PJT Partners Business Summary

PJT Partners Inc. (PJT) is a premier global advisory-focused investment bank that generates revenue primarily through transaction-based advisory fees and placement fees. The firm operates through three core business segments: Strategic Advisory, which provides counsel on mergers and acquisitions, capital markets, and shareholder engagement; Restructuring and Special Situations, a market-leading practice for debt and liability management; and PJT Park Hill, which offers private fund advisory and fundraising services for alternative asset classes including private equity and real estate. As of February 2026, PJT reported record full-year 2025 revenues of $1.71 billion, a 15% year-over-year increase. The company competes directly with other independent elite boutiques such as Evercore (EVR), Lazard (LAZ), Moelis & Company (MC), and Houlihan Lokey (HLI), positioning itself as a high-touch, conflict-free alternative to bulge-bracket banks by leveraging a lean, partner-heavy model. The firm was founded by Chairman and CEO Paul J. Taubman, who established PJT Capital LP in 2013 before merging with Blackstone’s advisory businesses in 2015 to form the current entity. The leadership team is characterized by a deep Morgan Stanley pedigree; Taubman previously served as Co-President of Institutional Securities at Morgan Stanley, while CFO Helen T. Meates was the former Deputy Head of Global Capital Markets and Managing Partner Ji-Yeun Lee served as Deputy Head of Global Investment Banking at the same institution. CTO Chris Kovel also brings over 25 years of Morgan Stanley experience, specializing in artificial intelligence and data analytics. PJT’s board includes notable figures such as Lead Independent Director Dennis Hersch and former Netscape CFO Peter L.S. Currie, while its public ownership is anchored by major institutional investors including BlackRock and The Vanguard Group.