Market Overview

Houlihan Lokey Launches Syndicated Leveraged Finance Platform

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New Service Offering Substantially Enhances the Capabilities of the
Firm's Rapidly Growing Capital Markets Group

Houlihan Lokey (NYSE:HLI), the global investment bank, today announced
the formation of HL Finance, LLC ("HL Finance") to arrange senior
secured leveraged loans for financial sponsor-backed, privately-held,
and public corporate entities.

HL Finance will act as arranger on syndicated loan transactions and has
entered into an agreement with HPS Investment Partners, as the initial
strategic investor, to participate in the transactions and provide
underwriting commitments of up to $1 billion.

Houlihan Lokey, through this platform, will participate in both
committed and best efforts transactions across a broad range of
financings, including leveraged buyouts, acquisitions, dividend
recapitalizations, and refinancings, primarily for borrowers with EBITDA
and capital needs in excess of $50 million and $250 million,
respectively.

"The creation of a syndicated leveraged finance platform leverages our
core advisory capabilities and relationships and combines them with the
credit underwriting and portfolio management strengths of market-leading
asset managers. Importantly, this initiative is driven by significant
client demand and is consistent with our advisory business model," said
Scott Beiser, CEO of Houlihan Lokey.

Syndicated leveraged finance is highly complementary with and will
operate as part of Houlihan Lokey's Capital Markets Group, led by Global
Co-Heads Chris Dunlop, Anthony Martino, and Gregg Newman. In
anticipation of launching this initiative, the Group has added
significant senior talent over the past year, including Matthew Lyness
and Ed Ribaudo. Mr. Lyness and Mr. Ribaudo were both formerly Managing
Directors with GE Antares in New York, serving as client team leaders
with structuring and syndication responsibilities, respectively.

The Capital Markets Group, which consists of 35 professionals based in
New York, Los Angeles, Houston, London, Madrid, Milan, and Sydney,
through its private capital solutions and capital markets advisory
offerings, raised more than $12.5 billion across approximately 40
transactions during Houlihan Lokey's fiscal year ended March 31, 2018.

"We are very excited about the continued growth of our Capital Markets
Group and believe this new capability, combined with our deep expertise
across industry sectors, substantially increases the opportunity to
support our clients' needs," said Scott Adelson, Co-President and
Co-Head of Corporate Finance.

About Houlihan Lokey

Houlihan Lokey (NYSE:HLI) is a global investment bank with expertise in
mergers and acquisitions, capital markets, financial restructuring,
valuation, and strategic consulting. The firm serves corporations,
institutions, and governments worldwide with offices in the United
States, 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. Houlihan
Lokey is ranked as the No. 1 M&A advisor for all U.S. transactions, the
No. 1 global restructuring advisor, and the No. 1 global M&A fairness
opinion advisor over the past 20 years, according to Thomson Reuters.
For more information, please visit www.HL.com.

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