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New York, July 17, 2026 – In the first half of 2026, the global mergers and acquisitions (M&A) advisory landscape was defined by the dominance of billion-dollar transactions and the firms that secured them.
According to GlobalData’s latest rankings, Goldman Sachs surged to the top in deal value, while Houlihan Lokey retained its crown in deal volume.
On the legal front, Kirkland & Ellis emerged as the undisputed leader, topping both value and volume tables.
Goldman Sachs recorded an impressive US$597.4 billion in deal value across 104 transactions, a leap from its third place position in the same period last year.
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The firm’s rise was fueled by its involvement in 61 billion dollar deals and 20 mega deals exceeding US$10 billion, underscoring its dominance in large-cap advisory.
Houlihan Lokey, meanwhile, continued to demonstrate consistency in transaction volume, advising on 152 deals, the highest among all financial advisers.
Its strategy of focusing on mid market and diversified transactions has allowed it to maintain leadership in volume for consecutive years.
Other financial heavyweights also made their mark.
Morgan Stanley secured second place in volume with 122 deals, amounting to US$420 billion in value.
JPMorgan followed with 90 transactions worth US$382.2 billion, while Bank of America and Wells Fargo rounded out the top five by value, recording US$230.4 billion and US$208.9 billion respectively.
On the legal advisory side, Kirkland & Ellis delivered a commanding performance, advising on 267 transactions worth US$411.8 billion.
This nearly doubled its deal value compared to H1 2025, propelling the firm from third to first in value and from second to first in volume.
Its portfolio included 50 billion-dollar deals and six mega-deals above US$10 billion, cementing its reputation as the go-to legal adviser for complex, high-value transactions.
Paul, Weiss, Rifkind, Wharton & Garrison followed closely with US$366.2 billion across 111 deals, while Sullivan & Cromwell secured third place in value at US$311.1 billion.
Latham & Watkins ranked second in volume with 234 transactions worth US$237.8 billion, and Skadden, Arps, Slate, Meagher & Flom completed the top five with US$232.6 billion in deal value.
The rankings highlight a clear trend: scale matters more than ever. Firms that secured mandates on billion dollar and mega-deals saw the strongest gains, reshaping the competitive landscape.
Goldman Sachs’ leap in deal value and Kirkland & Ellis’ dual leadership reflect the growing importance of large-cap consolidation in driving advisory success.
For investors and corporate strategists, the first half of 2026 signals a market environment where cross-border consolidation and mega deals are increasingly critical drivers of growth.
Advisory firms that can navigate these complex transactions are poised to remain at the forefront of global deal-making.
