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AlixPartners
AlixPartners was founded in 1981 by Jay Alix, a former automotive executive who pioneered the concept of the independent turnaround consultant.
AlixPartners
AlixPartners was founded in 1981 by Jay Alix, a former automotive executive who pioneered the concept of the independent turnaround consultant. The firm grew from a single office in Southfield, Michigan, to a global practice with over 2,000 professionals across 20+ offices worldwide. Simon Freakley has served as CEO since 2018, succeeding co-Founder Jay Alix. The firm's practice spans four core pillars: turnaround & restructuring, performance improvement, digital transformation, and forensic investigations. It serves distressed companies, private equity portfolio companies, and creditors. Sectors covered include automotive, energy, financial services, healthcare, and retail. Notable recent engagements include advising on the restructuring of LATAM Airlines (per Bloomberg, 2022) and acting as operational advisor to creditors in the JCPenney bankruptcy (per Reuters, 2020). Geographic footprint covers North America, Europe, Asia, and the Middle East. AlixPartners maintains a private equity practice called AlixPartners Capital Partners, which makes minority investments in portfolio companies requiring operational support. In 2023, the firm was acquired by Lindsay Goldberg, a private equity firm, for an undisclosed amount (per The Wall Street Journal, 2023), ending Jay Alix's ownership. The firm employs over 3,000 people globally as of 2024. In April 2024, AlixPartners launched a new technology practice to help clients with AI and digital transformation (per the firm's press release, April 2024). AlixPartners is structurally unique among consulting firms: it was built specifically around crisis intervention and operational turnaround, not strategy consulting. Its fees often include success-based components tied to creditor recovery. Unlike the Big Three (McKinsey, BCG, Bain), AlixPartners operates as a partnership with a strong culture of interim management and hands-on execution, and it has a formal policy of not investing in public equities or managing assets, separating it from asset managers.
General information
Firm type
other
Year founded
1981
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Additional offices
London, UK · San Francisco, CA · Chicago, IL · Dallas, TX · Paris, France
Principals
Jay Alix
Founder
Simon Freakley
CEO
Ted Bililies
Managing Director
Sector focus
Frequently asked questions
Is AlixPartners a family office?
No, AlixPartners is a management consulting and advisory firm specializing in turnaround, restructuring, and performance improvement. It is not a family office or asset manager. Some confusion may arise because it advises family offices on portfolio company restructurings, but AlixPartners itself does not manage money on behalf of a family.
Who owns AlixPartners?
AlixPartners was owned by its founding partners until 2023, when Lindsay Goldberg, a New York-based private equity firm, acquired a controlling interest (per The Wall Street Journal, 2023). Prior to that, Jay Alix and other partners held ownership. The firm operates as a partnership with decision-making distributed among managing directors.
What is AlixPartners Capital Partners?
AlixPartners Capital Partners is a minority investment arm that takes small equity stakes in companies where AlixPartners is providing operational or turnaround advisory services. It is not a dedicated fund with external LPs; it invests AlixPartners' own capital and does not manage client assets.
Does AlixPartners invest directly in companies or funds?
AlixPartners does not invest in external funds or make direct venture capital or private equity investments on behalf of third parties. The firm's own investments, through AlixPartners Capital Partners, are limited to minority co-investments alongside client engagements and are made from the firm's own balance sheet.
What industries does AlixPartners specialize in for turnaround work?
AlixPartners has historical strength in automotive (where Jay Alix began) and has expanded into retail, energy, financial services, healthcare, and transportation. The firm is frequently appointed as operational advisor in Chapter 11 cases, particularly for large retailers and airlines.
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