LAZ - PJT Partners: Park Hill Better Restructuring Boom Materializing
2024-05-16 11:34:04 ET
Summary
- PJT Partners Inc.'s Q1 earnings showed strong performance in their advisory business, particularly in the restructuring segment.
- The lack of redemptions and fundraising opportunities benefited Park Hill, PJT's placement agent, as portfolio monetization cannot be relied upon in the current environment.
- The maturity wall thesis supports PJT's advisory business, and Park Hill should proceed positively.
- But the story is at this point clearly known, and we'd think about eyeing the next idea to go from strength to strength.
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PJT Partners: Park Hill Better, Restructuring Boom Materializing