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GlobeNewsWire
2 months ago
Perella Weinberg Reports Second Quarter 2025 Results; Adds Private Funds Advisory Platform with Acquisition of Devon Park Advisors
Acquisition of Devon Park Advisors Expands Product Offering to Financial Sponsors and other Alternative Asset Managers Immediately Positions Firm to Build Share in Large and Fast-Growing Secondaries Market Financial Overview - Second Quarter Revenues of $155 Million, Down 43% From a Year Ago Adjusted Pre-Tax Income of $12 Million, GAAP Pre-Tax Income of $6 Million Adjusted EPS of $0.09; GAAP Diluted EPS of $0.04 Financial Overview - First Half Revenues of $367 Million, Down 2% From a Year Ago Adjusted Pre-Tax Income of $33 Million, GAAP Pre-Tax Income of $18 Million Adjusted EPS of $0.38; GAAP Diluted EPS of $0.29 Talent Investment Year-to-Date Added Six Partners and Six Managing Directors Six Additional Partners and Three Additional Managing Directors to Join Firm in Coming Months Edwin Bennett and Houda Dabboussi Join Board of Directors Capital Management Strong Balance Sheet with $145 Million of Cash and No Debt Year-to-Date Retired More Than Six Million Shares and Share Equivalents through Purchase, Exchange and Net Settlement; Returning More than $145 Million in Aggregate to Equity Holders Declared Quarterly Dividend of $0.07 Per Share “Our first half results were in-line with our prior year performance and we entered the third quarter with robust client activity in a materially improved market environment compared to the start of the second quarter. We accelerated our investments in talent to expand our client coverage and broaden our capabilities — including the Devon Park transaction announced this morning — a strategic investment that significantly expands the services we provide to alternative asset managers across private equity, credit, infrastructure, venture, and real estate,” stated Andrew Bednar, Chief Executive Officer.
