New Generation Research − publisher of BankruptcyData, The Turnaround Letter and other bankruptcy/restructuring and distressed securities-related content and data platforms, released half-year rankings of professional services firms in the bankruptcy and restructuring industry.
Through six months our industry leaders are:
Claims Agents – Prime Clerk; Epiq Systems and Kurtzman Carson with 22, 7 and 7 retentions, respectively.
Counsel – Pachulski Stang Ziehl & Jones; Young Conaway Stargatt & Taylor and Kirkland & Ellis with 9, 9 and 7 retentions, respectively.
Financial Advisory Firms − FTI Consulting; Alvarez & Marsal; Berkeley Research Group and Province with 12, 11, 6 and 6 retentions, respectively.
Investment Banking Firms − PJT Partners; Evercore Partners and Houlihan Lokey with 6, 6 and 5 retentions, respectively.
Final standings will be announced in 2019 in Washington, D.C.
These second annual awards will draw upon both quantitative and qualitative criteria. As summer draws to a close, it is the all-important data layer that begins to define the finalists: Finalists for the next crop of award winners must first clear a data hurdle and post impressive numbers as to number of engagements.
BankruptcyData's Director of Research, Nicholas Montgomery notes: "Data-based assessments of performance and ability have never been more important. Today we share a preview of whom we may see at the top of the league tables, based on first half numbers and our first-stage, quantitative assessment of the industry's best performances."
New Generation Research's Founder and Publisher, George Putnam, III, adds, "Data is an honest arbiter of past performance, but layering our hard data assessment with a qualitative analysis gives our awards a forward looking element and reveals those professional service firms whose past performances are most indicative of an ability to deliver tomorrow's optimal client outcomes. We have been fascinated by the power of data to unlock value for clients for over twenty years, but never more so then we are today. The increasingly compressed nature of restructurings and reorganizations makes data ever more important as decision makers contend with the added pressure of time at each stage of what may be the most important moments in their corporate life. Our Industry Best Awards provide useful data to distressed companies as to where paths to success lie at these critical moments and instructive guidance for restructuring professionals as to emerging models and standards that will lift the entire distressed debt space."