What We’ve Done
Proven expertise. Powerful results. Our North Star remains reimagining the craft and culture of strategic advice for this new era.
Around PJT
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Samples of Complex Solutions
Our clients face complex strategic challenges. Our culture of collaboration allows us to provide holistic solutions seamlessly across disciplines.
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Comprehensive capital markets advisory, ESG and shareholder relations strategy
Independent financial advisor to management and the board on all capital markets executions, including debt & equity raises, convertible notes transactions and covenant amendments/waivers
Developed broad strategies to preserve liquidity, optimize capital structure, address material ESG considerations and enhance engagement with stakeholders
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Durable investor support resulting in successful activism defense, and a comprehensive capital markets strategy including a divestiture and sale of subsidiary businesses
Multi-year partnership with management that enabled the company to successfully navigate complex business transformation including spin and sale of subsidiaries, undertaking significant strategic actions to reposition the business and constructively settle with the activist
Prepared the subsidiary for public listing with comprehensive end-to-end advice on strategic and capital allocation decisions for long-term value creation
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Business combination resulting in a public listing, concurrent PIPE offering and subsequent comprehensive recapitalization
Advised a merger transaction resulting in a public listing and acted as a placement agent on the concurrent PIPE offering
Led negotiations with an ad hoc group of public bondholders, controlling stakeholder and a third-party investor to optimize terms of a comprehensive recapitalization transaction, strengthening the company’s balance sheet and positioning it for long-term growth while serving as the exclusive dealer manager across all aspects of the transaction
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Multi-year board, governance and shareholder engagement strategy to rebuild and sustain investor support in response to reputational challenges, executive pay concerns and numerous ESG shareholder proposals
Advised on board succession planning and evolution, including a pivotal board leadership transition, as part of a broader set of actions taken to address reputational challenges and investor concerns
Developed a response strategy to address proxy advisor scrutiny and a low Say on Pay vote, including building and maturing a board-led investor engagement program over multiple years to rebuild investor trust
Counseled the company in its defense against and response to environmental and social shareholder proposals, proactively navigating dynamics with shareholder proponents and anticipating areas of investor focus
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Strategic and investor relations advisory, activism and defense planning, and refined shareholder engagement strategy
Partnered with management to develop and articulate a compelling financial framework, successfully reshaped long-term guidance and guidance practices, and refined the capital allocation framework at a highly-anticipated investor day, which resulted in 1,200+ bps and 500+ bps outperformance vs. the S&P 500 over the following 3- and 6-month periods
Implemented proactive, holistic strategy that effectively de-escalated the activist shareholder with overwhelming support from key active investors, and stewardship teams during a pivotal time of transformation for the company
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Debt facility negotiations, capital raise, successful closing of a cross-border single-asset fund continuation vehicle and subsequent business combination
Sole financial adviser negotiating an A&E on existing debt facilities and subsequent capital raise for a financial sponsor’s portfolio company
Successfully closed a large single-asset fund continuation vehicle of the portfolio company, capitalized by a diverse group of institutional investors as well as re-investing LPs across Europe and the US
Advised on the combination of the client’s asset with a peer in the same sector, materially expanding its business and global footprint
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Activism and defense planning, improved corporate governance practices and durable shareholder support, unlocked value creation opportunities
Delivered critical investor insights, coordinated with management on strategic and capital allocation actions, and crafted a highly compelling equity story and investor day narrative (1,600+ bps of TSR outperformance vs. NASDAQ on investor day; 3,000+ bps improvement since PJT’s involvement)
Worked closely with management and the board to navigate engagement with an activist shareholder, including proactive changes to governance practices and deploying a broad shareholder engagement program; deescalated Activist’s approach who never went public with thesis or nominations
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Holistic shareholder matters including value creation opportunities, activism and defense planning and corporate governance strategy
Provided investor insights, led detailed study of market debates, optimized communication of all aspects of strategy including significant acquisitions, and assisted with successful investor events, driving ~500 bps of TSR outperformance vs. the S&P 600 on investor day; 9,600+ bps outperformance since PJT’s involvement
Closely partnered with management and the board to navigate engagement with an activist shareholder, enhanced governance practices and implemented a broad shareholder engagement program; deescalated the activist’s approach and maintained a constructive relationship