GlobalData has announced the latest Financial and Legal Adviser League Tables, which rank advisers by the total value and volume of merger and acquisition (M&A) deals they advised on in the power sector during Q1-Q3 2025. See the rankings and findings below.
Financial Advisers
JP Morgan and Rothschild & Co top M&A financial advisers in power sector during Q1-Q3 2025
JP Morgan and Rothschild & Co were the top mergers and acquisitions (M&A) financial advisers in the power sector during the first three quarters (Q1-Q3) of 2025 by value and volume, respectively, according to the latest financial advisers league table by GlobalData, a leading data and analytics company.
An analysis of GlobalData’s Financial Deals Database reveals that JP Morgan achieved the leading position in terms of value by advising on $53.5 billion worth of deals. Meanwhile, Rothschild & Co led in terms of volume by advising on a total of 17 deals.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “JP Morgan and Rothschild & Co were the top advisers by value and volume, respectively, during Q1-Q3 2024 as well. While the total number of deals advised by Rothschild & Co remained relatively stable during Q1-Q3 2025 compared to Q1-Q3 2024, JP Morgan registered more than a three-fold year-on-year jump in the total value of deals advised by it during the reporting period.
“Eight of the 13 deals advised by JP Morgan during Q1-Q3 2025 were billion-dollar deals*, which also included three mega deals valued more than $10 billion. The involvement in these big-ticket deals helped JP Morgan register a massive jump in terms of value."
Lazard occupied the second position in terms of value, by advising on $39.2 billion worth of deals, followed by Goldman Sachs with $38.7 billion, Morgan Stanley with $34.7 billion and Evercore with $33.9 billion.
Meanwhile, Lazard occupied the second position in terms of volume with 14 deals, followed by JP Morgan with 13 deals, Ernst & Young with 13 deals and Nomura with 12 deals.
*Value ≥ $1 billion
Legal Advisers
White & Case and Kirkland & Ellis top M&A legal advisers in power sector during Q1-Q3 2025
White & Case and Kirkland & Ellis were the top mergers and acquisitions (M&A) legal advisers in the power sector during the first three quarters (Q1-Q3) of 2025 by value and volume, respectively, according to the latest legal advisers league table by GlobalData, a leading data and analytics company.
An analysis of GlobalData’s Financial Deals Database reveals that White & Case achieved the leading position in terms of value by advising on $45.7 billion worth of deals. Meanwhile, Kirkland & Ellis led in terms of volume by advising on a total of 26 deals.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Interestingly, there are many similarities between the performance of White & Case and Kirkland & Ellis. Apart from leading by value, White & Case occupied the second position by volume during Q1-Q3 2025. Similarly, Kirkland & Ellis, apart from leading by volume, occupied the second position by value during the same period.
“Both the law firms registered year-on-year improvement in terms of deal volume and value, and subsequently improvement in their respective ranking by these metrics. They were also involved in several big-ticket deals during Q1-Q3 2025 and in some cases, they even advised on the same high-value deal. For instance, both Kirkland & Ellis and White & Case advised on $16.4 billion deal for the acquisition of Calpine by Constellation Energy.”
Kirkland & Ellis occupied the second position in terms of value, by advising on $45.3 billion worth of deals, followed by Gibson, Dunn & Crutcher with $35.7 billion, Latham & Watkins with $24 billion, and Debevoise & Plimpton and Fried, Frank, Harris, Shriver & Jacobson jointly occupying the fifth position with each advising on a deal worth $16.4 billion.
Meanwhile, White & Case occupied the second position in terms of volume with 23 deals, followed by CMS with 23 deals, Latham & Watkins with 21 deals and Dentons with 19 deals.
