PJT Partners

PJT Partners Inc. Reports Record First Quarter 2024 Results

Retrieved on: 
Thursday, May 2, 2024
Banking, Other Professional Services, Professional Services, Finance, Internet, Investment, Travel, Compensation, Partnership, Financial statement, PJT Partners, Consolidated, Adjustment, GAAP, Security (finance)

GAAP Non-Compensation Expense was $47 million for the current quarter compared with $38 million in the prior year.

Key Points: 
  • GAAP Non-Compensation Expense was $47 million for the current quarter compared with $38 million in the prior year.
  • As of March 31, 2024, PJT Partners Inc. owned 61.3% of PJT Partners Holdings LP.
  • The dividend will be paid on June 20, 2024 to Class A common stockholders of record as of June 5, 2024.
  • PJT Partners will host a conference call on May 2, 2024 at 8:30 a.m.

Blackstone Real Estate Completes Privatization of Tricon

Retrieved on: 
Wednesday, May 1, 2024
Professional Services, Other Construction & Property, Residential Building & Real Estate, Finance, Construction & Property, REIT, Indian stock exchange, LLP, J.P. Morgan & Co., TCN, Wells Fargo, News, Capital market, RBC Capital Markets, Schedule, TSX, Partnership, TD Securities, Toronto Stock Exchange, Simpson Thacher & Bartlett, Transaction, PJT Partners, BofA Securities, Scotiabank, BX, Goodmans, Committee, Letter

Blackstone (NYSE: BX) and Tricon Residential Inc. (NYSE: TCN, TSX: TCN) (“Tricon” or the “Company”) today announced the closing of the previously-announced statutory plan of arrangement under the Business Corporations Act (Ontario) pursuant to which Blackstone Real Estate Partners X (“BREP X”), together with Blackstone Real Estate Income Trust, Inc. (“BREIT”), acquired all of the outstanding common shares of Tricon (“Common Shares”) for $11.25 per Common Share in cash (the “Transaction”) for a total equity transaction value of $3.5 billion.

Key Points: 
  • Blackstone (NYSE: BX) and Tricon Residential Inc. (NYSE: TCN, TSX: TCN) (“Tricon” or the “Company”) today announced the closing of the previously-announced statutory plan of arrangement under the Business Corporations Act (Ontario) pursuant to which Blackstone Real Estate Partners X (“BREP X”), together with Blackstone Real Estate Income Trust, Inc. (“BREIT”), acquired all of the outstanding common shares of Tricon (“Common Shares”) for $11.25 per Common Share in cash (the “Transaction”) for a total equity transaction value of $3.5 billion.
  • "This transaction marks an exciting new chapter in Tricon’s history, one poised to deliver exceptional outcomes for our residents," said Gary Berman, President & CEO of Tricon.
  • Please see the Circular for a discussion of certain Canadian and U.S. federal income tax considerations relating to the Transaction.
  • Morgan Stanley & Co. LLC and RBC Capital Markets acted as financial advisors to Tricon.

Lineage Announces Changes to Board of Directors

Retrieved on: 
Monday, April 29, 2024
Biotechnology, Health, Stem Cells, Mallinckrodt, Sale, University, General counsel, Economics, Compensated emancipation, Audit committee, PJT Partners, Bachelor of Arts, Therapy, Senior advisor, Asterias, Management

Mr. Kingsley served as Chairman of the Company’s Board of Directors since July 2009, and was a significant contributor in the evolution of the Company into a clinical-stage biotechnology company developing allogeneic cell therapies for unmet medical needs.

Key Points: 
  • Mr. Kingsley served as Chairman of the Company’s Board of Directors since July 2009, and was a significant contributor in the evolution of the Company into a clinical-stage biotechnology company developing allogeneic cell therapies for unmet medical needs.
  • Effective as of April 27, 2024, Michael H. Mulroy, J.D., has been appointed by the Board of Directors to serve as the Chairman of the Board of Directors.
  • “Al was exceptionally committed to Lineage and its shareholders, and brought great innovation, leadership, and dedication to others to his work.
  • He previously served as Chief Executive Officer and a member of the board of directors of Asterias Biotherapeutics, Inc.

SES to Acquire Intelsat in Compelling Transaction Focused on the Future

Retrieved on: 
Tuesday, April 30, 2024
Networks, Satellite, Audio, Video, Technology, Telecommunications, Slate, GEO, OPEX, Ecosystem, International, O3b, Gibson Dunn, Policy, FCF, MEO, Morgan Stanley, Sport, Guggenheim Partners, Debt, Communication, Ultra, Deutsche Bank, NPV, Metric, Growth, Webcast, Habit, Combine, Intelsat, Cropping system, International Financial Reporting Standards, Government, Acquisition, PJT Partners, Aircraft, Adjustment, Orientation, FX, Capital expenditure, Atmosphere, GAAP, Enterprise value, Network

SES S.A. (“SES”) and Intelsat S.A. (“Intelsat”) announce an agreement for SES to acquire Intelsat through the purchase of 100% of the equity of Intelsat Holdings S.a.r.l.

Key Points: 
  • SES S.A. (“SES”) and Intelsat S.A. (“Intelsat”) announce an agreement for SES to acquire Intelsat through the purchase of 100% of the equity of Intelsat Holdings S.a.r.l.
  • PJT Partners served as financial advisor to Intelsat and rendered a fairness opinion to the Intelsat S.A. Board of Directors.
  • The financial information presented for SES and Intelsat does not apply a consistent set of accounting policies.
  • Pro forma financial information are aggregations of the corresponding SES and Intelsat financial information, adjusted for the elimination of material intra-group transactions.

PJT Partners Inc. to Report First Quarter 2024 Financial Results and Host a Conference Call on May 2, 2024

Retrieved on: 
Thursday, April 18, 2024
Banking, Professional Services, Finance, Telephone, Webcast, PJT Partners

PJT Partners Inc. (“PJT Partners”) (NYSE:PJT) announced that it expects to release its first quarter 2024 financial results on Thursday morning, May 2, 2024.

Key Points: 
  • PJT Partners Inc. (“PJT Partners”) (NYSE:PJT) announced that it expects to release its first quarter 2024 financial results on Thursday morning, May 2, 2024.
  • The earnings release will be available through the Investor Relations section of the PJT Partners website at www.pjtpartners.com .
  • PJT Partners will host a conference call on Thursday, May 2, 2024 at 8:30 a.m.
  • The conference call will also be accessible as a listen-only audio webcast through the Investor Relations section of the PJT Partners website .

Rackspace Technology Announces Refinancing Transactions, Significantly Reducing Debt and Securing New Money Investment

Retrieved on: 
Tuesday, March 12, 2024
SAN, Rackspace Technology, Line of credit, AI, RCF, PJT Partners, Latham & Watkins

SAN ANTONIO, March 12, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ: RXT), (“Rackspace” or the “Company”), a leading end-to-end hybrid, multicloud, and AI solutions company, today announced that it has closed a private debt exchange (the “Private Exchange”) with certain of its creditors representing more than 72% of the Company’s first lien term loans and more than 64% of its first lien notes, as well as 100% of its Revolving Credit Facility (“RCF”) commitments. 

Key Points: 
  • Through the Private Exchange, Rackspace has eliminated more than $375 million of net debt and has received $275 million of new money (the “New Money Financing”) that will come to the balance sheet as additional liquidity to advance key strategic initiatives.
  • Additionally, the maturities on the RCF and other participating senior debt facilities were extended to May 2028.
  • In connection with the transaction, the Company plans to launch a public debt exchange offer (the “Public Exchange Offer”) to all its outstanding lenders and first lien noteholders.
  • “By both significantly reducing our debt and infusing new capital, this transaction strengthens Rackspace Technology’s financial position and enhances our ability to continue delivering value to our customers with industry-leading hybrid, multicloud and AI solutions,” said Amar Maletira, Chief Executive Officer of Rackspace Technology.

Quinbrook Closes $600m Solar+Storage ‘Continuation Fund’

Retrieved on: 
Thursday, April 4, 2024
Environment, Finance, Consulting, Utilities, Professional Services, Alternative Energy, Sustainability, Green Technology, Energy, Carbon, Power purchase agreement, Growth, LLP, APG, VoF, LP record, CO2, ABP, PJT Partners, Fund, Kirkland & Ellis, Kilowatt-hour, Renewable energy

Quinbrook Infrastructure Partners (“Quinbrook”), a specialist global investment manager focused exclusively on the infrastructure needed for the energy transition today announced the successful closing of Quinbrook Valley of Fire Fund with $600 million in capital commitments from leading US and European institutional investors.

Key Points: 
  • Quinbrook Infrastructure Partners (“Quinbrook”), a specialist global investment manager focused exclusively on the infrastructure needed for the energy transition today announced the successful closing of Quinbrook Valley of Fire Fund with $600 million in capital commitments from leading US and European institutional investors.
  • The lead investor in the Quinbrook Valley of Fire Fund is Blackstone Strategic Partners.
  • “Energy transition is a major theme for Blackstone and we are excited to invest with Quinbrook and Primergy,” said Mark Bhupathi, Head of Blackstone Infrastructure Secondaries.
  • Kirkland & Ellis LLP served as legal counsel to Quinbrook, while Proskauer Rose LLP served as legal counsel to Blackstone Strategic Partners.

GE Aerospace Launches as Independent, Investment-Grade Public Company Following Completion of GE Vernova Spin-Off

Retrieved on: 
Tuesday, April 2, 2024
Air, Transport, Aerospace, Manufacturing, GE Aviation, Tony Emmott, Forward, Culture, Appendix, Growth, Learning, Risk, UBS, DLA, FLIGHT, Bank statement, Morgan Stanley, Piper, BNP Paribas, GE HealthCare, Gibson Dunn, Annual report, GAAP, DLA Piper, PJT Partners, General Electric, Economics

GE Aerospace (NYSE: GE) today announced its official launch as an independent public company defining the future of flight, following the completion of the GE Vernova spin-off.

Key Points: 
  • GE Aerospace (NYSE: GE) today announced its official launch as an independent public company defining the future of flight, following the completion of the GE Vernova spin-off.
  • GE Aerospace will trade on the New York Stock Exchange (NYSE) under the ticker “GE”.
  • ET, GE Aerospace and GE Vernova will ring the opening bell together at the NYSE.
  • GE Aerospace Chairman and CEO H. Lawrence Culp Jr., said, “With the successful launch of three independent, public companies now complete – today marks a historic final step in the multi-year transformation of GE.

Aventiv Technologies Finalizes Comprehensive Financing Agreement with Lenders and Financial Sponsor Platinum Equity

Retrieved on: 
Thursday, March 28, 2024
Creditor, Friends, Employment, Education, Tablet, Mental health, FTI Consulting, Sale, Prison, Recidivism, Willkie Farr & Gallagher, Gibson Dunn, PJT Partners, Family, Platinum, Platinum Equity, Financial adviser

Parties to the agreement are Aventiv (the "Company"); financial sponsor Platinum Equity ("Platinum"); and 100% of its lender group.

Key Points: 
  • Parties to the agreement are Aventiv (the "Company"); financial sponsor Platinum Equity ("Platinum"); and 100% of its lender group.
  • "This financing agreement and the strategic flexibility it provides will ensure we deliver on that promise now and in the future."
  • Advisers engaged in the financing agreement included the following:
    For Aventiv, Milbank acted as legal advisor, FTI Consulting acted as financial advisor, and PJT Partners LP acted as investment banking advisor.
  • For the Lenders, Gibson, Dunn & Crutcher acted as legal advisor, and Evercore acted as financial advisor.

Ducera Partners Continues to Strengthen its Restructuring Group with Appointment of Mike Genereux as a Partner

Retrieved on: 
Monday, February 26, 2024
Finance, Consulting, Business, Banking, Professional Services, Wake Forest University, PJT Partners, Merrill (company), Perella Weinberg Partners, Partner, Business administration, Piper Sandler Companies, Credit Suisse, Postgraduate education, Columbia University, Credit Suisse First Boston

Ducera Partners (“Ducera” or the “Firm”), a leading investment bank, today announced that Mike Genereux has joined the Firm as a Partner within its restructuring group.

Key Points: 
  • Ducera Partners (“Ducera” or the “Firm”), a leading investment bank, today announced that Mike Genereux has joined the Firm as a Partner within its restructuring group.
  • Prior to joining Ducera, Mr. Genereux served as a Managing Director in the restructuring group at Piper Sandler.
  • Before that he was a Partner at Perella Weinberg Partners and a Partner at PJT Partners, where he also served on the firm’s management committee.
  • Prior to those roles, Mr. Genereux was a Senior Managing Director at Blackstone in the firm’s restructuring group.