RX IB & RX Co. Rankings and Fees as of Q3 '25
Got this sent to me, sharing the rankings on here, as per Octus. For anyone wondering. Not sure how accurate this stuff is but helpful directionally.
Company Engagements (RX IB):

Company Engagements (RX Co):

Final Company + UCC Fees Approved (RX Co):

Final Company + UCC Fees Approved (RX IB):

Damn where tf is $400m in fees coming from
The way it works, I think, is people report what deals the firm is working on and octus verifies them and they themselves scan for any public reports. Obviously in restructuring especially, ther's going to be quite a bit of confidential deals that haven't been released yet. Still doesn't matter, A&M was CRO on the largest deals in '25, so that $400m makes total sense, likely materially higher in reality due to confidential stuff. Which is also why they have "less" cases than FTI etc but massive fees. Crazy numbers though.
A&M goated
Jefferies ?? damn
Lots of smaller deals (just above 1bn) + UCCs
There's no wayyy
FY25 was just released. PJT EVR HL were top with total engagements I believe
Total fees are more important than engagements, but those are prob the top 3 in both of those categories so wouldn’t matter at that point
Based on this i'm guessing Alvarez & Marsal charges a lot higher for their services than others? Why do clients prefer them? Wondering if anyone's got any insights.
If you were about to have a life or death surgery, you wouldn't care how much you paid the surgeon, you'd care about how much experience the surgeon had with similar situations. Same thing here, A&M by far has the most experience dealing with messy, complicated, marquee, expensive bankruptcies. Whatever client can afford them will hire them. Not the time to be stingy about cost when the outcome could result in a liquidation or worse. Different from IB where there's a bake off kinda situation. Economics of a bankruptcy are funny like that.
It's also a good CYA. If A&M can't save you, you atleast get to say you tried virtually everything. At that point the only thing that can save you is divine intervention.
bump
bump
Helpful, thx
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