Moelis & Co is an advisory firm founded by Kenneth Moelis in 2007. The company told its bankers that it has decided to distribute US$35 million to investors and employees with a stake in the company. This was according to a person who has direct knowledge of the matter.
The cash will be disbursed this month. The recipients would include managing directors and partners according to one person who asked not to be identified as the decision was not yet made public. According to the Financial Times, this would be the first cash distribution for the New York based company. The newspaper reported the said payouts yesterday.
In 2012, Moelis rose among other companies and landed an 11th spot by market share from its 24th rank. This was shown in a data compiled by Bloomberg. Moelis & Co is responsible in advising companies regarding mergers and acquisitions. It advised firms including Life Technologies Corp on a strategic review which led to a sale. The company was also responsible in giving advice to HJ Heinz Co. regarding its buyout from Berkshire Hathaway Inc.
As a part of its business review, Moelis dismissed about 20 bankers in New York and London last month according to people with direct information of the matter.
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