Investment Banking Analyst (Class of 2026) – Power, Utilities & Renewables

Business Unit:

Financial Restructuring Group

Industry:

Power & Utilities

Overview

Houlihan Lokey, Inc. (NYSE:HLI) is a global investment bank with expertise in mergers and acquisitions, capital solutions, financial restructuring, and financial and valuation advisory. Houlihan Lokey serves corporations, institutions, and governments worldwide with offices in the Americas, Europe, the Middle East, and the Asia-Pacific region. Independent advice and intellectual rigor are hallmarks of the firm’s commitment to client success across its advisory services. The firm is the No. 1 investment bank for all global M&A transactions for the past two years, the No. 1 M&A advisor for the past 10 years in the U.S., the No. 1 global restructuring advisor for the past 11 years, and the No. 1 global M&A fairness opinion advisor over the past 25 years, all based on number of transactions and according to data provided by LSEG.

Financial Restructuring

Houlihan Lokey has the largest worldwide financial restructuring practice of any investment banking firm, with offices and experienced professionals located across the globe. Since its inception in 1988, the restructuring group has advised on more than 1,800 restructuring transactions with aggregate debt claims in excess of $3.8 trillion. With nearly 300 dedicated restructuring professionals worldwide, our group has a significant global presence. We serve clients domestically and around the world, providing extensive resources to staff each case. Our broad base of clients and extensive experience allow us to understand the dynamics of each restructuring situation and the needs, attitudes, and positions of all parties in interest.

Overview

Houlihan Lokey, Inc. (NYSE:HLI) is a global investment bank with expertise in mergers and acquisitions, capital markets, financial restructuring, and financial and valuation advisory. Houlihan Lokey serves corporations, institutions, and governments worldwide with offices in the Americas, Europe, the Middle East, and the Asia-Pacific region. Independent advice and intellectual rigor are hallmarks of the firm’s commitment to client success across its advisory services. The firm is the No. 1 investment bank for global M&A transactions under $1 billion, the No. 1 M&A advisor for the past eight consecutive years in the U.S., the No. 1 global restructuring advisor for the past nine consecutive years, and the No. 1 global M&A fairness opinion advisor over the past 25 years, all based on number of transactions and according to data provided by Refinitiv.

Power, Utilities & Renewables Team

Houlihan Lokey’s growing Power, Utilities & Renewables (“PU&R”) team provides a unique opportunity to gain valuable experience in both sell-side and buy-side M&A and bespoke capital markets activities, as well as the largest and most complex restructuring transactions in the power industry. PU&R has global coverage responsibilities for the firm’s investment banking activities in the power sector, including significant sell-side and buy-side M&A mandates for large renewable projects, merchant energy producers and IPPs, power & gas retailers and investor-owned utilities. In addition, PU&R has worked on all 15 of the largest PU&R restructurings since 2000 including Enron, Energy Future Holdings (TXU), Pacific Gas & Electric and SunEdison. Responsibilities include:

• Advising boards of directors, equity sponsors, owners, investors and other stakeholders of merchant power producers, renewable energy companies, IPPs, retailers and utilities on the evaluation, marketing, and execution of various transactions

• Performing all pertinent financial analyses, including with respect to:

  • Valuations (discounted cash flow, LBO, trading comparables, precedent transactions, etc.)

  • Financing and debt capacity analyses

  • Recovery waterfalls, and recovery and equity split analyses

  • Returns / IRR analyses

• Preparation of marketing materials, pitches, teasers, and various presentations

• Interfacing with the other industry professionals and consultants in evaluating power and utility assets

• Supporting ongoing analyses of recent events, transactions and trends within the power and utility sector

Job Description

Financial Analysts on the PU&R team will work on a variety of transactions including both sell-side and buy-side M&A mandates, capital markets transactions, and creditor- and debtor-side restructurings. The team offers a unique opportunity to work on a variety of projects that provide exposure to various financial advisory and investment banking products. The environment at