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."

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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."

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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.

ENDS

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Notes to Editors

* Quotes are provided by Aurojyoti Bose, Lead Analyst at GlobalData

* The information is based on GlobalData's Financial Deals Database

* This press release was written using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData's team of industry experts

Methodology for League Tables

GlobalData 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 from leading advisers, through an adviser submission forms on GlobalData, which allows both legal and financial advisers to submit their deal details.

For league tables, we have considered M&A including asset transactions, venture capital and private equity deals where advisors were involved.

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