PJT Partners Enters into Agreement to Acquire deNovo Partners

$PJT
Investment Managers
Finance
Get the next $PJT alert in real time by email

Transaction Strengthens PJT's Presence in the Middle East

PJT Partners Inc. (the "Company" or "PJT Partners") (NYSE:PJT) announced today that it has entered into an agreement to acquire deNovo Partners ("deNovo"), a leading advisory firm focused on the Middle East and headquartered in Dubai. This acquisition builds upon the highly successful strategic alliance PJT Partners and deNovo entered into in 2020.

Founded in 2010 by May Nasrallah, deNovo's team of more than 20 professionals provides financial advisory services to clients in the Middle East. Since inception, deNovo has advised on more than 100 transactions, including the region's two largest private sector M&A transactions this year. deNovo has a broad range of clients around the globe including corporates, government-related entities, and investors.

"We are pleased to welcome the deNovo team to PJT Partners as we continue to expand our global footprint. We look forward to building upon our strong partnership to better serve clients in the Middle East as well as international clients with business interests in the region," said Paul J. Taubman, Chairman and Chief Executive Officer of PJT Partners.

"We are excited to join PJT Partners, a firm that shares our commitment to delivering the highest quality advice. We look forward to joining forces with this leading advisory firm," said May Nasrallah, Founder and Executive Chairwoman of deNovo. "I have worked closely with the PJT leadership team for decades and have a deep admiration for the world-class platform they have established in such a short period of time. Together, we will build upon this strong foundation by enhancing our capabilities and better serving clients globally."

May Nasrallah will continue her existing leadership role in the Middle East, including covering the firm's important clients in the region, while also becoming a key part of PJT Partners' senior team as the firm expands internationally. The transaction is subject to regulatory approvals and other customary conditions and is expected to close in October 2024.

About PJT Partners

PJT Partners is a premier, global, advisory-focused investment bank that was built from the ground up to be different. Our highly experienced, collaborative teams provide independent advice coupled with old-world, high-touch client service. This ethos has allowed us to attract some of the very best talent in the markets in which we operate. We deliver leading advice to many of the world's most consequential companies, effect some of the most transformative transactions and restructurings and raise billions of dollars of capital around the globe to support startups and more established companies. To learn more about PJT Partners, please visit our website at www.pjtpartners.com.

About deNovo Partners

Established in 2010 by a team of highly experienced Investment Banking professionals led by May Nasrallah, deNovo is one of the Middle East's preeminent corporate finance advisory firms. The firm provides a broad range of financial advisory services including mergers and acquisitions, capital markets, and corporate finance. With a proven track record of successful transactions, deNovo established itself as a world-class trusted conflict-free advisor on highly complicated, sensitive transactions. With clients spanning regional and international corporations, family businesses, government related entities, and sovereign wealth funds, deNovo has become one of the largest and most established home-grown advisory firms in the region. To learn more about deNovo, please visit deNovo's website at www.denovopartners.com.

Forward-Looking Statements

Certain material presented herein contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements include certain information concerning future results of operations, business strategies, acquisitions, financing plans, competitive position, potential growth opportunities, potential operating performance improvements, the effects of competition and the effects of future legislation or regulations. Forward-looking statements include all statements that are not historical facts and can be identified by the use of forward-looking terminology such as the words "believe," "expect," "opportunity," "plan," "intend," "anticipate," "estimate," "predict," "potential," "continue," "may," "might," "should," "could" or the negative of these terms or similar expressions.

Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict, many of which are outside our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not place undue reliance upon any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (a) changes in governmental regulations and policies; (b) cyber attacks, security vulnerabilities and internet disruptions, including breaches of data security and privacy leaks, data loss and business interruptions; (c) failures of our computer systems or communication systems, including as a result of a catastrophic event and the use of remote work environments and virtual platforms; (d) the impact of catastrophic events, including business disruptions, pandemics, reductions in employment and an increase in business failures on (1) the U.S. and the global economy and (2) our employees and our ability to provide services to our clients and respond to their needs; (e) the failure of third-party service providers to perform their functions; and (f) volatility in the political and economic environment, including as a result of inflation, elevated interest rates and geopolitical and military conflicts.

Any of these factors, as well as such other factors discussed in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2023, filed with the United States Securities and Exchange Commission ("SEC"), as such factors may be updated from time to time in the Company's periodic filings with the SEC, accessible on the SEC's website at www.sec.gov, could cause the Company's results to differ materially from those expressed in forward-looking statements. There may be other risks and uncertainties that the Company is unable to predict at this time or that are not currently expected to have a material adverse effect on its business. Any such risks could cause the Company's results to differ materially from those expressed in forward-looking statements.

Get the next $PJT alert in real time by email

Chat with this insight

Save time and jump to the most important pieces.

Recent Analyst Ratings for
$PJT

DatePrice TargetRatingAnalyst
1/13/2025Mkt Outperform → Mkt Perform
JMP Securities
12/6/2024$130.00 → $175.00Sell → Neutral
UBS
3/26/2024$100.00 → $75.00Neutral → Sell
UBS
1/29/2024$101.00Mkt Perform
Keefe Bruyette
1/9/2024Buy → Neutral
Goldman
1/3/2024$89.00Peer Perform → Underperform
Wolfe Research
12/5/2023Buy → Neutral
Seaport Research Partners
10/3/2023$84.00Neutral
UBS
More analyst ratings

$PJT
Press Releases

Fastest customizable press release news feed in the world

See more
  • PJT Partners Inc. Reports Full Year and Fourth Quarter 2024 Results

    Full Year Overview Record Revenues, Pretax Income and EPS Revenues of $1.49 billion, an increase of 29% from a year ago GAAP Pretax Income of $271 million and Adjusted Pretax Income of $278 million, both increased 52% from a year ago GAAP Diluted EPS of $4.92 and Adjusted EPS of $5.02, increases of 58% and 54%, respectively, from a year ago Fourth Quarter Overview Record Quarter Revenues of $477 million, an increase of 45% from a year ago GAAP Pretax Income of $103 million and Adjusted Pretax Income of $107 million, increases of 99% and 102%, respectively, from a year ago GAAP Diluted EPS of $1.83 and Adjusted EPS of $1.90, increases of 110% and 98%, respectively,

    $PJT
    Investment Managers
    Finance
  • PJT Partners Inc. to Report Full Year and Fourth Quarter 2024 Financial Results and Host a Conference Call on February 4, 2025

    PJT Partners Inc. ("PJT Partners") (NYSE:PJT) announced that it expects to release its full year and fourth quarter 2024 financial results on Tuesday morning, February 4, 2025. The earnings release will be available through the Investor Relations section of the PJT Partners website at www.pjtpartners.com. PJT Partners will host a conference call on Tuesday, February 4, 2025 at 8:30 a.m. ET with access available via webcast and telephone. Paul J. Taubman, Chairman and Chief Executive Officer, and Helen T. Meates, Chief Financial Officer, will review the results and be available for questions. Investors and analysts may participate in the live conference call by dialing +1 (800) 245-3047

    $PJT
    Investment Managers
    Finance
  • PJT Partners Inc. to Present at the Goldman Sachs 2024 Financial Services Conference on December 11

    PJT Partners Inc. ("PJT Partners") (NYSE:PJT) announced that its Chairman and Chief Executive Officer, Paul J. Taubman, is scheduled to present at the Goldman Sachs 2024 Financial Services Conference on Wednesday, December 11, 2024 at 10:40 a.m. ET. A live webcast of the presentation will be available through the Investor Relations section of PJT Partners' website at www.pjtpartners.com. A replay of the webcast will be available for three months following the event. About PJT Partners PJT Partners is a premier, global, advisory-focused investment bank that was built from the ground up to be different. Our highly experienced, collaborative teams provide independent advice coupled with

    $PJT
    Investment Managers
    Finance

$PJT
Analyst Ratings

Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

See more

$PJT
Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

See more

$PJT
SEC Filings

See more

$PJT
Leadership Updates

Live Leadership Updates

See more
  • PJT Partners Enters into Agreement to Acquire deNovo Partners

    Transaction Strengthens PJT's Presence in the Middle East PJT Partners Inc. (the "Company" or "PJT Partners") (NYSE:PJT) announced today that it has entered into an agreement to acquire deNovo Partners ("deNovo"), a leading advisory firm focused on the Middle East and headquartered in Dubai. This acquisition builds upon the highly successful strategic alliance PJT Partners and deNovo entered into in 2020. Founded in 2010 by May Nasrallah, deNovo's team of more than 20 professionals provides financial advisory services to clients in the Middle East. Since inception, deNovo has advised on more than 100 transactions, including the region's two largest private sector M&A transactions this yea

    $PJT
    Investment Managers
    Finance
  • Uber Technologies, Jabil and Builders FirstSource Set to Join S&P 500; Others to Join S&P MidCap 400 and S&P SmallCap 600

    NEW YORK, Dec. 1, 2023 /PRNewswire/ -- S&P Dow Jones Indices ("S&P DJI") will make the following changes to the S&P 500, S&P MidCap 400, and S&P SmallCap 600 indices effective prior to the open of trading on Monday, December 18, to coincide with the quarterly rebalance. The changes ensure each index is more representative of its market capitalization range. All companies being added to the S&P 500 are more representative of the large-cap market space, all companies being added to the S&P MidCap 400 are more representative of the mid-cap market space, and all companies being added to the S&P SmallCap 600 are more representative of the small-cap market space. The companies being removed from t

    $ALK
    $ALKS
    $AWI
    $BLDR
    Air Freight/Delivery Services
    Consumer Discretionary
    Biotechnology: Pharmaceutical Preparations
    Health Care
  • K. Don Cornwell to Join PJT Partners Board of Directors

    PJT Partners Inc. (the "Company" or "PJT Partners") (NYSE:PJT) today announced the appointment of K. Don Cornwell to its Board of Directors (the "Board"). He will assume his role on the Board in January 2023, and will continue as a Partner in PJT Partners' Strategic Advisory business until then. Mr. Cornwell joined PJT Partners in February 2015 as one of its earliest partners and played an integral role in building out the Company's Strategic Advisory business while also advising on some of the most significant gaming, sports and entertainment deals in the industry. Prior to joining PJT Partners, he had an 18-year career at Morgan Stanley in the Mergers and Acquisitions Group, where he led

    $PJT
    Investment Managers
    Finance

$PJT
Financials

Live finance-specific insights

See more
  • PJT Partners Inc. Reports Full Year and Fourth Quarter 2024 Results

    Full Year Overview Record Revenues, Pretax Income and EPS Revenues of $1.49 billion, an increase of 29% from a year ago GAAP Pretax Income of $271 million and Adjusted Pretax Income of $278 million, both increased 52% from a year ago GAAP Diluted EPS of $4.92 and Adjusted EPS of $5.02, increases of 58% and 54%, respectively, from a year ago Fourth Quarter Overview Record Quarter Revenues of $477 million, an increase of 45% from a year ago GAAP Pretax Income of $103 million and Adjusted Pretax Income of $107 million, increases of 99% and 102%, respectively, from a year ago GAAP Diluted EPS of $1.83 and Adjusted EPS of $1.90, increases of 110% and 98%, respectively,

    $PJT
    Investment Managers
    Finance
  • PJT Partners Inc. to Report Full Year and Fourth Quarter 2024 Financial Results and Host a Conference Call on February 4, 2025

    PJT Partners Inc. ("PJT Partners") (NYSE:PJT) announced that it expects to release its full year and fourth quarter 2024 financial results on Tuesday morning, February 4, 2025. The earnings release will be available through the Investor Relations section of the PJT Partners website at www.pjtpartners.com. PJT Partners will host a conference call on Tuesday, February 4, 2025 at 8:30 a.m. ET with access available via webcast and telephone. Paul J. Taubman, Chairman and Chief Executive Officer, and Helen T. Meates, Chief Financial Officer, will review the results and be available for questions. Investors and analysts may participate in the live conference call by dialing +1 (800) 245-3047

    $PJT
    Investment Managers
    Finance
  • PJT Partners Inc. Reports Third Quarter and Nine Months 2024 Results

    Third Quarter Overview Record Third Quarter Revenues of $326 million, an increase of 17% from a year ago GAAP Pretax Income of $49 million and Adjusted Pretax Income of $51 million, both increased 16% from a year ago GAAP Diluted EPS of $0.79 and Adjusted EPS of $0.93, increases of 16% and 19%, respectively, from a year ago Nine Months Overview Record year-to-date Revenues of $1.02 billion, an increase of 23% from a year ago GAAP Pretax Income of $168 million and Adjusted Pretax Income of $172 million, increases of 33% and 32%, respectively, from a year ago GAAP Diluted EPS of $3.08 and Adjusted EPS of $3.10, increases of 40% and 35%, respectively, from a year ago Capital Ma

    $PJT
    Investment Managers
    Finance

$PJT
Large Ownership Changes

This live feed shows all institutional transactions in real time.

See more