What Newstate Partners does

Newstate Partners is an independent sovereign debt advisory firm founded in 2009 and headquartered in London. The firm provides specialist advice to sovereign governments, central banks, state-owned entities, and parties-at-interest on complex public finance matters including funding strategies, debt management, liability management, credit ratings and investor relations, sovereign wealth management, contingency planning, public sector debt restructuring, and crisis prevention and resolution — including the design and negotiation of economic stabilization plans and coordination of IMF arrangements.

The firm's core offering is a single professional services product line built on the expertise of its three named Senior Managing Directors (Spencer Jones and Alex Levintaner in London; Rafael M. Molina in Washington DC). Its technology stack is human advisory expertise rather than software; there is no proprietary platform or AI-enabled product. The firm cites a track record of advising 30+ governments worldwide and being retained on more than half of all sovereign external bond restructurings in modern times.

Newstate Partners operates a professional services revenue model, charging advisory fees for bespoke engagements. Pricing is not publicly disclosed. Distribution is direct and relationship-driven: senior managing directors serve as the key client contacts, supported by thought leadership content (podcasts, videos, insights publications) hosted on the parent Ankura platform. The firm is authorized and regulated by the UK Financial Conduct Authority via Ankura Sovereign Debt Advisors LLP.

Name

Newstate Partners

Legal name

Ankura Consulting Group, LLC

Website

https://newstatepartners.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

11–50 employees

Short description

Newstate Partners (now Ankura Sovereign Advisors) is a London-based sovereign debt advisory firm that provides specialist advice on debt management, restructuring, and crisis resolution to governments, central banks, and state-owned entities worldwide.

Ownership category

akta.pro rank

Product category

Sovereign Debt Advisory

NAICS

Portfolio Management and Investment Advice (523940), Investment Banking and Securities Intermediation (523150)

SIC

Services-Management Consulting Services (8742), Investment Advice (6282)

akta.pro primary industry

Debt Relief, Restructuring & Sovereign Advisory Programs (BPADACAL)

akta.pro secondary industries

Debt & Capital Advisory (Debt Raising, Refinancing, Private Credit) (BPAHAOAD), Corporate Finance & Capital Advisory (BPAHADAB)

Keywords

• Sovereign debt advisory
• Public debt management
• Debt restructuring advisory
• Financial advisory services
• Credit ratings advisory

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Advisory Services Revenue: Revenue generated from providing sovereign debt advisory services to governments, central banks, and public-sector institutions. Services include funding strategies, debt restructuring, crisis prevention and resolution, credit ratings support, and investor relations advisory.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Newstate Partners, now operating as Ankura Sovereign Advisors, provides specialist sovereign debt advisory services to sovereign governments, central banks, state-owned entities, and parties-at-interest in sovereign restructurings. The offering spans funding strategies, public debt management, credit ratings and investor relations, liability management, contingency planning, sovereign wealth management, public sector debt restructuring, and crisis prevention and resolution including design and negotiation of economic stabilization plans and coordination of IMF arrangements. Services are delivered by Senior Managing Directors under FCA-regulated entity Ankura Sovereign Debt Advisors LLP.

Product overview

Ankura Sovereign Advisors, formerly Newstate Partners, is a single service offering — a specialized sovereign debt advisory practice. It provides governments and public-sector institutions with high-level strategic advice and technical capabilities for navigating complex financial challenges. The offering spans funding strategies, credit ratings, investor relations, liability management, contingency planning, sovereign wealth management, public sector debt restructuring, and crisis prevention and resolution including IMF arrangement negotiations.

Differentiator

Problem solved

Functional benefit

Products and services

• Ankura Sovereign Advisors (Sovereign Debt Advisory)

Quantifiable outcome

• Guided more than 30 governments worldwide on critical issues related to debt management
• +1 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Lazard: Global investment bank with one of the most active sovereign debt restructuring and creditor advisory practices; competes for sovereign mandates alongside Newstate Partners' practice.
• Moelis & Company: Global independent advisory firm active in sovereign debt restructuring and restructuring advisory, offering overlap with Newstate's public finance and capital structure work.
• Rothschild & Co: Long-standing advisor to sovereigns on debt restructuring and global advisory, with deep institutional relationships comparable to Newstate's sovereign practice.
• PJT Partners: Independent advisory firm with a restructuring and special situations practice that competes for sovereign and creditor-side mandates in distressed debt situations.
• Evercore: Independent investment bank with sovereign and capital structure advisory capabilities, competing for mandates on debt restructuring and financing strategy.
• Houlihan Lokey: Independent advisory firm with a leading financial restructuring practice serving sovereigns, public-sector clients, and creditor committees in distressed debt situations.

Direct peers

• FTI Consulting: Global consulting firm whose Strategic Communications and Corporate Finance/Restructuring segments provide sovereign and public-sector advisory services that overlap directly with Newstate's mandate set.
• Alvarez & Marsal: Restructuring advisory firm serving sovereigns, public-sector entities, and creditor committees on financial restructuring and stabilization—directly comparable in service mix to Newstate's sovereign advisory.

Others

• White & Case: Global law firm prominent in sovereign debt restructuring and emerging markets finance, frequently acting as legal advisor in the same restructurings where Newstate serves as financial advisor.
• Cleary Gottlieb Steen & Hamilton: Law firm serving as legal advisor to sovereigns and creditor committees in most major sovereign debt restructurings; often counterparties or co-advisors alongside Newstate Partners.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/ankura_consult
• YouTubeyoutube.com/channel/UCmJVU-gP5mafJxsmFusDbzA/videos
• LinkedInlinkedin.com/company/ankura-consulting-group

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Newstate Partners