Sign in

    Alex Bond • Keefe, Bruyette & Woods (KBW)

    Alex Bond's questions to Perella Weinberg Partners (PWP) leadership

    Alex Bond's questions to Perella Weinberg Partners (PWP) leadership • Q2 2025

    Question

    Alex Bond of Keefe, Bruyette & Woods asked for an update on the large-cap deal outlook and whether activity has returned to pre-April levels. He also inquired about the restructuring outlook and how activity levels in that space have evolved since the previous quarter.

    Answer

    CEO Andrew Bednar stated that the outlook for large-scale transactions has improved, with recent market announcements acting as a 'green light' for other companies, as transactions tend to beget more transactions. Regarding restructuring, which is part of the broader Financing and Capital Solutions business, Bednar reported that the combined business is trending toward a record year and was uninterrupted by the slowdown in April and May. He believes the base of this business is now higher with less volatility than in historical cycles.

    Ask Fintool Equity Research AI

    Alex Bond's questions to Evercore Inc (EVR) leadership

    Alex Bond's questions to Evercore Inc (EVR) leadership • Q2 2025

    Question

    Alex Bond from Keefe, Bruyette & Woods (KBW) asked for an outlook on the Private Capital Advisory (PCA) business, specifically regarding industry secondary volumes for the second half of the year and the evolving competitive landscape.

    Answer

    Chairman and CEO John Weinberg acknowledged that competition in the PCA space is expected to increase, but expressed confidence in Evercore's strong positioning due to its experienced team and track record. He noted that activity levels remain very strong across both GP and LP-led secondaries and, while the growth rate may not match the first half's pace, he does not foresee a slowdown.

    Ask Fintool Equity Research AI

    Alex Bond's questions to Houlihan Lokey Inc (HLI) leadership

    Alex Bond's questions to Houlihan Lokey Inc (HLI) leadership • Q1 2026

    Question

    Alex Bond of Keefe, Bruyette & Woods (KBW) inquired about the financial sponsor market, asking if sponsor-led activity is expected to increase post-Labor Day. He also requested more detail on the differing M&A recovery trends between the U.S. and EMEA.

    Answer

    CEO Scott Adelson confirmed that sponsor activity has been muted but is expected to pick up, consistent with the broader market trend. He explained the lag in EMEA's recovery as a normal cyclical difference, noting EMEA was slower to turn down and is now slower to recover. CFO J. Lindsey Alley added that sponsors often use Labor Day as a natural inflection point to go to market.

    Ask Fintool Equity Research AI

    Alex Bond's questions to PJT Partners Inc (PJT) leadership

    Alex Bond's questions to PJT Partners Inc (PJT) leadership • Q2 2025

    Question

    Alex Bond of Keefe, Bruyette & Woods (KBW) asked about the PJT Park Hill business, inquiring if the recent improvement in the macro backdrop has positively impacted the challenging fundraising environment. He also sought clarity on whether the expected second-half improvement would be weighted more towards private capital solutions versus primary fundraising.

    Answer

    Paul Taubman, Founder, Chairman & CEO, explained that the expected second-half strength in Park Hill is due to the timing and lumpiness of closings for fundraisers already in flight, affecting both primary and private capital solutions. He noted that while the primary fundraising market remains challenging due to a supply-demand imbalance, this environment drives a flight to quality that benefits PJT. He also affirmed that the secondary (private capital solutions) business is structurally in a better place with a better match of supply and demand.

    Ask Fintool Equity Research AI

    Alex Bond's questions to Moelis & Co (MC) leadership

    Alex Bond's questions to Moelis & Co (MC) leadership • Q2 2025

    Question

    Alex Bond asked about other areas of hiring focus for the firm beyond the private capital advisory (PCA) team. He also requested the revenue breakout between M&A and non-M&A activities for the quarter.

    Answer

    Co-President Navid Mahmoodzadegan stated that while not being specific, the firm has active dialogues with potential candidates in other sectors, focusing on large opportunities and areas where they can build out franchises. CEO Kenneth Moelis confirmed that the revenue split was 'pretty dead on' with the previous quarter's two-thirds M&A and one-third non-M&A mix.

    Ask Fintool Equity Research AI

    Alex Bond's questions to Lazard Inc (LAZ) leadership

    Alex Bond's questions to Lazard Inc (LAZ) leadership • Q2 2025

    Question

    Alex Bond from Keefe, Bruyette & Woods (KBW) asked for color on the M&A sentiment in Europe compared to the U.S. and inquired about the outlook for the senior banker hiring pipeline for the remainder of the year.

    Answer

    Peter Orszag, CEO & Chairman, noted that Europe was a disproportionate driver of activity in the first half of the year, but he anticipates a pickup in U.S. activity in the second half. He highlighted significant hiring and expansion in Europe. On the hiring pipeline, Orszag expressed strong satisfaction with lateral recruiting efforts, attributing the success to Lazard's brand, culture, clear strategy, and global footprint, which attract high-quality talent.

    Ask Fintool Equity Research AI