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PJT Partners to acquire CamberView

PJT Partners is to acquire CamberView Partners Holdings, an advisory firm providing independent advice to assist public company boards of directors and management teams in building strong and successful relationships with investors.

CamberView has extensive experience advising clients in all aspects of corporate governance and shareholder activism, including contested situations. The CamberView team has an unparalleled depth of institutional client insight, bringing many years of leadership experience from some of the largest index, actively managed and pension funds as well as governance advisory firms.
CamberView was founded in 2012 with headquarters in San Francisco and offices in New York and London, and serves clients globally with a team of more than 40 professionals. The firm has advised more than 180 public companies across a broad range of industries, including nearly half of the Fortune 100.
Paul J Taubman, Chairman and Chief Executive Officer of PJT Partners, says: “We are pleased to welcome the CamberView team into PJT Partners. CamberView’s deep experience and expertise in shareholder and governance matters significantly expands our ability to serve clients. CamberView shares a commitment to integrity, collaboration and best-in-class client service, which is at the heart of our firm.”
Under the terms of the acquisition agreement, the Company will acquire 100 per cent ownership of CamberView in exchange for total consideration of approximately USD165 million, comprised of approximately USD100 million of equity in a combination of Class A common stock and partnership units and USD65 million of cash, subject to net working capital and other adjustments as set forth in the agreement.
Abe M Friedman, Chief Executive Officer and a founder of CamberView, says: “We are excited to become a part of PJT Partners, which will enable us to provide our clients access to a fuller suite of advisory capabilities. PJT Partners shares an intense focus on providing the highest integrity client service and our mutual commitment to an entrepreneurial culture of collaboration will ensure a smooth transition and enhance our service to clients.”
Ignacio Jayanti, Managing Partner of Corsair Capital LP, CamberView’s largest investor, says: “This transaction provides CamberView’s world class team access to increased resources, expertise and scale to expand its service offering to clients and accelerate long-term growth. This combination brings together two businesses with proven track records of successfully advising blue chip companies globally. Corsair is looking forward to becoming a shareholder in PJT Partners.”
The transaction is subject to receipt by PJT Partners of applicable regulatory approvals and other customary conditions, and is expected to close early in the fourth quarter of 2018.

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