Perella Weinberg Partners

pwpartners.com

What Do They Do?

Advises companies, investors and public institutions on strategic and financial decisions, mergers and acquisitions, and financing and capital solutions.

How Do They Make Money?

Clients pay for ongoing strategic and transaction advice, with many fees tied to completing a deal or reaching a milestone; retainers are paid periodically during an engagement. Fairness opinions are paid for when delivered, research through direct payments or shared commissions, and underwriting when an offering is priced.

FY2025 revenue

Who Are Their Customers?

Serves companies and financial sponsors, investors and creditor committees, and government institutions through separately negotiated advisory engagements.

Do Revenues Turn Into Profits?

Yes. It kept 5 cents of every revenue dollar as net income in FY2025 and turned 4 cents into free cash flow.

Operating income, FY2025

6% of revenue

▲ Now profitable vs FY2024 (−$78.5M, −9%)

Net income, FY2025

5% of revenue

▲ Now profitable vs FY2024 (−$64.7M, −7%)

Free cash flow, FY2025

4% of revenue

▼ −85% vs FY2024 ($207M, 24%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +1%; vs $155.3M in Q2 FY2025
Net income: ▲ +94%; vs $2.7M in Q2 FY2025

Jul 31, 2026 PWP expects to acquire Gleacher Shacklock The CEO said the firm expects to close the acquisition in the third quarter.

Flat. Revenue was $750.9M in FY2025, about the same as the $801.7M of FY2021.

Advisory services The latest report includes private funds advisory and describes shareholder work as engagement advisory; the earlier report described shareholder and defense advisory.

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