PJT Partners (formerly Blackstone Advisory Inc) is an advisory-centered investment bank that provides advisory and capital raising services for corporations, financial sponsors, and institutional investors globally. The firm's Strategic Advisory unit consults with businesses on mergers and acquisitions, spin-offs, structure products, and private placements, while its Restructuring & Special Situations unit advises on restructurings and bankruptcies. The Park Hill team offers global alternative asset advisory and fundraising services for the real estate, private equity, hedge funds, and secondary advisory services verticals. PJT, which spun off from Blackstone in late 2015, has offices in the US, London, Hong Kong, Madrid, and Sydney.