Houlihan Lokey is a global independent investment bank that advises corporations, financial sponsors, and government agencies on mergers and acquisitions, capital raising, financial restructuring, and valuation services. The firm operates through three business segments: Corporate Finance, which focuses on mid-market M&A transactions and capital solutions; Financial Restructuring, which advises distressed companies and creditors on out-of-court negotiations and bankruptcy proceedings; and Financial and Valuation Advisory, which provides valuation analyses and financial opinions for transactions and regulatory matters. The firm generates advisory fees from transaction-based engagements, restructuring work, and consulting services, with revenue driven by transaction volume, client relationships across major industries, and specialized sector expertise. As an independent specialist that avoids lending, securities trading, and investment research, Houlihan Lokey differentiates itself through senior-level involvement, analytical rigor, and deep industry knowledge, particularly in mid-cap transactions and cross-border restructurings.