Overview
Houlihan Lokey, Inc. is a global independent investment bank providing financial advice to corporations, financial sponsors and government agencies. Its principal services are mergers and acquisitions, capital markets, financial restructuring and liability management, and financial and valuation advisory, delivered through its Corporate Finance, Financial Restructuring, and Financial and Valuation Advisory segments.[1][2]
The firm serves clients across industries including business services, consumer, energy, financial services, healthcare, industrials, real estate and technology. As of March 31, 2026, it reported more than 1,900 financial professionals and more than 30 offices worldwide; it serves clients globally, with its restructuring business active in major markets around the world.[2][3][4]
For fiscal 2026, ended March 31, 2026, Houlihan Lokey reported revenue of $2.618 billion.[5][6] Established in 1972, the firm identifies independent advice, intellectual rigor, collaboration and client service as core principles of its approach.[1][7] [1][7][2][3][4][5][6]
Products & services
Houlihan Lokey’s Corporate Finance services include sell-side and buy-side mergers and acquisitions advice, joint ventures, asset sales and divestitures, as well as capital-raising and financing advice for companies and private-equity clients. Its Capital Solutions work can draw on traditional and non-traditional capital providers and combine financing approaches to address clients’ strategic priorities.[8][9][10][11][12][13]
Its Financial Restructuring services advise companies and creditor groups in out-of-court negotiations and formal bankruptcy or insolvency proceedings. Engagements include financial restructurings, liability management, distressed-company change-of-control transactions, and asset sales; the firm identifies Company Advisory and Creditor Advisory among its offerings.[4][14][15][16]
Financial and Valuation Advisory includes financial opinions, valuation and financial consulting. Services cover valuations of companies, securities, assets and complex illiquid investments; transaction diligence and structuring of financial and tax aspects; and transaction-accounting, tax and diligence advice. Named offerings include portfolio valuation and fund advisory, transaction opinions, corporate valuation, and transaction advisory.[17][18][19][20][21][22]
For fiscal 2026, Corporate Finance generated approximately 66.6% of total revenue, Financial Restructuring 20.2%, and Financial and Valuation Advisory 13.2%, based on reported segment revenue and total revenue.[23] [8][9][10][11][12][13][4][14][15][16][17][18][19][20][21][22][23][12][13][15][16][19][20][21][22]
Geographic presence
For FY2026, ended March 31, 2026, Houlihan Lokey reported $1.775 billion in revenue from the United States and $842.2 million internationally, out of $2.618 billion total. This equates to approximately 67.8% U.S. and 32.2% international revenue; the reported breakdown does not provide further regional or country-level revenue shares.[24]
The company’s office directory groups its locations into the Americas, Europe and Middle East, and Asia-Pacific. Its FY2026 filing also identifies regulated operations or subsidiaries in the United Kingdom, Australia, Hong Kong SAR, and India.[25][26][27][28][29][30][31][32] A company-published Q1 2026 update reported 33 worldwide locations and 2,723 global employees; the reviewed sources did not provide an employee breakdown by geography.[33] [24][26][27][28][29][30][31][32][25][33]
Business segments
Houlihan Lokey reports three operating segments. Corporate Finance advises on mergers and acquisitions, capital markets offerings, and private and public debt and equity financings; Financial Restructuring advises debtors, creditors, and other stakeholders on restructurings, recapitalizations, distressed M&A, liability management, and related matters; Financial and Valuation Advisory provides valuation and financial advisory services, transaction opinions, due diligence, tax, transaction accounting, and dispute-resolution services.[34][35][36]
For the fiscal year ended March 31, 2026, Corporate Finance generated approximately 66.7% of revenue ($1.745 billion), Financial Restructuring 20.2% ($528.7 million), and Financial and Valuation Advisory 13.1% ($344.2 million). Percentages are calculated from reported segment revenue and total revenue.[23] [34][35][36][23]
Company history
Houlihan Lokey was founded in Los Angeles in 1972 by Richard Houlihan and O. Kit Lokey. The firm began as a general advisory practice for private businesses and entered investment banking in 1986.[1][37][38][39]
The firm expanded its European presence through acquisitions including McQueen and Leonardo & Co. in 2015, BearTooth Advisors and Quayle Munro in 2018, and Fidentiis Capital in 2019. It completed its IPO in August 2015, and its Class A shares began trading on the New York Stock Exchange.[40][41][42]
In 2021, Houlihan Lokey acquired Japan-based GCA Corporation, broadening its international corporate-finance business. In 2024, Scott Adelson succeeded Scott Beiser as chief executive officer; Beiser had led the company since 2003.[43][44][45] [1][41][42][37][38][39][40][43][44][45]
Sources
- HOULIHAN LOKEY, INC. — Full financial report (2026 Y)
- HOULIHAN LOKEY, INC. — Press release (2026 Y)[6]
- hl.com[12]
- hl.com[13]
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- hl.com[20]
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- hl.com[25]
- www2.hl.com[33]
- houlihan-hva.com[37]
- www.legacy.com[38]
- hl.com[39]
- investors.hl.com[40]
- investors.hl.com[43]
- investors.hl.com[44]
- investors.hl.com[45]
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