Transaction Strengthens PJT’s Presence in the Middle East
NEW YORK--(BUSINESS WIRE)--Sep. 18, 2024--
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.
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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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Media Relations:
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Joele Frank, Wilkinson Brimmer Katcher
Tel: +1 212.355.4449
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Investor Relations:
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PJT Partners Inc.
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pearson@pjtpartners.com
Source: PJT Partners Inc.
