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Private markets advisory activity picked up in June 2026, with deal counts rising across the top of the table and several large strategic transactions driving headline activity. The top ten banks collectively advised on 138 announced transactions during the month, up from 113 in May. Dakota tracks investment bank advisor activity across every private market transaction in real time. Book a demo of Dakota Marketplace to see the full data behind these rankings.
The biggest structural shift was the arrival of Jefferies, which entered the rankings at 2nd place with 22 deals after not appearing in May's top 10. Three firms from May's top 10 dropped out of the June rankings.
June 2026 Rankings
|
Investment Bank
|
June Rank
|
June Deal Count
|
May Rank
|
May Deal Count
|
% Change
|
|
Goldman Sachs
|
1
|
25
|
1
|
19
|
+31.6%
|
|
Jefferies
|
2
|
22
|
-
|
-
|
New Entry
|
|
Piper Sandler
|
3
|
13
|
8
|
9
|
+44.4%
|
|
BofA Securities
|
4
|
13
|
2
|
17
|
-23.5%
|
|
Centerview Partners
|
5
|
11
|
5
|
10
|
+10.0%
|
|
Houlihan Lokey
|
6
|
10
|
3
|
13
|
-23.1%
|
|
Citi
|
7
|
10
|
9
|
8
|
+25.0%
|
|
BMO Capital Markets
|
8
|
9
|
-
|
-
|
New Entry
|
|
J.P. Morgan
|
9
|
9
|
4
|
12
|
-25.0%
|
|
Guggenheim Securities
|
10
|
8
|
10
|
7
|
+14.3%
|
At the Top: Goldman Extends Its Lead
Goldman Sachs held the top spot with 25 deals, a 31.6% increase from 19 in May. The firm's lead over second place widened from two deals in May to three in June. Goldman also served as financial advisor on two of the month's three largest transactions, advising Martin Marietta on the $13.5 billion Lhoist North America acquisition and advising Apogee Therapeutics on the $10.9 billion sale to AbbVie.
Jefferies entered the top 10 at 2nd place with 22 deals, the strongest debut on the table during the month. Jefferies advised on two of the month's three largest transactions as well, serving as financial advisor to both Apogee Therapeutics ($10.9 billion) and Nuvalent ($10.6 billion), both on the sell side.
Piper Sandler climbed five rank positions from 8th to a tie for 3rd with 13 deals, a 44.4% increase from 9 in May.
The Middle of the Table
BofA Securities fell from 2nd to a tie for 3rd with 13 deals, a 23.5% decline from 17 in May. Centerview Partners held at 5th with 11 deals, up 10.0% from 10 in May, and continued to win mandates on high-value transactions, serving as financial advisor to Nuvalent on its $10.6 billion sale to GSK.
Houlihan Lokey fell from 3rd to 6th with 10 deals, down 23.1% from 13 in May, tying with Citi, which climbed from 9th to 6th with a 25.0% increase, from 8 to 10 deals.
BMO Capital Markets entered the rankings at 8th with 9 deals. J.P. Morgan fell from 4th to 8th with 9 deals, a 25.0% decline from 12 in May. Guggenheim Securities held at 10th with 8 deals, up 14.3% from 7 in May.
Three firms from May's top 10 dropped out of the June rankings: Barclays (6th in May), RBC Capital Markets (7th in May), and Guggenheim Investment Banking (10th in May). Piper Sandler was the only firm in the bottom half of May's table to move up in June rather than out of the rankings.
The Month's Biggest Deals
Martin Marietta / Lhoist North America, $13.5 billion A strategic acquisition expanding Martin Marietta's lime and industrial minerals business across North America.
- Buyer: Martin Marietta Materials
- Seller: Lhoist Group
- Buyer Financial Advisor: Goldman Sachs
- Seller Financial Advisors: BNP Paribas, J.P. Morgan, Rothschild & Co
AbbVie / Apogee Therapeutics, $10.9 billion A strategic acquisition deepening AbbVie's immunology portfolio with Apogee's pipeline of clinical-stage biologics for inflammatory and immunological diseases.
- Buyer: AbbVie
- Seller: Apogee Therapeutics
- Buyer Financial Advisor: Morgan Stanley
- Seller Financial Advisors: Jefferies, Goldman Sachs
GSK / Nuvalent, $10.6 billion A strategic acquisition adding two late-stage lung cancer therapies under FDA review to GSK's oncology pipeline.
- Buyer: GSK
- Seller: Nuvalent
- Buyer Financial Advisors: Leerink Partners, Citi
- Seller Financial Advisors: Centerview Partners, Jefferies
What to Watch in July
June's advisory activity reflects a broad pickup from May, with total deal count among the top 10 rising 22% month-over-month. Goldman Sachs maintained its lead and grew deal count by 31.6%. Jefferies' entry at 2nd place was the month's most notable change, driven in part by sell-side mandates on two of the three largest transactions. All three of the month's biggest deals were strategic acquirers in healthcare and industrial sectors, and all three involved sell-side advisory mandates from firms ranked in the top 10.
Dakota tracks global private market transactions in real time, capturing deal size, sector, investors, and the investment banks advising both sides of every transaction. To explore the full data, schedule a demo of Dakota Marketplace.
