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U.S. Boutiques Take Lead in Restructuring Brazil Fallen Giants

  • PJT, Moelis, Houlihan Lokey get lion’s share of advisory work
  • Banks help bondholders, firms in resolving about $21 billion

Three U.S. investing banking boutiques are dominating the business of advising bondholders and companies through the biggest wave of debt restructuring in Brazil’s history.

PJT Partners Inc., Moelis & Co. and Houlihan Lokey Inc. are helping to renegotiate about $21 billion of the $27 billion in international debt that’s gone bad in Brazil during the nation’s worst recession in a century.