JP Morgan and Houlihan Lokey are top M&A financial advisers in first quarter of 2025

JP Morgan and Houlihan Lokey have emerged as primary financial consultants in the mergers and acquisitions (M&A) realm during the first quarter of 2025, as per fresh data released by GlobalData. The rankings are determined based on the overall value and volume of M&A transactions that these advisors have overseen.

JP Morgan secured the top slot in the deal value rankings by steering transactions amounting to $133.6bn, while Houlihan Lokey triumphed in deal volume with engagement in a total of 69 transactions. According to Aurojyoti Bose, a lead analyst at GlobalData, it is noteworthy that both JP Morgan and Houlihan Lokey had previously held the top spot by value and volume in Q1 2024. Despite a decline in value and volume year-on-year, they managed to outpace their competitors, thus maintaining their lead positions in the first quarter of 2025. Houlihan Lokey saw a slight fall in deal volume, resulting in the consistent number of transactions they advised on in Q1 2025 compared to the previous year. Meanwhile, around half of JP Morgan’s deals during the same period were billion-dollar engagements, inclusive of four mega deals surpassing $10bn, significantly contributing to their leadership in deal value and securing the second rank by volume.

JP Morgan also ranked second in deal volume, advising on 56 transactions. Goldman Sachs closely followed with 52 deals, and PwC and Morgan Stanley worked on 38 and 36 deals, respectively. On the other hand, Goldman Sachs stood second for deal value, managing transactions worth $130.4bn. Other notable institutions in this segment included Morgan Stanley, Citi, and Barclays with deal values of $96.7bn, $83.2bn, and $74.7bn, respectively.
The league tables by GlobalData are compiled using live tracking from numerous company and advisory firm websites and other credible sources available online. This real-time data is collected and monitored closely by a dedicated team of analysts to provide comprehensive details about each deal, including the names of advisors.

The goal is to ensure comprehensive and reliable data coverage, which further involves the submission of deals from leading advisors for enhanced data robustness.