Goldman Sachs Reclaimed Top M&A Spot in 2025
What happened
Goldman Sachs was the top M&A advisory firm in 2025, executing a record volume of deals across TMT, Financial Sponsors, and FIG. The bank's success is attributed to its management of complex, multi-bidder processes and cross-border transactions. This marks a return to the top of the league tables for the firm.
Why it matters
- Globally, Goldman Sachs advised on M&A deals worth $1.66 trillion in 2025, securing a 36.4% market share. The bank's M&A advisory fees for the year totaled $4.6 billion, placing it ahead of competitors JPMorgan ($3.1 billion) and Morgan Stanley ($3 billion). - The year was characterized by a surge in "mega-deals" (transactions over $10 billion), with a record 70 such deals globally. Goldman Sachs advised on 40 of these mega-deals, more than any other bank. - A key transaction for the firm was its sell-side advisory role for video game company Electronic Arts in its pending $56.6 billion sale to a consortium led by Saudi Arabia's Public Investment Fund (PIF), which stands as the largest leveraged buyout (LBO) of all time. - In the rankings for advising on private equity exits, Goldman Sachs also secured the top spot by deal volume, advising on $245.3 billion worth of transactions across 62 deals. - While dominant overall, in the Technology, Media, and Telecom (TMT) sector specifically, Goldman advised on deals totaling $237.2 billion. This placed them behind JPMorgan, which led the sector with $435.5 billion in advised deal value. - The M&A market in 2025 saw total global dealmaking volume reach $5.1 trillion. This active environment was partly attributed to a perceived easing of antitrust enforcement, which encouraged large-scale corporate mergers. - Competitor JPMorgan secured the second position in the global league tables with $1.44 trillion in deal volume, advising on 32 mega-deals. Morgan Stanley ranked third, with $1.17 trillion in volume across 24 mega-deals.
Key numbers
- Goldman Sachs was the top M&A advisory firm in 2025, executing a record volume of deals across TMT, Financial Sponsors, and FIG.
- - Globally, Goldman Sachs advised on M&A deals worth $1.66 trillion in 2025, securing a 36.4% market share.
- The bank's M&A advisory fees for the year totaled $4.6 billion, placing it ahead of competitors JPMorgan ($3.1 billion) and Morgan Stanley ($3 billion).
- The year was characterized by a surge in "mega-deals" (transactions over $10 billion), with a record 70 such deals globally.
Quick answers
What happened in Goldman Sachs Reclaimed Top M&A Spot in 2025?
Goldman Sachs was the top M&A advisory firm in 2025, executing a record volume of deals across TMT, Financial Sponsors, and FIG. The bank's success is attributed to its management of complex, multi-bidder processes and cross-border transactions. This marks a return to the top of the league tables for the firm.
Why does Goldman Sachs Reclaimed Top M&A Spot in 2025 matter?
Globally, Goldman Sachs advised on M&A deals worth $1.66 trillion in 2025, securing a 36.4% market share. The bank's M&A advisory fees for the year totaled $4.6 billion, placing it ahead of competitors JPMorgan ($3.1 billion) and Morgan Stanley ($3 billion). The year was characterized by a surge in "mega-deals" (transactions over $10 billion), with a record 70 such deals globally. Goldman Sachs advised on 40 of these mega-deals, more than any other bank. A key transaction for the firm was its sell-side advisory role for video game company Electronic Arts in its pending $56.6 billion sale to a consortium led by Saudi Arabia's Public Investment Fund (PIF), which stands as the largest leveraged buyout (LBO) of all time. In the rankings for advising on private equity exits, Goldman Sachs also secured the top spot by deal volume, advising on $245.3 billion worth of transactions across 62 deals. While dominant overall, in the Technology, Media, and Telecom (TMT) sector specifically, Goldman advised on deals totaling $237.2 billion. This placed them behind JPMorgan, which led the sector with $435.5 billion in advised deal value. The M&A market in 2025 saw total global dealmaking volume reach $5.1 trillion. This active environment was partly attributed to a perceived easing of antitrust enforcement, which encouraged large-scale corporate mergers. Competitor JPMorgan secured the second position in the global league tables with $1.44 trillion in deal volume, advising on 32 mega-deals. Morgan Stanley ranked third, with $1.17 trillion in volume across 24 mega-deals.
