Moelis & Co., the advisory firm founded by Kenneth Moelis, told its bankers it will distribute $35m to investors and employees with a stake in the company, a person with direct knowledge of the matter said.
Bloomberg News reports that the money will be disbursed this month and recipients will include managing directors and partners, said the person, who requested anonymity because the decision wasn’t announced publicly.
It will be the first cash distribution for New York-based Moelis, according to the Financial Times, which reported on the payouts Monday.
The closely held firm has been winning more business. Moelis ranks 11th by market share this year among companies advising on mergers and acquisitions, rising from 24th in 2012, data compiled by Bloomberg show.
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