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PJT Partners (PJT) investor relations material

PJT Partners Goldman Sachs U.S. Financial Services Conference summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Goldman Sachs U.S. Financial Services Conference summary9 Dec, 2025

Strategic goals and growth outlook

  • Emphasized the importance of patience and building a strong foundation in the first decade, focusing on culture and talent selection.

  • Plans to accelerate growth in the next decade by leveraging established networks and foundational investments.

  • Major opportunities identified in healthcare, technology, and industrials, with plans to increase investment in these high-potential verticals.

  • Anticipates compounding returns as brand recognition and completed networks drive more client engagement.

  • Hiring is expected to continue at a strong pace, capitalizing on the firm's growth and completed build-out.

Market environment and deal activity

  • Current administration's pragmatic approach to deal approvals has increased confidence in large consolidating transactions.

  • M&A resurgence in 2025 led by strategic buyers, with expectations for even higher activity in 2026.

  • Private equity activity is recovering, with more capital expected to be deployed as the gap between invested and returned capital narrows.

  • Larger deals are driving M&A volumes, while mid-cap and smaller deals lag due to capital access and fewer attractive opportunities.

  • Overall M&A volumes are returning to average levels after years of suppression from COVID and regulatory headwinds.

Financing conditions and AI impact

  • AI data center debt is not seen as a credit risk due to strong obligor quality, but equity valuation risks remain if market paradigms shift.

  • AI-driven disruption could increase default rates in vulnerable industries, though most lending is well-collateralized.

  • Productivity gains from AI are expected to benefit clients and allow the firm to do more with the same resources.

What M&A deals are viable under current policy?
PJT's investment focus for accelerated growth?
AI's impact on credit risk in vulnerable industries?
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Frequently asked questions

PJT Partners Inc is an investment bank providing strategic advisory, restructuring, and capital raising services. The company advises corporations, financial sponsors, and governments on mergers and acquisitions, spin-offs, capital structure, and liability management. It operates globally with a focus on complex transactions and independent advisory. The company is headquartered in New York, New York, and its shares are listed on the NYSE.

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