Evercore is an leading global independent investment banking advisory firm founded in 1996 by Roger Altman, David Offensend, and Austin Beutner. The firm has advised corporations, institutions, and governments on many of the largest and most complex strategic transactions in the marketplace. Evercore’s Investment Banking business advises its clients on mergers and acquisitions, divestitures, restructurings, financings, public offerings, private placements and other strategic transactions and also provides institutional investors with macro and fundamental equity research, sales and trading execution. Evercore’s Investment Management business comprises wealth management, institutional asset management and private equity investing. Evercore serves clients from 28 offices in North America, Europe, South America and Asia. In August 2014, Evercore announced the acquisition of International Strategy & Investment ("ISI") Group for approximately $400 million. The deal was closed the following October to create Evercore ISI Institutional Equities, offering Macro and Fundamental Research, Sales, and Trading execution. In 2014, the firm secured the second highest number of Institutional Investor #1 positions, after J.P. Morgan, and also ranked #5 in total II positions.