Goldman Sachs and Houlihan Lokey were the top mergers and acquisitions (M&A) financial advisers in the technology, media, and telecom (TMT) sector in H1 2023, according to GlobalData’s latest league table.

The leading data and analytics company ranks advisers by the value and volume of M&A deals on which they advised.

According to its financial deals database, Goldman Sachs was the leading adviser measured in terms of value by advising on $57.3bn worth of deals during the period. Houlihan Lokey came top measured by number of transactions, after advising on 30 deals.

“Goldman Sachs and Houlihan Lokey led the chart by value and volume, respectively, in H1 2022 and are able to retain their leadership position in H1 2023 as well,” said GlobalData lead analyst Aurojyoti Bose.

“Meanwhile, Houlihan Lokey led by volume in H1 2023 but lagged in terms of value and did not feature among the top 10 advisers by value. On the other hand, Goldman Sachs, despite advising on half the number of deals advised by Houlihan Lokey, managed to top the chart by value due to its involvement in big-ticket deals. Goldman Sachs advised on eight billion-dollar deals [valued at $1bn or more], which also included two mega deals valued at more than $10bn.”

Morgan Stanley came second in terms of value by advising on $47.7bn worth of deals, followed by JP Morgan with $40.1bbn, Moelis & Company with $29bn and HSBC with $24.8bn.

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By GlobalData

Runners-up in terms of volume were PwC with 29 deals, Rothschild & Co with 24 deals, William Blair with 20 deals and KPMG with 20 deals.

GlobalData’s league tables are based on the real-time tracking of thousands of company websites, advisory firm websites and other reliable sources available on the secondary domain. A dedicated team of analysts monitors all these sources to gather in-depth details for each deal, including adviser names.

To ensure further robustness to the data, the company also seeks submissions of deals from leading advisers.