Evercore advises Icat on strategic options

Evercore has been appointed by US property cat specialist Icat
and its parent Paraline Group to advise on strategic options that
could include an eventual sale, The Insurance
Insider can reveal.
According to sources, the underwriter is in the early stages of
working with boutique investment bank Evercore after receiving a
growing number of queries from potential buyers and investors in
recent years.
Paraline Group is backed by hedge fund Elliott Management and
private equity firm Wand Partners,