Letter From The President



Public Resources Advisory Group (“PRAG”) is a leading independent financial advisory firm serving state and local governments and their agencies and authorities, not-for-profits and other entities that secure funding in the public capital markets. PRAG is registered as a Municipal Advisor with the Municipal Securities Rulemaking Board and the U.S. Securities and Exchange Commission, and is a Registered Investment Adviser.

Since our founding in 1985, PRAG has experienced significant growth and has developed into a leading financial advisor in the municipal market. In 2023, based on data from Refinitiv, PRAG advised on 136 issues totaling over $34.7 billion, ranking second based on dollar volume and in 2022 and 2021, we advised on 157 and 202 issues respectively, totaling over $35.2 billion in 2022 and $44.5 billion in 2021, ranking second each year as well.

In addition to our leadership in the market, we are proud of our client retention. Several clients have retained PRAG as financial advisor since we were founded in 1985 and we have advised many others for over twenty years. Our leadership and client retention result from our emphasis on providing high quality service, enhanced by our expertise in financial planning and structuring and executing transactions on behalf of our clients. They also reflect the capabilities of our staff, recognized for the strength of its quantitative skills, understanding of the markets and knowledge of credit.

If you need assistance with financial planning, capital financing or investment advice, our professionals will provide optimal service.


Steven Peyser
Public Resources Advisory Group