Evercore Partners
Moelis seeks $1.58-billion valuation in IPO

Boutique Los Angeles investment bank Moelis & Co. is seeking a valuation of as much as $1.58 billion in its initial public offering. Moelis may raise as much as $243.5 million by selling 8.4 million shares for $26 to $29 each, according to a regulatory filing Friday. At the top of the range, the company would have a market value of $1.58 billion, the filing shows. Ken Moelis, 55, and his partners are planning to capitalize on the Century City-based company's growth and a rebound in the pace of mergers and acquisitions worldwide. About $141 million of the proceeds will be used to make payments to partners, and the IPO is structured so that Moelis will maintain control with 97% of...