Moelis & Co
Moelis & Co is an independent investment bank that advises corporations, financial sponsors, governments, and sovereign wealth funds on strategic transactions. Its core work centers on M&A, recapitalizations, restructurings, capital markets transactions, and other corporate finance matters, delivered through a global advisory platform with a strong emphasis on confidentiality and senior-level advice.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueAdvice on buy-side, sell-side, and transformational merger transactions.
Recapitalizations, liability management, and restructuring assignments.
Advisory and execution support for public and private capital raising.
Secondary transactions, GP-led solutions, and private capital solutions for sponsors.
Selected securities underwriting and other corporate finance matters.
Customers
Moelis serves a mix of large public companies, middle-market private companies, financial sponsors, entrepreneurs, governments, and sovereign wealth funds. Clients hire the firm when they need independent advice on complex, high-stakes transactions where confidentiality, execution quality, and sector expertise matter more than balance-sheet lending. Cross-border mandates are important, especially where the firm’s global platform and regional alliances help clients enter or expand in new markets.
They buy M&A, capital markets, and strategic advice for transformational transactions and portfolio reshaping.
Private equity and other sponsors use the firm for acquisitions, exits, liability management, and secondary solutions.
These clients seek sale, recapitalization, restructuring, and growth-capital advice.
They engage Moelis for strategic advisory on investments, divestitures, and cross-border transactions.
They use the firm for confidential advice on ownership transitions and strategic alternatives.
Strategy
Moelis is focused on broadening its advisory mix across M&A, capital structure, capital markets, and private capital advisory so it can participate in more parts of the transaction cycle. Management is also investing in growth areas such as private capital advisory while leveraging a diversified sector platform, strong liquidity, and zero debt to stay flexible through volatile markets.
Higher strategic and sponsor activity should increase transaction opportunities across the cycle.
GP-led secondaries and private capital solutions are a growing source of mandates.
Liability management and restructuring work can offset weaker traditional restructuring volumes.
The firm competes on advice quality, confidentiality, and execution rather than balance-sheet products.
Geography
Moelis operates as a global advisory firm with more than 20 locations across North and South America, Europe, the Middle East, Asia, and Australia. The company highlights strategic alliances in Mexico and Australia/New Zealand, and it maintains a presence in Brazil, giving it coverage in the largest Latin American markets. Geography matters because deal flow, regulation, and client relationships are local, while cross-border transactions are a meaningful part of the franchise.
Risks
Moelis is exposed to cyclical transaction volumes, so revenue timing can shift quickly when M&A, capital markets, or restructuring activity slows. The firm also faces operational, cybersecurity, regulatory, and foreign exchange risks because it operates across multiple jurisdictions and relies heavily on information systems and confidential client data.
- Transaction volume cyclicalityImpact: HighLikelihood: Medium
Advisory fees depend on deal completion, so weaker M&A or capital markets activity can reduce revenue.
Exposure - Revenue timing and deal delaysImpact: HighLikelihood: Medium
The firm is often paid only when transactions close, making quarterly results sensitive to timing shifts.
Exposure: All advisory mandates
- Cybersecurity and operational disruptionImpact: HighLikelihood: Medium
The business depends on secure systems and confidential information; breaches can cause losses and reputational damage.
Exposure - Regulatory and broker-dealer complianceImpact: MediumLikelihood: Low
The firm operates regulated subsidiaries in multiple jurisdictions with capital, record-keeping, and conduct requirements.
Exposure - Foreign exchange volatilityImpact: MediumLikelihood: Low
Non-U.S. currency exposures can affect reported revenue and other income across international operations.
Exposure
Accounting
Judgemental itemsFees are frequently contingent on transaction completion, so recognition timing can differ from work performed.
Impact: Can create significant quarter-to-quarter revenue volatility
International operations generate non-U.S. dollar exposures that flow through earnings and OCI.
Impact: Affects reported revenue, other income, and comprehensive income
Advisory receivables require judgment about collectability from clients.
Impact: Can affect operating expenses and net income
A large share of costs is tied to bonuses and equity-based compensation.
Impact: Drives operating margin and seasonal expense patterns
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Last updated: 24/09/2026