction of $775.

Commitments And Contingencies

9 Months Ended

Sep. 30, 2011

Commitments And Contingencies

Commitments And Contingencies

Note 16 – Commitments and Contingencies

For a complete discussion of the Company's commitments, refer to the Company's Annual Report on Form 10-K for the year ended December 31, 2010.

Operating Leases – The Company leases office space under non-cancelable lease agreements, which expire on various dates through 2023. The Company reflects lease expense over the lease terms on a straight-line basis. Occupancy lease agreements, in addition to base rentals, generally are subject to escalation provisions based on certain costs incurred by the landlord. Occupancy and Equipment Rental on the Unaudited Condensed Consolidated Statements of Operations includes occupancy rental expense relating to operating leases of $3,976 and $11,298 for the three and nine months ended September 30, 2011, respectively, and $2,967 and $8,093 for the three and nine months ended September 30, 2010, respectively.

During the third quarter of 2011, the Company agreed to lease 39,261 square feet of office space at 15 Stanhope Gate, London, England, expiring in March 2022 with annual base rental payments of approximately $2,200.

Other Commitments – As of September 30, 2011, the Company has unfunded commitments for capital contributions of $6,933 to the private equity funds. These commitments will be funded as required through the end of each private equity fund's investment period, subject to certain conditions. Such commitments are satisfied in cash and are generally required to be made as investment opportunities are consummated by the private equity funds.

As a result of the offering of common stock which occurred during the second quarter of 2011, the Amounts Due Pursuant to Tax Receivable Agreements increased to $142,512. As of September 30, 2011, the Company estimates the contractual obligations related to the Tax Receivable Agreements to be $146,496. The Company expects to pay to the counterparties to the Tax Receivable Agreement $3,983 within one year or less, $20,497 in one to three years, $23,464 in three to five years and $98,522 after five years.

On August 19, 2011, the Company consummated its acquisition of Lexicon. See Note 4 for information related to the Company's commitment in this transaction.

The Company also has commitments related to its redeemable noncontrolling interests. See Note 13 for further information.

Contingencies

In the normal course of business, from time to time the Company and its affiliates may be involved in judicial proceedings, arbitration or mediation concerning matters arising in connection with the conduct of its businesses, including contractual and employment matters. In the past, the Company and its affiliates have been involved in civil litigation matters. In addition, Mexican, United Kingdom, Hong Kong and United States government agencies and self-regulatory organizations, as well as state securities commissions in the United States, conduct periodic examinations and initiate administrative proceedings regarding the Company's business, including, among other matters, accounting and operational matters, that can result in censure, fine, the issuance of cease-and-desist orders or the suspension or expulsion of a broker-dealer, investment advisor, or its directors, officers or employees. In view of the inherent difficulty of predicting the outcome of such matters, particularly in cases where claimants seek substantial or indeterminate damages or where investigations and proceedings are in the early stages, the Company cannot predict the loss or range of loss, if any, related to such matters, how or if such matters will be resolved, when they will ultimately be resolved, or what the eventual settlement, fine, penalty or other relief, if any, might be. Subject to the foregoing, the Company believes, based on current knowledge and after consultation with counsel, that it is not currently party to any material pending proceedings, individually or in the aggregate, the resolution of which would have a material effect on the Company. Legal reserves are established in accordance with ASC 450, "Accounting for Contingencies" when warranted. Once established, reserves are adjusted when there is more information available or when an event occurs requiring a change.

- Definition

The entire disclosure for commitments and contingencies.

+ References

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+ Details

Regulatory Authorities

9 Months Ended

Sep. 30, 2011

Regulatory Authorities

Regulatory Authorities

Note 17 – Regulatory Authorities

EGL is a U.S. registered broker-dealer and is subject to the net capital requirements of Rule 15c3-1 under the Securities Exchange Act of 1934 as amended (the "Exchange Act"). Rule 15c3-1 requires the maintenance of net capital, as defined, which shall be the greater of $100 or 6 2/3% of aggregate indebtedness, as defined. EGL's regulatory net capital as of September 30, 2011 and December 31, 2010 was $106,091 and $62,583, respectively, which exceeded the minimum net capital requirement by $102,904 and $60,738, respectively. Certain other non-U.S. subsidiaries are subject to various securities and banking regulations and capital adequacy requirements promulgated by the regulatory and exchange authorities of the countries in which they operate. These subsidiaries have consistently operated in excess of their local capital adequacy requirements.

ETC, which is limited to fiduciary activities, is regulated by the Office of the Comptroller of the Currency ("OCC") and is a member bank of the Federal Reserve System. The Company, Evercore LP and ETC are subject to written agreements with the OCC that, among other things, require the Company and Evercore LP to (1) maintain at least $5,000 in Tier 1 capital in ETC (or such other amount as the OCC may require), (2) maintain liquid assets in ETC in an amount at least equal to the greater of $3,500 or 90 days coverage of ETC's operating expenses and (3) provide at least $10,000 of certain collateral held in a segregated account at a third-party depository institution. The collateral is included in Assets Segregated for Bank Regulatory Requirements on the Unaudited Condensed Consolidated Statements of Financial Condition. The Company was in compliance with the aforementioned agreements as of September 30, 2011.

Certain other non-U.S. subsidiaries are subject to various capital adequacy requirements promulgated by the regulatory authorities of the countries in which they operate. These subsidiaries have consistently operated in excess of their local capital adequacy requirements.

- Definition

The entire disclosure for banks, savings institutions, and credit unions, for regulatory capital requirements imposed by the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS) or for any state imposed capital requirements, as applicable. The disclosure may include (1) a description of regulatory capital requirements (a) for capital adequacy purposes and (b) established by the prompt corrective action provisions of Section 38 of the Federal Depository Insurance Act; (2) the actual or possible material effects of noncompliance with such requirements; (3) whether the entity is in compliance with the regulatory capital requirements including (a) required and actual ratios and amounts of Tier 1 leverage, Tier 1 risk-based, and total risk-based capital, tangible capital (for savings institutions), and Tier 3 capital for market risk (for certain banks and bank holding companies), (b) factors that may significantly affect capital adequacy; (4) the prompt corrective action category in which the entity was classified as of its most recent notification; (5) whether management believes any conditions or events since notification have changed the entity's category. Also may include additional information that might be disclosed in situations where substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Audit and Accounting Guide (AAG)
-Number AAG-DEP
-Chapter 17
-Paragraph 15, 16, 17
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+ Details

Income Taxes

9 Months Ended

Sep. 30, 2011

Income Taxes

Income Taxes

Note 18 – Income Taxes

The Company's Provision for Income Taxes was $10,626 and $20,861 for the three and nine months ended September 30, 2011, respectively, and $8,547 and $11,508 for the three and nine months ended September 30, 2010, respectively. The effective tax rate was 89% and 60% for the three and nine months ended September 30, 2011, respectively, and 49% and 46% for the three and nine months ended September 30, 2010, respectively. The effective tax rate for 2011 and 2010 reflects the effect of certain compensation transactions, as well as the noncontrolling interest associated with LP Units. The effective tax rate for 2010 also reflected the effect of losses in certain foreign jurisdictions for which no income tax benefits are anticipated.

The Company reported an increase in deferred tax assets of $4,159 associated with changes in Accumulated Other Comprehensive Income (Loss) for the nine months ended September 30, 2011.

As of September 30, 2011, there was $1,981 of unrecognized tax benefits that, if recognized, would affect the effective tax rate. The Company does not anticipate a significant change in unrecognized tax positions as a result of the settlement of income tax audits for examining the Company's income tax returns during the upcoming year.

The Company classifies interest relating to tax matters and tax penalties as a component of income tax expense in its Unaudited Condensed Consolidated Statements of Operations. Related to the unrecognized tax benefits, the Company accrued interest of $36 and $108 during the three and nine months ended September 30, 2011, respectively, and had recognized a liability for penalties of $561 and interest of $825 at September 30, 2011.

As a result of the Company's offering of common stock which occurred during the second quarter of 2011, Deferred Tax Assets – Non-Current and Amounts Due Pursuant to Tax Receivable Agreements increased $47,481 and $40,360, respectively, on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2011. See Note 12 for further information.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Segment Operating Results

9 Months Ended

Sep. 30, 2011

Segment Operating Results

Segment Operating Results

Note 19 – Segment Operating Results

Business Segments – The Company's business results are categorized into the following two segments: Investment Banking and Investment Management. Investment Banking includes providing advice to clients on significant mergers, acquisitions, divestitures and other strategic corporate transactions. During 2010, the Investment Banking segment (formerly called the Advisory segment) expanded to include 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. During the second quarter of 2010, the Investment Management segment expanded to include the acquisitions of Atalanta Sosnoff and Morse Williams and Company, Inc. ("Morse Williams"). During the third quarter of 2011, the Investment Banking segment expanded to include the acquisition of Lexicon.

The Company's segment information for the three and nine months ended September 30, 2011 and 2010 was prepared using the following methodology:

•

Revenue, expenses and income (loss) from equity method investments directly associated with each segment are included in determining pre-tax income.

•

Expenses not directly associated with specific segments are allocated based on the most relevant measures applicable, including headcount and other factors.

•

Segment assets are based on those directly associated with each segment, or for certain assets shared across segments, those assets are allocated based on the most relevant measures applicable, including headcount and other factors.

•

Investment gains and losses, interest income and interest expense are allocated between the segments based on the segment in which the underlying asset or liability is held.

Each segment's Operating Expenses include: a) employee compensation and benefits expenses that are incurred directly in support of the segment and b) non-compensation expenses, which include expenses for premises and occupancy, professional fees, travel and entertainment, communications and information services, equipment and indirect support costs (including compensation and other operating expenses related thereto) for administrative services. Such administrative services include, but are not limited to, accounting, tax, legal, facilities management and senior management activities. Other Expenses include: a) amortization costs associated with the modification of unvested LP Units and certain other awards, b) charges associated with the vesting of Event-based Awards, c) the amortization of intangible assets associated with certain acquisitions, d) compensation charges associated with deferred consideration, retention awards and related compensation for Lexicon employees, e) a charge related to the exiting of a lease commitment for office space and an introducing fee in connection with the Lexicon acquisition and f) a charge associated with the write-off of intangible assets associated with the Company's planned exit of EAM .

The Company evaluates segment results based on net revenue and pre-tax income, both including and excluding the impact of the Other Expenses.

One client accounted for more than 10% of the Company's consolidated Net Revenues for the three months ended September 30, 2011.

The following information provides a reasonable representation of each segment's contribution.


	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2011			2010			2011			2010
Investment Banking
Net Revenues (1)	$	139,166		$	100,760		$	335,521		$	225,300
Operating Expenses		109,376			75,966			263,037			176,645
Other Expenses (2)		16,969			4,570			37,836			14,557

Operating Income		12,821			20,224			34,648			34,098
Income from Equity Method Investments		256			—			1,172			—

Pre-Tax Income	$	13,077		$	20,224		$	35,820		$	34,098

Identifiable Segment Assets	$	569,741		$	379,281		$	569,741		$	379,281


Investment Management
Net Revenues (1)	$	24,777		$	22,958		$	78,258		$	51,409
Operating Expenses		24,043			24,508			72,699			57,242
Other Expenses (2)		1,831			978			6,141			2,882

Operating Income (Loss)		(1,097	)		(2,528	)		(582	)		(8,715	)
Income (Loss) from Equity Method Investments		(61	)		(131	)		(508	)		(441	)

Pre-Tax Income (Loss)	$	(1,158	)	$	(2,659	)	$	(1,090	)	$	(9,156	)

Identifiable Segment Assets	$	500,084		$	701,187		$	500,084		$	701,187


Total
Net Revenues (1)	$	163,943		$	123,718		$	413,779		$	276,709
Operating Expenses		133,419			100,474			335,736			233,887
Other Expenses (2)		18,800			5,548			43,977			17,439

Operating Income		11,724			17,696			34,066			25,383
Income (Loss) from Equity Method Investments		195			(131	)		664			(441	)

Pre-Tax Income	$	11,919		$	17,565		$	34,730		$	24,942

Identifiable Segment Assets	$	1,069,825		$	1,080,468		$	1,069,825		$	1,080,468

(1)	Net revenues include Other Revenue, net, allocated to the segments as follows:


	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2011			2010			2011			2010
Investment Banking (A)	$	(829	)	$	(607	)	$	(2,222	)	$	506
Investment Management (B)		(706	)		(585	)		(2,185	)		210

Total Other Revenue, net	$	(1,535	)	$	(1,192	)	$	(4,407	)	$	716

(A)

Investment Banking Other Revenue, net, includes interest expense on the Senior Notes of $1,059 and $3,171 for the three and nine months ended September 30, 2011, respectively, and $1,042 and $3,119 for the three and nine months ended September 30, 2010, respectively.

(B)

Investment Management Other Revenue, net, includes interest expense on the Senior Notes of $894 and $2,678 for the three and nine months ended September 30, 2011, respectively, and $881 and $2,637 for the three and nine months ended September 30, 2010, respectively.

(2)	Other Expenses are as follows:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2011		2010		2011		2010
Investment Banking
Amortization of LP Units and Certain Other Awards	$	4,580	$	4,101	$	15,603	$	13,150
Vesting of Event-based Awards		—		—		8,906		—
Acquisition Related Compensation Charges		7,729		—		7,729		—
Special Charges		2,626		—		2,626		—
Intangible Asset Amortization		2,034		469		2,972		1,407

Total Investment Banking		16,969		4,570		37,836		14,557

Investment Management
Amortization of LP Units and Certain Other Awards		741		863		2,338		2,537
Vesting of Event-based Awards		—		—		2,483		—
Special Charges		975		—		975		—
Intangible Asset Amortization		115		115		345		345

Total Investment Management		1,831		978		6,141		2,882

Total Other Expenses	$	18,800	$	5,548	$	43,977	$	17,439

Geographic Information – The Company manages its business based on the profitability of the enterprise as a whole.

The Company's revenues were derived from clients and private equity funds located in the following geographical areas:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2011		2010		2011		2010
Net Revenues: (1)
United States	$	132,660	$	100,353	$	323,804	$	229,443
Europe and Other		22,364		16,909		69,313		31,111
Latin America		10,454		7,648		25,069		15,439

Total	$	165,478	$	124,910	$	418,186	$	275,993

(1)

Excludes Other Revenue and Interest Expense.

Substantially all of the Company's long-lived assets reside in the United States.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details