Investment Banking PCA Rankings / Discussion / Insights

Hi all, current analyst in PE secondaries. just wanting to learn more about the general PCA landscape. I understand that my list is rather incomplete, so feel free to add your own thoughts. From my own research and experiences, here is the conclusion I came up with:

Tier 1:

  • Evercore: the best in the game, owning half the secondaries advisory market

Tier 2:

  • Jefferies: Decent Deal flow, ex-greenhill ppl, which used to be #1 in the game
  • PJT: Also decent, good amount of deals
  • Moelis: ??? apparently ppl from Jefferies going here, haven't seen many deals from them however

Tier 3:

  • Lazard: decent deals, only does GP-leds
  • Campbell Lutyens: Not an investment bank, but a placement agent

Tier 4:

  • Everyone else
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July 2026 Investment Banking

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  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.3%
  • Guggenheim Partners 01 97.7%
  • Morgan Stanley 07 97.1%

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