By Milana Vinn
NEW YORK (Reuters) - Investment bank Evercore has hired a top Goldman Sachs dealmaker as a senior managing director to help drive its coverage of private equity firms and alternative asset managers, people familiar with the matter said on Friday.
David Kamo, who was named global head of dealmaking for financial sponsors at Goldman last year, will join Evercore in the coming months after a period of gardening leave, the sources said, requesting anonymity as the discussions are confidential.
Evercore and Goldman both declined to comment.
Over the past year, Evercore has hired several top dealmakers from rivals in its push to win more business from large corporates and private equity firms, amid a slowdown in dealmaking activity.
Those efforts have started to pay off. Evercore was ranked sixth in global league tables for financial advisors during the first half of 2024, while it was ranked 12 during the same period last year, according to data compiled by Dealogic.
Kamo joined Goldman in 2016 and became a partner at the bank in 2020. Before joining Goldman, he spent the previous 10 years at Lehman Brothers and Barclays, according to his LinkedIn profile.
Earlier this year, Goldman hired two senior bankers from JPMorgan, Haidee Lee and Carsten Woehrn, to strengthen its financial sponsors coverage group.
Deal activity involving private equity firms has rebounded this year as buyout firms have deployed more capital, after a spike in financing costs last year triggered a slowdown in dealmaking. Global leveraged buyout volumes jumped 41% to $286 billion during the first half of 2024, according to Dealogic.