Paul B.s. on M&A outlook
From PJT CEO Paul Taubman Ramps Up Hiring With 'Big Uptick' Coming in M&A · · Bloomberg Television
“I think we're on the on the verge of a really big uptick in M&A. We came into 2024 thinking that the marketplace was way too optimistic about 24, that there were a number of planks that needed to be built. I think almost every one of those has been built. We've gotten through elections around the globe. We've seen rates crash start to come down. We've seen a change in administration which will create a more favorable regulatory review and competition approach. Private equity has gotten there. Their balance of investment and monetization is better in line. Corporates are still active. So we look at 2025 and we just can't wait for it to get going. My prediction is other than 2021, which was an aberrational year, this could easily be the best M&A year we've had in say, ten years.”
On , Paul B.s., Founder, Chairman & Chief Executive Officer at PJT PARTNERS INC, spoke about M&A outlook during PJT CEO Paul Taubman Ramps Up Hiring With 'Big Uptick' Coming in M&A on Bloomberg Television.
About Paul B.s.
Paul Taubman, chairman and CEO of PJT Partners, has described the M&A environment as being in a "stuck" state, attributing the slowdown to the end of easy money conditions and a pullback by private equity firms. He stated in September 2024 that until interest rate cuts occur, it will be difficult to get the M&A marketplace moving, and he characterized the period as an "M&A recession" that will take a long time to recover from. Taubman also noted that private equity firms are "exquisite at controlling exit timings" and have long runways, which he said will contribute to a "very, very slow build back up" in deal activity. Despite the challenging near-term environment, Taubman has emphasized that PJT Partners is pursuing "quite significant" hiring, describing the slowdown as a conducive environment to recruit top talent due to lower switching costs for bankers. He reported that the firm has tripled its headcount and revenues over eight years, and stated that PJT Partners sees "tremendous opportunity to grow" as it remains a fraction of the size of larger competitors. In the third quarter of 2025, Taubman reported record results for the firm in terms of revenue, adjusted pre-tax income, and adjusted EPS.