Data sourced from Dakota Private Markets, the private fund performance platform powered by Dakota. Learn More | Request Access
Private markets advisory activity pulled back sharply at the top of the table in August 2026 after July's surge. The top-ranked banks collectively advised on 133 announced transactions during the month, down from 184 in July. Dakota Private Markets tracks investment bank advisor activity across every private market transaction in real time.
Goldman Sachs held the top spot for a third straight month despite a steep pullback in count, while Barclays posted the sharpest move on the table, climbing from 10th to a tie for 3rd. Houlihan Lokey held flat, and Piper Sandler returned to the rankings after dropping out in July.
August 2026 Rankings
|
Investment Bank
|
Aug Rank
|
Aug Deal Count
|
Jul Rank
|
Jul Deal Count
|
% Change
|
|
Goldman Sachs
|
1
|
19
|
1
|
25
|
-24.0%
|
|
Houlihan Lokey
|
2
|
17
|
6
|
17
|
0.0%
|
|
BofA Securities
|
3
|
16
|
4
|
19
|
-15.8%
|
|
Barclays
|
3
|
16
|
10
|
11
|
+45.5%
|
|
J.P. Morgan
|
5
|
15
|
3
|
21
|
-28.6%
|
|
Jefferies
|
5
|
15
|
2
|
22
|
-31.8%
|
|
RBC Capital Markets
|
7
|
11
|
7
|
15
|
-26.7%
|
|
William Blair
|
8
|
8
|
10
|
11
|
-27.3%
|
|
Harris Williams
|
8
|
8
|
-
|
-
|
New Entry
|
|
Piper Sandler
|
8
|
8
|
-
|
-
|
Re-Entry
|
Rankings reflect announced private market transactions where the firm served as financial advisor. Ties are shown at the same rank; a tie at 8th extends the table to 10 firms this month.
At the Top: Goldman Sachs Holds Despite Pullback, Barclays Surges
Goldman Sachs held the top spot for a third straight month with 19 deals, a 24.0% decline from 25 in July. Even with the drop, the firm kept clear water between itself and the rest of the table.
Houlihan Lokey held 2nd with 17 deals, unchanged from July, climbing from 6th as other firms around it declined.
BofA Securities and Barclays tied for 3rd with 16 deals each. BofA Securities fell 15.8% from 19 deals in July, while Barclays posted the sharpest move on the table, climbing from 10th on a 45.5% increase, up from 11 deals in July.
J.P. Morgan and Jefferies tied for 5th with 15 deals each. J.P. Morgan fell 28.6% from 21 deals in July, dropping from 3rd, while Jefferies fell 31.8% from 22 deals, dropping from 2nd.
The Middle of the Table
RBC Capital Markets held 7th with 11 deals, down 26.7% from 15 in July. William Blair, a new entrant in July, saw its count decline 27.3% to 8 deals, tying for 8th.
Harris Williams and Piper Sandler also tied at 8th with 8 deals each. Harris Williams is a new entrant to the top 10, while Piper Sandler returns after falling out of the rankings in July.
Movement Out of the Top 10
Three firms from July's top 10 dropped out of the August rankings:
- Citi (tied 4th in July, 19 deals) posted 7 deals in August, falling well outside the top 10.
- Guggenheim Securities (tied 8th in July, 12 deals) posted 7 deals in August.
- BMO Capital Markets (tied 8th in July, 12 deals) posted just 5 deals in August, the sharpest drop of any July top-10 firm.
What to Watch in September
August's advisory activity pulled back hard from July's highs, with the tracked top-10 banks combining for 133 deals, down from 184 the prior month. The standout move was Barclays' jump from 10th to a tie for 3rd, while three July top-10 firms (Citi, Guggenheim Securities, and BMO Capital Markets) dropped out entirely. With Goldman Sachs's count down nearly a quarter and several firms clustered tightly through the middle of the table, September's rankings could see further reshuffling.
Dakota Private Markets tracks global private market transactions in real time, capturing the investment banks advising on both sides of every deal. To explore the full data, request access to Dakota Private Markets.
