Perella Weinberg Partners announced an agreement to acquire Devon Park Advisors, a premier GP-led secondaries advisory firm founded in 2021. This acquisition is expected to close early in the fourth quarter, pending regulatory approval, and will establish Perella Weinberg’s Private Funds Advisory business, led by Devon Park's founder, Jonathan Costello. Devon Park has advised on over $4.5 billion in transactions since its founding.
For the second quarter of 2025, Perella Weinberg reported revenues of $155.3 million, a 43% decrease from the record $272.0 million in Q2 2024, which included a single large transaction fee. First-half 2025 revenues were $367.1 million, down 2% from $374.1 million in the first half of 2024, primarily due to decreased M&A contribution.
The firm reported GAAP earnings per share of US$0.043 for Q2 2025, compared to a US$1.21 loss per share in Q2 2024. GAAP total compensation and benefits were $108.3 million, while non-compensation expenses decreased to $38.0 million, helped by lower litigation spend.
Perella Weinberg maintained a strong balance sheet with $145.0 million in cash and no outstanding debt. The firm returned $145.2 million to equity holders in the first six months of 2025 through share buybacks, unit exchanges, and dividends. The Board of Directors also appointed two new Independent Directors, Edwin Bennett and Houda Dabboussi.
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