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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240917618020/en/
Media Relations: Jon Keehner Joele Frank, Wilkinson Brimmer
Katcher Tel: +1 212.355.4449 PJT-JF@joelefrank.com
Investor Relations: Sharon Pearson PJT Partners Inc. Tel: +1
212.364.7120 pearson@pjtpartners.com
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