PWP Acquires Devon Park to Expand Secondaries Advisory

Perella Weinberg Partners (PWP) reported second quarter 2025 results that beat analyst expectations, with a non-GAAP EPS of $0.09 and GAAP revenue of $155.3 million, despite a 43% revenue decline attributed to the absence of a prior one-time mega-deal. Executives described the firm’s client activity as resilient, though revenue volatility persists. In a strategic move, PWP announced the acquisition of Devon Park Advisors, a specialist in continuation-fund deals, to enhance its presence in the expanding private funds and GP-led secondaries market. The Devon Park team will head PWP’s new private funds advisory unit, broadening solutions for alternative asset managers and limited partners worldwide. These steps reinforce PWP’s commitment to expanding its advisory services and strengthening client relationships during a challenging market environment.