FTI Consulting Joins with Compass Advisers to Form EdgeRock Realty Advisors
Investment Banking Venture Leverages Expertise in Real Estate, Capital Markets, and Restructuring; Offers Independent Perspective and 'Boutique'-Style Approach for Real Estate Sector ExclusivelyWEST PALM BEACH, Fla., Oct 19, 2009 /PRNewswire-FirstCall via COMTEX/ -- FTI Consulting, Inc. (NYSE: FCN), the global business advisory firm dedicated to helping organizations protect and enhance their enterprise value, today announced the formation of a joint venture company between FTI and Compass Advisers, LLP, a leading investment banking and financial advisory firm, to create a new investment banking firm dedicated exclusively to the global real estate sector. The new company, called EdgeRock Realty Advisors ("EdgeRock"), will build on FTI's growing market leadership in the real estate sector, which expanded with the company's acquisition of The Schonbraun McCann Group (SMG) in 2008.
Based in New York City, EdgeRock will leverage its strategic partners' deep expertise in real estate, capital markets and restructuring to build an independent investment bank designed to offer clients boutique-style intimacy and long-term advisory relationships. EdgeRock will advise real estate companies, owners and institutional investors on M&A and divestiture transactions, private capital raising, and IPO and other capital markets strategies, while also providing clients with access to FTI's industry-leading restructuring and real estate capital markets advisory expertise.
"This new venture represents another important milestone in FTI's strategy to extend our leadership in key industry sectors by giving clients in those sectors access to the broadest possible array of services and solutions," said Dominic DiNapoli, Executive Vice President and Chief Operating Officer for FTI Consulting. "With access to FTI's unequalled real estate and restructuring expertise, as well as Compass' proven track record in capital markets transactions, EdgeRock is built on a uniquely powerful platform and will serve a pressing need in the complex global real estate market."
Serving as Co-CEOs of EdgeRock are Bruce Schonbraun, currently Senior Managing Director and Head of Global Real Estate for FTI Consulting, and Stephen Waters, the Founder and Managing Partner at Compass Advisers. In addition, David Lazarus, formerly Managing Director in the Global Real Estate Group of Lehman Brothers/Barclays Capital, will serve as a Senior Managing Director. The company has already engaged with several clients for ongoing advisory assignments and is actively recruiting professionals for its New York office. More information on EdgeRock is available at www.edgerockadvisors.com.
Bruce Schonbraun, Co-CEO of EdgeRock Realty Advisors, commented: "As a result of the economic and financial dislocation of the past 18 months, the global real estate marketplace is in a state of significant flux, and we believe the sector will present market participants with further challenges and also unique opportunities over the next two years. In such a transformational environment, real estate companies and institutional investors are seeking advisors who can offer them more than simply transaction execution, but also rigorous analysis and thoughtful advice. With the capabilities and support of our two strategic partners, EdgeRock is built on a unique and powerful platform tailor-made for this new era. We are confident that this is the right offering at the right time."
Stephen Waters, Co-CEO of EdgeRock Realty Advisors, said: "Over the past 18 months, the traditional investment banking landscape has experienced significant disruption, which has served to reinforce the need for - and value of - independent advisors like EdgeRock. I am thrilled by the prospects of this new venture, which will bring the values of independence, trust and discretion to clients in the global real estate market. The combination of FTI's global breadth, deep real estate knowledge, and restructuring prowess makes them the ideal partner to create a winning investment banking platform for a market as complex and dynamic as global real estate."
About FTI Consulting
FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations protect and enhance enterprise value in an increasingly complex legal, regulatory and economic environment. With more than 3,400 employees located in most major business centers in the world, we work closely with clients every day to anticipate, illuminate, and overcome complex business challenges in areas such as corporate finance and restructuring, disputes and investigations, economic consulting, mergers and acquisitions, reputation management and technology solutions. More information can be found at www.fticonsulting.com.
About Compass Advisers
Compass Advisers is a leading private investment banking and advisory firm providing independent senior-level advice and execution of complex capital markets strategies and cross-border transactions to our global clientele. With offices in New York, London, Shanghai, and Milan, Compass advises corporations, institutional investors, entrepreneurs, private families and sovereign governments in the areas of M&A and divestitures, restructuring, and private capital solutions. More information can be found at www.ca-llp.com.
SOURCE FTI Consulting, Inc.