Evercore Partners Announces the Acquisition of Private Funds Placement Group from Neuberger Berman

LONDON, February 24, 2010 - Evercore Partners Inc. (NYSE: EVR) and Neuberger Berman announce that
Evercore Partners has acquired key assets of the Private Funds Placement
Group of Neuberger Berman.

The group, headquartered in London with personnel in both Europe and the
United States, advises fund sponsors on all aspects of the fundraising
process including competitive positioning and market assessment, investor
introductions, marketing materials, due diligence, asset raising and
documentation. The group has served as a placement agent to funds across a
wide range of alternatives strategies, including buyout, co-investment,
distressed, real estate, credit/mezzanine, energy/infrastructure, fund of
funds and venture capital.

Upon its transition to Evercore, the business will operate as Evercore
Private Funds Group, which will initially be comprised of eight
professionals. Evercore expects the Private Funds Group to grow as it
establishes a broader presence in the United States and expands its reach
across continental Europe and the Middle East. As part of the agreement
Neuberger Berman will receive earnout payments which provide them with an
economic interest in the success of the group for a period of time.

Ralph Schlosstein, Evercore's President and Chief Executive Officer,
said, "The addition of this group reflects the continued expansion of our
global platform." Mr. Schlosstein added, "The fund placement business fits
perfectly into the Evercore model of providing independent advisory services
to our clients based on our intellectual capital and relationships. The
business will leverage Evercore's strong relationships with leading fund
sponsors, and will add significantly to our network of relationships with
institutional investors."

George Walker, Chairman and Chief Executive of Neuberger Berman, said,
"We look forward to working with Evercore in ways that leverage both our
relative strengths in the private funds business."

Richard Anthony, who will head the Evercore Private Funds Group, said,
"The team and I are excited to join Evercore and we believe that their
position in the market of providing independent advice will enable us to best
serve our clients and grow our business."

About Evercore Partners

Evercore Partners is a leading independent investment banking advisory
firm. Evercore's Advisory business counsels its clients on mergers,
acquisitions, divestitures, restructurings, capital raising, financings and
other strategic transactions. Evercore's Investment Management business
comprises wealth management, institutional asset management and private
equity investing. Evercore serves a diverse set of clients around the world
from its offices in New York, San Francisco, Boston, Washington D.C., Los
Angeles, Houston, London, Mexico City and Monterrey, Mexico. More information
about Evercore can be found on the Company's Web site at
www.evercore.com. EVR-X

About Neuberger Berman

Established in 1939, Neuberger Berman is one of the world's largest
private, independent employee controlled asset management companies, managing
approximately US$173 billion in assets as of December 31, 2009. Neuberger
Berman is a leader in providing a broad range of global investment solutions
to institutions and individuals through customized separately managed
accounts, mutual funds and alternative investment products. For more
information please visit our website at www.nb.com.

Investors: Robert B. Walsh, Chief Financial Officer, Evercore Partners, +1-212-857-3100; Media: Nick Woodruff (U.K.), Finsbury, for Evercore Partners, +44-20-7251-3801, or Kenny Juarez (U.S.), The Abernathy MacGregor Group, for Evercore Partners, +1-212-371-5999; Randall Whitestone, Neuberger Berman, +1-212-476-5392