GlobalData has announced its latest Financial and Legal Adviser League Tables, which rank advisers by the total value and volume of merger and acquisition (M&A) deals on which they acted as advisers in the power sector during Q1–Q3 2026.
Financial Advisers
Goldman Sachs and Morgan Stanley are the leading M&A financial advisers in the power sector for Q1–Q3 2026
Goldman Sachs and Morgan Stanley were the leading financial advisers for mergers and acquisitions (M&A) in the power sector during the first three quarters (Q1–Q3) of 2026 in terms of value and volume, respectively, according to the latest financial advisers league table published by GlobalData, a leading intelligence and productivity platform.
An analysis of GlobalData’s Deals Database reveals that Goldman Sachs took the lead in terms of value, having advised on deals worth $148.8 billion. Meanwhile, Morgan Stanley led in terms of volume, having advised on a total of 22 deals
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Morgan Stanley saw year-on-year growth in deal volume, as well as an improvement in its ranking by this metric, rising from second place during Q1–Q3 2025 to the top spot during Q1–Q3 2026. It also ranked eighth by value.”
“Similarly, Goldman Sachs saw the value of its total advised deals rise nearly threefold, which helped improve its ranking by value from third to first place. Its involvement in the $102.5 billion deal for Dominion Energy’s merger with NextEra Energy and the $33.4 billion deal for the acquisition of The AES by a consortium of investors played a pivotal role in Goldman Sachs securing the top spot by value. It also held sixth place by volume.”
JPMorgan ranked second in terms of value, having advised on deals worth $147.7 billion, followed by Wells Fargo with $136.3 billion, Bank of America with $132.6 billion, and Lazard with $110.2 billion.
Meanwhile, JPMorgan ranked second in terms of volume with 15 deals, followed by Rothschild & Co with 15 deals, Barclays with 14 deals, and PWC with 13 deals.
Legal Advisers
Kirkland & Ellis and Latham & Watkins are the leading M&A legal advisers in the power sector for Q1–Q3 2026
Kirkland & Ellis and Latham & Watkins were the leading legal advisers on mergers and acquisitions (M&A) in the power sector during the first three quarters (Q1–Q3) of 2026 in terms of value and volume, respectively, according to the latest league table of legal advisers published by GlobalData, a leading intelligence and productivity platform.
An analysis of GlobalData’s Deals Database reveals that Kirkland & Ellis took the lead in terms of value, having advised on deals worth $169.5 billion. Meanwhile, Latham & Watkins led in terms of volume, having advised on a total of 26 deals.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Latham & Watkins was the leading adviser by volume in Q1–Q3 2025 and retained its leading position by this measure in Q1–Q3 2026 as well. However, it faced close competition from Gibson, Dunn & Crutcher, which came second in terms of volume with 25 deals.”
“However, Kirkland & Ellis was the clear winner in terms of value, outpacing its peers by a significant margin, as the total value of the deals on which it acted as counsel rose by around three times year-on-year. During Q1–Q3 2026, it advised on nine billion-dollar deals*, which also included a very high-value transaction worth more than $100 billion. Its involvement in these high-value deals helped Kirkland & Ellis achieve a massive increase in value.”
Paul, Weiss, Rifkind, Wharton & Garrison ranked second in terms of value, having advised on deals worth $114.6 billion, followed by Vinson & Elkins with $108.1 billion, McGuireWoods with $102.5 billion, and Davis Polk & Wardwell with $41.9 billion.
Meanwhile, Gibson, DLA Piper ranked third in terms of volume with 23 deals, followed by Kirkland & Ellis with 22 deals, and CMS with 18 deals.
*Deals valued at $1 billion or more
