New Role: Sandro Galfetti has been appointed as a Managing Director in the Capital Solutions Group at Houlihan Lokey, based in Zurich. He will focus on advising EMEA-based private capital sponsors on GP-led transactions, including single- and multi-asset continuation vehicles.
Team Expansion: The Equity Capital Solutions team now consists of approximately 40 financial professionals across major cities including New York, San Francisco, London, Paris, and Zurich.
Background and Experience
Previous Positions: Galfetti previously served as Head of EMEA Secondary Advisory at UBS Investment Bank, specializing in private capital secondary transactions. He has also held a Managing Director position at PJT Partners and worked at Capital Dynamics in the private equity secondary investment team.
Career Start: His career in financial services began in 2002 at Swiss Re in Zurich.
Strategic Importance of Appointment
Growth in Secondary Market: The appointment of Galfetti is seen as a strategic move to capitalize on the anticipated growth in the secondary market, which is expected to increase dollar volumes significantly in the short, medium, and long term.
Client-Centric Approach: Galfetti emphasizes the need for sophisticated, tailored liquidity solutions as the secondaries market matures, aligning with Houlihan Lokey’s commitment to being a trusted advisor in alternatives.
Houlihan Lokey's Capital Solutions Group
Transaction Experience: The Secondary Solutions team has over $19 billion in GP-led secondary transaction experience and closed 15 GP-led transactions in 2024.
Professional Network: The team maintains deep relationships with various investors, including traditional secondary investors, family offices, and sovereign wealth funds, enhancing their advisory capabilities.
Group Size and Reach: The Capital Solutions Group comprises more than 170 professionals across 15 offices in six countries, having raised and advised on approximately $23 billion across around 115 transactions in 2024.
Company Overview
Firm's Expertise: Houlihan Lokey is recognized for its expertise in mergers and acquisitions, capital solutions, financial restructuring, and valuation advisory, serving a global clientele.
Industry Leadership: The firm has been ranked as the No. 1 investment bank for global M&A transactions for the past two years and has maintained top positions in various advisory categories over the last decade, according to LSEG data.
HLI
$177.47+Infinity%1D
Analyst Views on HLI
Wall Street analysts forecast HLI stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for HLI is 222.75 USD with a low forecast of 210.00 USD and a high forecast of 235.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
Wall Street analysts forecast HLI stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for HLI is 222.75 USD with a low forecast of 210.00 USD and a high forecast of 235.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Buy
1 Hold
0 Sell
Strong Buy
Current: 177.070
Low
210.00
Averages
222.75
High
235.00
Current: 177.070
Low
210.00
Averages
222.75
High
235.00
UBS
Neutral
initiated
$193
2025-12-11
Reason
UBS
Price Target
$193
2025-12-11
initiated
Neutral
Reason
UBS assumed coverage of Houlihan Lokey with a Neutral rating and $193 price target, noting strong sector fundamentals across 20 U.S. asset managers and brokers despite more mixed views on valuations and consensus expectations.The outlook favors undervalued growth, disciplined capital allocation, and firms positioned for margin expansion, while secular tailwinds support wealth brokers and independent investment banks whose robust earnings growth appears partly priced in, the analyst tells investors in a research note.
Keefe Bruyette
Outperform
maintain
$226 -> $230
2025-10-31
Reason
Keefe Bruyette
Price Target
$226 -> $230
2025-10-31
maintain
Outperform
Reason
Keefe Bruyette raised the firm's price target on Houlihan Lokey to $230 from $226 and keeps an Outperform rating on the shares.
Morgan Stanley
Overweight
maintain
$192 -> $213
2025-09-08
Reason
Morgan Stanley
Price Target
$192 -> $213
2025-09-08
maintain
Overweight
Reason
Morgan Stanley raised the firm's price target on Houlihan Lokey to $213 from $192 and keeps an Overweight rating on the shares. With the M&A cycle "gaining steam," the firm estimates M&A volumes to fully revert back to three decade averages versus nominal GDP in 2027 and is rolling its valuation year from 2026 to 2027, the analyst tells investors in a note on the Midcap Advisors group.
Keefe Bruyette
Alex Bond
Market Perform -> Outperform
upgrade
$185 -> $232
2025-07-13
Reason
Keefe Bruyette
Alex Bond
Price Target
$185 -> $232
2025-07-13
upgrade
Market Perform -> Outperform
Reason
Keefe Bruyette analyst Alex Bond upgraded Houlihan Lokey to Outperform from Market Perform with a price target of $232, up from $185, following a transfer of coverage. The firm believes the merger and acquisition environment should continue to improve gradually throughout the second half of the year. While policy and geopolitical uncertainty remain a risk, deal pipelines are still near all-time highs, the analyst tells investors in a research note.
About HLI
Houlihan Lokey, Inc. is a global investment bank specializing in mergers and acquisitions, capital solutions, financial restructuring, and financial and valuation advisory. Its segments include Corporate Finance (CF), Financial Restructuring (FR), and Financial and Valuation Advisory (FVA). CF segment provides general financial advisory services and advice on mergers and acquisitions and capital solutions offerings. FR segment offers a range of advisory services to its clients, including: the structuring, negotiation, and confirmation of plans of reorganization; liability management transactions; corporate viability assessment, and procuring debtor-in-possession financing. FVA segment provides financial advisory and valuation services with respect to companies, debt and equity interests (including complex illiquid investments), and other types of assets and liabilities, and others. It also provides investment banking advice to clients in the insurance and wealth management sectors.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
