PJT Partners Inc. (NYSE: PJT) is a financial advisory firm that provides strategic advisory, restructuring and reorganization advisory, and fund placement services. Revenue is transactional, generated through advisory fees paid by clients upon completion or progression of mergers, restructurings, and capital-raising assignments. PJT was formed when the financial and strategic advisory services, restructuring and reorganization advisory services, and Park Hill Group businesses of Blackstone Inc. were combined with PJT Capital LP, a firm founded by Paul J. Taubman in 2013, and the combined business was spun off as a stand-alone publicly traded company. The firm operates as an independent advisory business with no balance-sheet lending or underwriting, distinguishing it from bulge-bracket banks. The 10-K was filed February 26, 2026, covering the fiscal year ended December 31, 2025.

Revenue model

Transactional advisory fees from strategic advisory, restructuring and reorganization advisory, and Park Hill Group fund placement services. No balance-sheet or underwriting revenue disclosed in the excerpts.

Products and services

Strategic advisory services, restructuring and reorganization advisory services, Park Hill Group fund placement and secondary advisory services.

Customers and end markets

The filing excerpts do not specify customer types, end markets, or customer concentration data.

Value-chain role

Independent financial advisor. No principal investing, lending, or underwriting. Acts as agent on transactions for clients.

Geographic exposure

The filing excerpts do not provide geographic revenue breakdowns.

Source: SEC 10-K, filed 2026-02-26

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