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 Exclusively
WEST PALM BEACH, Fla., Oct. 19 /PRNewswire-FirstCall/ -- 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.
Jack Dunn, President & CEO, FTI Consulting, +1-410-951-4800; or, for
Investors, Gordon McCoun and for Media, Andy Maas, both of FD for FTI
Consulting, +1-212-850-5600
© Thomson Reuters 2009 All rights reserved




