Placement agents are adding staff and opening new offices to cope with a spike in demand from private equity firms, many of which need to raise cash in the worst fundraising market for seven years.

Evercore Partners, the boutique investment bank, has hired two executives for its placement group, which it acquired from Lehman Brothers' former asset management arm, Neuberger Berman, in February. The hires take the division's headcount to 13, from nine at the time of the acquisition.