US advisory boutique Evercore Partners has picked up from where it left off in 2012 with a record first quarter for revenues.

Evercore yesterday reported net revenues of $151.4m for the first three months of 2013, up 47% year-on-year and but down 29% from the fourth quarter of 2012. Net profits of $6m were up from a $3.4m loss a year ago but, again, down on the fourth quarter by 69%.