PJT Partners is a global advisory-focused investment bank that advises consequential companies and financial sponsors on transformative transactions, restructurings, and capital raises. The firm operates three core businesses: Strategic Advisory, which counsels on mergers and acquisitions, activism defense, divestitures, capital markets advisory, and geopolitical matters; Restructuring and Special Situations, which advises on liability management, distressed M&A, and Chapter 11 proceedings; and PJT Park Hill, an alternative asset advisory and fundraising business serving private fund managers across private equity, hedge funds, real estate, and direct investments. The firm generates revenue through advisory fees based on client engagement scope and outcomes rather than formulaic billing models, serving corporate clients, financial sponsors, creditors, fund managers, and boards.