PJT Partners

What PJT Partners does

PJT Partners Inc. is a publicly traded (NYSE: PJT) global advisory-focused investment bank formed in October 2015 through the combination of Blackstone's financial advisory, restructuring, and Park Hill fund placement businesses with PJT Capital LP, founded by Paul J. Taubman. The firm operates three core service lines: Strategic Advisory (M&A, capital markets advisory, shareholder advisory, and strategic transformations), Restructuring & Special Situations (debt restructuring, distressed advisory, and special situations work, where it consistently ranks #1 in global league tables), and Fund Advisory through PJT Park Hill (fund placement and secondary advisory for alternative asset managers spanning private equity, real estate, hedge funds, and private credit). Its customer base includes public and private corporations, financial sponsors, institutional investors, and government/sovereign entities, served through a senior-professional coverage model in which experienced bankers engage directly with clients.

The firm generates revenue on a professional-services fee model — transaction fees, retainers, and bespoke advisory engagements — with pricing negotiated per mandate and tied to transaction complexity, size, and scope. Revenue is split across the three service lines, with strategic M&A accounting for approximately 62% of 2025 revenue and countercyclical restructuring accounting for 35%, providing a deliberate balance between cyclical and non-cyclical streams. Fund placement fees at PJT Park Hill grew 64% year-over-year in Q4 2025, reflecting strong momentum in alternative asset manager capital raising.

PJT Partners is headquartered at 280 Park Avenue, New York, and operates through regulated entities in London, Madrid, Paris, Frankfurt, Dubai, Riyadh, Hong Kong, and Tokyo — a nine-jurisdiction footprint spanning the Americas, EMEA, the Gulf, and Asia-Pacific. As of December 31, 2025, the firm had 1,224 employees and 133 partners, up from 1,143 and 119 respectively a year earlier. FY2025 revenue reached $1.71 billion (+15% YoY), and Q1 2026 revenue was a record $418.2 million (+29% YoY). The firm announced an $800 million share repurchase program in April 2026 and trades at approximately $3.4 billion market capitalization. PJT uses standard financial technology infrastructure rather than proprietary technology products; its competitive position rests on senior talent pedigree, league-table rankings, and global regulated reach rather than on technology differentiation.

Name

PJT Partners

Legal name

PJT Partners Inc.

Website

https://pjtpartners.com

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

PJT Partners (NYSE: PJT) is a global advisory-focused investment bank founded in 2015, offering strategic advisory, restructuring, and fund placement (PJT Park Hill) services to corporations, financial sponsors, institutional investors, and governments across nine regulated jurisdictions worldwide.

Ownership category

akta.pro rank

Product category

Investment Banking & Financial Advisory

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Strategic Partnerships, Alliances & JVs Advisory (BPAHADAI)

Keywords

• Investment banking services
• Mergers and acquisitions advisory
• Restructuring advisory services
• Fund placement advisory
• Strategic financial advisory

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices9 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Strategic Advisory: Revenue from providing strategic advisory services including M&A, capital markets advisory, and shareholder advisory to corporations, financial sponsors, and institutional investors. The firm delivered record Strategic Advisory performance with mandate count up approximately 15% year-over-year in Q1 2026.
2. Restructuring & Special Situations: Revenue from restructuring advisory and special situations work, including Chapter 11 proceedings, debt restructurings, and distressed asset advisory. The firm ranked #1 in announced and completed U.S. and global restructurings.
3. Fund Advisory (Park Hill): Revenue from PJT Park Hill, which provides fund placement and secondary advisory services for alternative asset managers including private equity, real estate, hedge funds, and private credit. Placement fees jumped 64% year-over-year in Q4 2025.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels3 records

Core offering

PJT Partners is a global advisory-focused investment bank that provides strategic advisory, restructuring and special situations, and fund placement (through PJT Park Hill) services. The firm delivers independent advice on complex M&A, capital markets, debt restructuring, shareholder advisory, and alternative asset manager fund-raising mandates to corporations, financial sponsors, institutional investors, and governments worldwide.

Product overview

PJT Partners is a premier global advisory-focused investment bank offering a portfolio of advisory services including Strategic Advisory, Restructuring & Special Situations, and Fund Advisory through PJT Park Hill. The firm operates as a unified advisory platform rather than a product-based company, providing M&A advisory, restructuring, and fund placement services to corporations, financial sponsors, institutional investors, and governments worldwide.

Differentiator

Problem solved

Functional benefit

Brands

• PJT Park Hill: Premier advisor to alternative asset managers, delivering investor access and capital intelligence across asset classes.

Products and services

• Strategic Advisory
• Restructuring & Special Situations
• PJT Park Hill (Fund Advisory)

Quantifiable outcome

• Record Q1 2026 revenues of $418.2 million, up 29% year-over-year
• +4 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• NBAflagshipStrategic or Co-development Partner · 25 March 2026PJT Partners was hired as strategic adviser by the NBA to evaluate prospective markets, ownership groups, arena infrastructure, and broader economic implications for potential expansion to Las Vegas and Seattle. Team values for new franchises expected in $7-10 billion range.

Scale indicators9 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Evercore: Evercore is a leading independent advisory firm providing strategic advisory, restructuring, and investment management services to corporations, financial sponsors, and institutional investors. It is one of PJT's closest direct competitors in the elite boutique advisory segment, competing head-to-head on M&A and restructuring mandates.
• Lazard: Lazard is a global financial advisory and asset management firm offering strategic advisory, restructuring, and capital markets advisory. It competes directly with PJT on M&A advisory and restructuring league tables, particularly in cross-border and large-cap transactions.
• Centerview Partners: Centerview Partners is a premier independent advisory firm specializing in M&A, restructuring, and shareholder advisory. It is one of the most prominent elite boutique competitors to PJT, regularly competing on the largest and most complex corporate transactions.
• Moelis & Company: Moelis is a global independent investment bank providing strategic advisory, restructuring, capital markets, and asset management services. It is a direct competitor to PJT across M&A advisory and restructuring mandates, particularly for mid-cap and growth-oriented transactions.
• Houlihan Lokey: Houlihan Lokey is a global investment bank focused on M&A, capital markets, financial restructuring, and valuation services. It is a leading competitor to PJT's restructuring franchise and competes across the mid-cap advisory segment.
• Perella Weinberg Partners: Perella Weinberg Partners is an independent global advisory firm providing M&A, strategic advisory, restructuring, and capital solutions. It is a peer in the elite boutique segment, with overlapping service offerings and similar client profiles to PJT.
• Rothschild & Co: Rothschild & Co is a global independent financial advisory group providing M&A, restructuring, and strategic advisory. It is a direct peer to PJT, having even co-advised alongside PJT on transactions such as Shell's offshore wind farm sale.
• Greenhill & Co: Greenhill is an independent investment bank focused on M&A advisory and financing. It is a smaller but direct competitor to PJT in the independent advisory segment, primarily serving corporations and financial sponsors.

Broad incumbents

• Allen & Company: Allen & Company is a private boutique investment bank focused on M&A and strategic advisory, primarily in media, technology, and sports. It is an established competitor in the elite boutique space, particularly for high-profile media and entertainment transactions like NBA-related deals.
• Goldman Sachs: Goldman Sachs is a bulge-bracket investment bank offering full-service advisory, capital markets, trading, and asset management. It is a broad incumbent that competes with PJT on M&A advisory mandates and has co-advised with PJT on transactions like Comcast's Versant Media Group spin-off.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/pjt-partners
• Xx.com/PJTPartners

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries11 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PJT Partners