Volatility is no longer sidelining dealmakers – it’s sharpening their focus. With capital in motion, regulatory complexity rising, and AI reshaping strategic priorities, companies are pursuing scale and transformation at pace. Evan Berta, an associate at Hunt Scanlon Ventures, explores what’s driving the renewed momentum, and the true value that leadership brings to M&A success.
Global M&A deal activity is moving forward with renewed intensity, even as markets absorb inflation, trade friction, and geopolitical instability.
J.P. Morgan’s 2025 Global M&A Mid-Year Outlook points to a landscape shaped less by caution and more by creativity. Volume is up, megadeals are back, and cross-border transactions are accelerating.
“M&A and capital markets have been remarkably resilient in the face of significant macroeconomic, geopolitical and policy volatility,” the J.P. Morgan report noted.
“Consistent, profitable growth at scale has been rewarded with premium valuations, driving companies to continue to pursue M&A,” it said. “In this market, more nuanced dealmaking demands creativity, courage and conviction.”
“As cross-border and multi-sector deals increase, clients are rethinking what qualifies as executive readiness. It’s not just industry expertise, they want leaders who can operate across systems, languages, and regulatory zones.”
M&A Volume Up 10%
M&A volume reached $2.2 trillion in the first half of 2025, a 10% increase year-over-year, with 57% more megadeals over $10 billion and 72% of all volume concentrated in $1B+ transactions. Asia-Pacific saw a 92% surge in activity, and cross-border deals rose 24%, indicating that dealmakers are pushing forward despite regulatory hurdles.
Seven of nine sectors posted double-digit growth, led by technology (+42%), diversified industries (+41%), and financial institutions (+56%). Private equity and strategics alike are pursuing creative structures, including take-privates and minority stake sales, to unlock value in a fragmented market.
Talent Implication
“As cross-border and multi-sector deals increase, clients are rethinking what qualifies as executive readiness,” said Evan Berta, an associate at Hunt Scanlon Ventures. “It’s not just industry expertise, they want leaders who can operate across systems, languages, and regulatory zones.”
This wave of large-scale and global deal activity is creating demand for talent with both operational depth and geopolitical fluency.
Human capital firms, said Mr. Berta, should surface leaders who can integrate quickly, scale strategically, and build trust across multiple jurisdictions.
Search Firms Getting Tapped Sooner
J.P. Morgan emphasized that deal execution now requires a more tailored approach.
“As companies look to navigate today’s fragmented global environment, creative and tailored approaches to risk allocation, regulatory planning, valuation differentials and access to financing are increasingly necessary,” it said.
Sponsors remain aggressive, but execution risk, especially around national interest laws and antitrust reviews, is reshaping the pace and style of M&A.
This backdrop is prompting earlier engagement from talent partners. Search firms are being tapped ahead of close to assess leadership teams, stabilize key roles, and help outline succession or integration plans for post-deal execution.
Talent Implication
“When PE activity accelerates, leadership turnover accelerates with it,” said Mr. Berta. “Search firms are being brought in earlier, sometimes before the deal closes, to assess, stabilize, or upgrade leadership teams.”
“When PE activity accelerates, leadership turnover accelerates with it. Search firms are being brought in earlier, sometimes before the deal closes, to assess, stabilize, or upgrade leadership teams.”
The need for regulatory-savvy leaders is rising, particularly in sectors like tech, defense, and infrastructure.
Executive search firms are now supporting clients not just with executive placements, but with board and compliance roles as companies work to mitigate reputational and regulatory risk early in the process.
AI, Infrastructure & the New Leadership Premium
Looking ahead, J.P. Morgan sees continued momentum through the rest of 2025, especially around themes like AI, platform consolidation, and supply chain realignment.
AI investment alone has reached $1.4 trillion, with demand for data center infrastructure and digital capabilities reshaping M&A strategies across tech, real estate, and energy.
“Firms with scale and steady growth are trading at a premium,” the report noted. Companies that demonstrate clear digital advantage and operational leverage are emerging as favored targets across nearly every region and sector.
Talent Implication
“The AI investment wave is rewriting the playbook on what future-ready leadership looks like,” Mr. Berta said. “It’s not enough to know your sector, you need to know how AI is changing it.”
“The AI investment wave is rewriting the playbook on what future-ready leadership looks like. It’s not enough to know your sector, you need to know how AI is changing it.”
Executives who can bridge innovation and execution, he said, are in high demand. That includes leaders who can manage data infrastructure, oversee transformation, and embed AI into workflows without derailing performance. “For human capital partners, evaluating that capability has become a core part of the search mandate,” he said.
Article By
Evan Berta
Evan Berta is an Associate at Hunt Scanlon Ventures, specializing in data analysis, market mapping, and target list preparation. He plays a critical role in identifying and building out groups of firms in sectors of interest, including preparing strategic overviews of top potential targets for acquisitions. Evan’s analytical expertise supports the firm’s sourcing initiatives, particularly in identifying niche and emerging market opportunities, and delivering actionable insights on tight timelines.
