Why do PE firms publicly disclose their portcos on their webpage, but investment banks can't say what companies they are advising?
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Never ask this in an interview.
Every client of the bank has signed a CA ("Confidentiality Agreement") or NDA ("Non-Disclosure Agreement") - they are the same thing, just with different titles.
Most clients wouldn't want other people to know they are "up for sale" or "exploring strategic alternatives". For public companies, this would cause SEC-related issues.
If you are talking about the debt side of investment banks (or equity for that matter) - all of the players are listed on the offerings.
You're comparing apples and oranges. PE firms can disclose their portfolio companies because the deals in which the PE firm acquired each portfolio company has already closed. Similarly, banks can advertise what clients they have advised, assuming the deal has already closed and been announced.
PE firms can't (usually) disclose what transactions they are working on, assuming the transaction is ongoing and hasn't closed yet, just like how the bank that is advising them or the target can't disclose who they are advising.
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