Scott Adelson on market environment
From Episode 482: Houlihan Lokey CEO Scott Adelson on Markets, M&A and Building a Global Powerhouse · · New York Stock Exchange
“Long before we went public, we were really built for virtually any market environment. Over the course of a decade, you see many different market environments, but as long as capital is moving in one direction or another, we've been fortunate to see success in our restructuring business, M&A, and capital solutions business.”
On , Scott Adelson, Chief Executive Officer & Director at HOULIHAN LOKEY INC, spoke about market environment during Episode 482: Houlihan Lokey CEO Scott Adelson on Markets, M&A and Building a Global Powerhouse on New York Stock Exchange.
About Scott Adelson
Scott Adelson, CEO of Houlihan Lokey, discussed the firm's performance and strategy in an August 2025 podcast. He described the M&A landscape as having rebounded in 2025, driven by stable interest rates and improved market conditions, while noting an "elevated restructuring environment." Adelson stated that the firm's 2015 NYSE listing was "the single best branding exercise we've ever had," particularly outside the U.S. He characterized his transition to CEO as "more about changing seats at a table than anything else," adding that the leadership team has been running the company for a long time and that the firm's direction remains consistent. Adelson emphasized Houlihan Lokey's midcap focus and its data sets from being a leading transaction, restructuring, and valuation firm, which he said will enable better decisions in an AI-driven world. In a 2017 interview, Adelson identified retail as the most stressed sector for restructuring, comparing its potential opportunity to the earlier energy downturn. He noted that while retail is not as large as energy—which represented about 20% of the high-yield debt market—there would still be companies that do not survive. Adelson also pointed to stress in healthcare and technology sectors in certain regions.