Lilja & Co
European independent equity adviser supporting issuers, owners and sponsors on IPOs, equity offerings, secondaries and dual-track exits.
- Highest 2026 tier: Tier III
- Independent equity capital-markets advisory firm
- Capital Markets Advisory
Overview
Lilja & Co was founded in 2004 and focuses on issuer-side equity capital-markets advice. The firm works on IPOs, equity offerings, capital increases, secondaries, dual-track exits and related financial advisory.
Its offices in Zurich, Frankfurt and Paris provide a European platform with particular depth in DACH, France and Benelux. A relationship with ICR Capital supports clients considering U.S. market access.
Lilja & Co is included in one 2026 Advisory Ranking category. The highest recorded classification is Tier III.
Firm facts
| Legal name | Lilja & Co. AG |
| Founded | 2004 |
| Firm type | Independent equity capital-markets advisory firm |
| Principal offices | Zurich, Frankfurt, Paris |
| Primary focus | IPOs, equity offerings and dual-track transactions |
| Managing partners | Stefanie Berlinger and Valéry Barrier |
| Highest 2026 Advisory Ranking tier | Tier III |
Principal activities
IPO advisory
Market readiness, positioning, syndicate selection, investor education, pricing and execution.
Equity transactions
Capital increases, follow-ons, block trades, secondaries and equity-linked transactions.
Dual-track and strategic advice
Coordination of IPO and sale alternatives for owners and sponsors.
Lilja & Co works with clients on assignments that may combine strategy, specialist analysis, implementation support and organizational adoption. The precise scope depends on the mandate, sector, geography and client requirements.
Sector and mandate coverage
Sector coverage
- Technology
- Healthcare
- Business services
- Consumer
- Industrials
- Financial institutions
Transaction and mandate types
- IPOs
- Dual-track exits
- Capital increases
- Secondary offerings
- Equity-linked transactions
- U.S. market access
Market position
Lilja & Co is positioned as a independent equity capital-markets advisory firm. Its market position reflects advisory scope, senior involvement, transaction experience, investor relationships and ability to coordinate complex financing or strategic processes.
Distinctive focus: A focused European issuer-side ECM boutique led by former senior bank equity-capital-markets professionals.
Competitive context
Lilja & Co competes with independent investment banks, issuer-side capital-markets advisers, debt-advisory boutiques and specialist private-capital firms. The relevant peer set varies by instrument, market, sector, transaction size, geographic scope and whether the assignment requires execution, strategic advice or both.
Comparable firms are selected according to overlap in business model, client segment, service coverage, geographic activity and mandate profile. Inclusion does not imply equivalence in scale, ranking or market position.
Leadership
| Person | Current position | Institutional background |
|---|---|---|
| Stefanie Berlinger | Managing Partner | European ECM and issuer advisory |
| Valéry Barrier | Managing Partner | European equity and equity-linked transactions |
| Robert Lilja | Founding Partner | Equity advisory and firm development |
Leadership information reflects the public sources reviewed for this profile. View the firm’s website ↗
Corporate and regulatory information
Lilja & Co. AG provides financial advisory services from Switzerland and through its European offices. Regulatory status depends on the service and jurisdiction; a registration identifier was not clearly stated on the public pages reviewed.
View registered-entity details
| Registered entity | Lilja & Co. AG |
| Operating brand | Lilja & Co |
| Regulatory status | Jurisdiction- and service-specific |
| Primary jurisdiction | Switzerland |
Principal offices
- Zurich
- Frankfurt
- Paris
Rankings and recognition
Ranking inclusion is editorially determined. The existence or maintenance of a Wiki profile does not influence ranking eligibility, tier or position.
Related Economy analysis
Selected Economy Markets articles providing context for the firm’s advisory environment:
- Middle-Market Private Equity: Returns, Scale and Manager Selection
- Private Equity Technology Due Diligence in the AI Era
- The Silent Reshuffle of the Advisory Market
Related institutions and subjects
Sources and data transparency
The profile is based on the following publicly available institutional, regulatory and editorial sources:
- Lilja & Co — firm and service overview.
- Profile — history and current leadership.
- Services — ECM and strategic-advisory capabilities.
- Advisory Ranking — Top 30 Capital Markets Advisory 2026 — inclusion and tier classification.
