What's Happening?
Goldman Sachs and Houlihan Lokey have emerged as the leading financial advisers for mergers and acquisitions (M&A) in North America during the first three quarters of 2025. According to GlobalData's Financial
Deals Database, Goldman Sachs topped the value chart by advising on deals worth $369 billion, while Houlihan Lokey led in volume with 159 deals. Goldman Sachs saw a significant increase in the total value of deals compared to the same period in 2024, moving from second to first place. The firm advised on 66 billion-dollar deals, including seven mega deals valued over $10 billion. Houlihan Lokey retained its top position in deal volume from the previous year. Other notable advisers include JP Morgan, Jefferies, and Evercore in terms of volume, and Morgan Stanley, JP Morgan, Wells Fargo, and Citi in terms of value.
Why It's Important?
The leadership of Goldman Sachs and Houlihan Lokey in M&A advisory highlights their significant influence in the financial sector, particularly in North America. This dominance reflects their ability to secure high-value deals and maintain a high volume of transactions, which can impact the strategic direction of numerous industries. The involvement of these firms in mega deals suggests a robust market for large-scale mergers and acquisitions, potentially leading to significant shifts in market dynamics and competitive landscapes. Companies advised by these firms may benefit from strategic growth opportunities, while competitors may face increased pressure to innovate or consolidate.
What's Next?
As Goldman Sachs and Houlihan Lokey continue to lead in M&A advisory, other financial institutions may seek to enhance their capabilities to compete effectively. The ongoing trend of high-value and high-volume deals could encourage more firms to pursue mergers and acquisitions as a strategy for growth and market expansion. Stakeholders, including investors and corporate leaders, will likely monitor these developments closely to identify potential opportunities and risks associated with large-scale transactions. Regulatory bodies may also scrutinize these activities to ensure compliance with antitrust laws and fair competition practices.
Beyond the Headlines
The prominence of Goldman Sachs and Houlihan Lokey in M&A advisory may influence the broader financial advisory industry, encouraging smaller firms to adopt innovative strategies to capture market share. Additionally, the focus on mega deals could lead to increased scrutiny regarding the ethical implications of large-scale corporate consolidations, including potential impacts on employment, consumer choice, and market competition. As these firms continue to advise on significant transactions, their role in shaping the future of various industries becomes increasingly critical.
