A Cautious Start, But Optimism Remains For H2

An encouraging rebound in dealmaking through February and March gave way to a more cautious Q2, as the closure of the Strait of Hormuz refocused investor attention on energy security, supply-chain resilience and resurgent inflation.

Total Asia M&A deal value reached US$347 billion across 8,164 transactions in the first half of 2026. Q1 recorded approximately US$183 billion across 4,317 transactions, with Q2 slowing to approximately US$164 billion across 3,847 transactions. 

We are seeing dealmaking become increasingly selective and concentrated in sectors with clear structural tailwinds, while sellers, particularly sponsors, are pursuing more inventive exit structures to attract buyer interest and unlock liquidity – as we discussed in our earlier article below.