-
2 weeks ago | 
gfmag.com | Andrea Murad |John Njiraini |Lyndsey Zhang |Thomas Monteiro
Persistent inflation and volatile interest rates defined much of the M&A landscape in 2024, dampening buy-side confidence even as activity gained momentum. By year’s end, global deal value had climbed 16% to surpass $3.4 trillion, according to Dealogic. But as macroeconomic pressures began to ease, fresh geopolitical tensions and a looming global trade war emerged, threatening hopes for a 2025 rebound. Early indicators suggest dealmakers face another turbulent year ahead.
-
2 weeks ago | 
gfmag.com | Andrea Murad |Thomas Monteiro |Lyndsey Zhang |John Njiraini
Debt capital markets enjoyed a 36% surge in total deal volume in 2024 compared to 2023, according to Dealogic. The US touted a 45% increase. Asia-Pacific (50%), Africa and the Middle East (57%), and Latin America (66%) did even better; and Europe posted a 19% gain. Japan was the only major market to decline, by 3%. Underwriter revenue from global Debt Capital Markets (DCM) reached $27.3 billion.
-
2 weeks ago | 
gfmag.com | Andrea Murad |Thomas Monteiro |John Njiraini |Lyndsey Zhang
Throughout 2024, the infrastructure sector was highly active for investment bankers, with robust deal flow across renewable energy, digital transformation, and critical infrastructure projects. Major banks like Absa Bank, ICBC, OTP Bank, Bradesco BBI, J.P. Morgan, and Intesa Sanpaolo participated in significant deals globally, highlighting strong demand for financing in sustainable and strategic infrastructure investments.
-
2 weeks ago | 
gfmag.com | Andrea Murad |Thomas Monteiro |Lyndsey Zhang |John Njiraini
Following two years of sticky inflation, exorbitant interest rates, and geopolitical tensions, worldwide equity issuance volume surged to $741 billion in 2024. That’s up 20% from the previous year. Global inflation eased and major central banks began to cut interest rates: encouraging developments for equity issuers and investors. As a result, 2024 was the strongest year for equity capital markets (ECM) in the past four, according to Dealogic.
-
2 weeks ago | 
gfmag.com | Thomas Monteiro |Lyndsey Zhang |John Njiraini |Andrea Murad
The global mergers and acquistions (M&A) market might not have fulfilled every dealmaker’s fantasy of a roaring comeback in 2024. Still, every major region posted double-digit gains despite being tossed about by waves of geopolitical uncertainty. Among the largest deals that were announced: Capital One Financial Corporation’s $35.3 billion purchase of Discover Financial Services, Synopsys’ $35 billion takeover of Ansys, and Mars’ $35.9 billion acquisition of Kellanova.
-
2 weeks ago | 
gfmag.com | Andrea Murad |Thomas Monteiro |John Njiraini |Lyndsey Zhang
The top three sectors when it comes to dealmaking, according to McKinsey, are global energy and materials (GEM); telecom, media, and technology (TMT); and financial services. “You saw some big [TMT] deals in the US, but also here in Europe,” McKinsey’s Mieke Van Oostende, a senior partner in Brussels and co-leader of the consultancy’s global M&A practice, tells Global Finance.
-
2 weeks ago | 
gfmag.com | Thomas Monteiro |Lyndsey Zhang |Andrea Murad |John Njiraini
Against the backdrop of a thriving year for global stock markets and increased activity in the debt spectrum, Bank of America (BofA) Securities managed to catapult its global operations to capture an impressive 43% year-over-year jump in investment banking fees as of the fourth quarter of 2024.
-
Apr 2, 2024 | 
gfmag.com | Thomas Monteiro |Lyndsey Zhang |John Njiraini |David Sanders
What pandemic recession? Despite lingering above-average inflation, still-restrictive central bank policies, and political crises in multiple parts of the world, global debt capital markets registered another robust year in 2023. They are increasingly coming to resemble their condition before Covid-19 hit. Total global debt capital market activity improved slightly last year, hitting $8.9 trillion for the full year. That’s up 6% compared to 2022, according to Refinitiv.
-
Apr 2, 2024 | 
gfmag.com | John Njiraini |David Sanders |Lyndsey Zhang |Thomas Monteiro
For the second consecutive year, M&A activity felt the blow from tighter financial conditions and rising debt-financing costs. As a result, global deal-making volume was down 25% in 2023, according to Dealogic data. Among the regions that were hit hardest were the Middle East, which was down 43% year over year; Asia (excluding Japan), down 36% year over year; and Europe, down 37% year over year.
-
Apr 2, 2024 | 
gfmag.com | Lyndsey Zhang |Thomas Monteiro |David Sanders |John Njiraini
With inflationary pressure subsiding and central banks worldwide pausing the cycle of aggressive rate hikes while managing to avoid a global economic recession, the bias appears to be toward interest rate cuts. Investment bankers expect continued economic growth this year, with the International Monetary Fund (IMF) forecasting global GDP expansion of 3.1%, including 1.5% for advanced economies overall, 2.1% for the US, and 4.1% for emerging markets and developing economies.
