Boutique investment bank Evercore Partners Inc. (EVR) raised $82.95 million in the initial public offering, higher than expectations.

The company priced its initial public offering of 3.95 million shares, which represents about a 15% stake, at $21.00 per share on Thursday. The price came above the forecast of $18 to $20 per share.

In addition, the underwriters have an option to buy 592,500 additional shares to cover over-allotments, which could increase the total value of the IPO to more than $582 million.

Lehman Brothers was the lead manager for the offering. Goldman Sachs and J.P. Morgan were joint lead managers. Keefe, Bruyette & Woods, Fox-Pitt, Kelton and E*TRADE FINANCIAL were acting as co-managers.

Evercore Partners is a leading investment banking boutique and investment firm. Evercore''s advisory business counsels its clients on mergers, acquisitions, divestitures, restructurings and other strategic transactions.

The company has advised on more than $300 billion in announced deals over its 10-year existence and increased revenue to $125.6 million in 2005 from $46.0 million in 2001, according to the filing with SEC.

The investment bank''s shares closed up $3.85, or 18.3%, to $24.85 on the NYSE on Friday.

Evercore is the only finance IPO to price above range the current year.

Thomas Weisel Partners Group Inc. (TWPG), which went public in February at $15, started off well, gaining 33% in its debut, but its shares traded at $12.99 on Friday.

Cowen Group Inc. (COWN), a spun off from French bank Societe Generale (SOGN), followed in July but priced below its expected range at $16 and closed at $14.10 on Friday.

Lazard Ltd.’s (LAZ) shares are up about 53% since the company went public last year, while Greenhill & Co. Inc.’s (GHL) shares are more than three times up from their 2004 debut.