Best Private Capital Advisory (PCA) Firms in 2026?
I'm currently interning at a bank doing PCA, but was wondering what banks have the best PCA groups based on deal volume, value, and overall culture/WLB, and opportunities to move up the ranks fast or has a flat (relatively) hierarchy structure. I would love to hear everyones thoughts!
EVR
EVR is far from flat at this point. If you’re looking for flat and fast progression would look at the more recent entrants from the last few years that are actively building out
After that though?
Probably LAZ, especially after the recent acquisition. PJT.
If I had to rank them:
S+: EVR
S: PJT / LAZ-CL
A: JEFF / MOE / GHL-MIZ
A-: UBS PFG / HL-Triago / Rothschild
B+: Piper Sandler / William Blair / Baird
B: Rede / Eaton-Stifel / Probitas
B-: RJ-Cebile / Asante / Monument / Acalyx
C+: DC Advisory / Lincoln
Thanks, this was helpful.
What do you think of Devon Park? I used to see them then I think they got acquired by Jeff or Moe?
PWP* - not super active
Yeah they were acquired by PWP. Honestly not sure where I would put PWP-Devon Park. It’s an EB so I’m sure comp is great, but they aren’t very active. They only have one office, and it’s based out of Palm Beach, but if good weather is important to you that’s all the better haha. I’d also add that Moelis is growing a lot, and that Lazard-CL will likely supersede PJT once the merger is complete over the next few years. It’ll be a while before Lazard-CL surpasses EVR. That will probably happen in the next few decades—if it happens at all. EVR by far dominates the PCA space right now, and will for the near-term.
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