EX-99.6 8 dex996.htm SELECTED FINANCIAL INFORMATION OF PROTEGO HISTORICAL Selected financial information of Protego Historical

Exhibit 99.6

Protego Asesores

Prior to this offering, and concurrently with the Formation Transaction, Evercore LP will acquire Protego Asesores and its subsidiaries (including a 70% interest in Protego’s asset management subsidiary) and Protego SI in exchange for $7.0 million aggregate principal amount of non-interest bearing notes, and, once Protego is acquired, Mr. Aspe and the other Protego Directors will become Senior Managing Directors of Evercore and, collectively with certain companies they control, certain trusts benefiting their families and a trust benefiting Directors and employees of Protego, subscribe for partnership units in Evercore LP. In addition, Protego will distribute to its Directors cash and, to the extent cash is not available, notes or interests in certain accounts receivable so as to distribute to its Directors all earnings for the period from January 1, 2005 to the date of the closing of the contribution and sale agreement. See “Organizational Structure—Combination with Protego”.

The following summary historical combined financial data should be read in conjunction with Protego’s audited combined financial statements and related notes thereto included elsewhere in this prospectus. The summary historical combined statement of income data presented below for each of the years ended December 31, 2003, December 31, 2004 and December 31, 2005, have been derived from Protego’s historical combined and consolidated financial statements included elsewhere in this prospectus. The summary historical combined statement of income data presented below as of March 31, 2006 and for the three months ended March 31, 2005 and 2006, have been derived from Protego’s unaudited interim combined financial statements included elsewhere in this prospectus.

 

    Year Ended December 31,     Three Months Ended
March 31,
 
    2003   2004     2005     2005     2006  
              Restated     Restated     Restated  

(dollars in thousands)

         

Statement of Income Data

         

Revenues:

         

Advisory:

  $   9,083   $ 12,229     $ 16,388     $ 8,318     $ 2,289  

Investment Management

    —       670       2,855       562       789  

Interest Income and Other

    68     (50 )     2,434       53       1,224  
                                     

Total Revenues

    9,151     12,849       21,677       8,933       4,302  

Interest Expense

    —       —         2,156       33       1,061  
                                     

Net Revenues

    9,151     12,849       19,521       8,900       3,241  

Expenses:

         

Employee Compensation and Benefits

    5,161     5,700       8,347       3,323       1,579  

Other Operating Expenses

    2,914     4,056       7,022       1,235       1,372  
                                     

Total Operating Expenses

    8,075     9,756       15,369       4,558       2,951  
                                     

Operating Income

    1,076     3,093       4,152       4,342       290  

Total Income Tax, Net

    96     1,034       1,969       1,787       236  

Minority Interest (a)

    —       —         (1,199 )     (442 )     (192 )
                                     

Net Income (b)

  $      980   $   2,059     $   3,382     $ 2,997     $ 246  
                                     

(dollars in thousands)

         

Operating Metrics

         

Number of Advisory Clients

    47     36       48       27       42  

Advisory Senior Managing Director Headcount

    5     5       5       5       5  

Advisory Revenue per Advisory Senior Managing Director

  $ 1,817   $ 2,446     $ 3,278     $ 1,664     $ 458  

 

    As of March 31,
2006
    Restated

(dollars in thousands)

 

Statement of Financial Condition Data

 

Total Assets

  $ 107,171

Total Liabilities

    99,766

Minority Interest

    1,633

Members’ Equity

    5,772

(a) Minority interest reflects the pro-rata share of the losses in Protego’s asset management entity Protego Casa de Bolsa allocated to third party ownership of 49%.
(b) Pursuant to a contribution and sale agreement, pre-incorporation profits will be distributed to the Protego Directors prior to this offering. The profits distribution will equal net income for the period from January 1, 2005 to the closing of the contribution and sale agreement.

 

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