Women are earning more, increasingly leading businesses, while shaping M&A markets and the economy.
With International Women’s Day today (8 March), Mining.com.au is celebrating the women helping shape strategic decisions and bringing fresh perspectives to traditionally male-dominated boardrooms.
Recent Deloitte Insights research into gender equity in leadership roles in financial services institutions globally shows that Oceania is leading in regard to the proportion of women in financial services leadership roles.
Forecasting reveals that the current 25.2% share of women in C-suite roles is projected to grow to 34% by 2030 – higher than any other region. Similarly, women in next generation roles is expected to reach almost 37% by 2030, indicating an increased pipeline of women in financial services.
While Saxo’s Chief Investment Strategist Charu Chanana says when it comes to making investments themselves many women still lag behind or are sitting on the sidelines, she makes a pertinent point: “Investing isn’t just for Wall Street bros.”
Indeed this is the case whether it’s investing in stocks or advising on M&A transactions and corporate investments, according to Ansarada’s 2025 M&A outlook report Women in Dealmaking. The report highlights how women continue to influence the domestic M&A market, which is showing strong signs of a more buoyant period ahead in 2025, with plenty of deals announced in early 2025 already.
Generally, capital markets tend to be somewhat quiet in January in Australia and New Zealand so this hive of activity is considered unusual.
As Mining.com.au reported early February, data from the Ansarada Deal Platform across the Energy, Utilities, Materials and Industrials (EUMI) sector suggests M&A is poised to be a hive of activity this year and beyond.
After muted deal flow for several years amid high interest rates and inflation, there is a widely-held view among dealmakers that the M&A landscape in Australia and New Zealand in 2025 is ramping up.
There was universal agreement among the 12 women Ansarada cites in its latest Women in Dealmaking report that private equity firms in particular will play a major role in the reinvigoration of the deal landscape. PE firms have significant dry powder to deploy in both platform investments and exits.
Women working in the markets
Ansarada’s report reflects on the experiences of women working in the markets – a traditionally male-dominated area. Themes that emerge is a passion for the field, love of their jobs, and consensus that a career in dealmaking while rewarding, is also challenging and engaging.
All agree that working conditions have become much more accommodative of the different roles and responsibilities women in the fast-paced, high-pressure world of M&A are required to manage.
Citing comments from Holly Stiles, Partner, National Head of Corporate Finance, Grant Thornton Australia, a more promising M&A outlook is supported by a stabilising economic landscape, following years of high interest rates and inflation.
In Australia, the introduction of new M&A laws, including mandatory notification requirements, might lengthen transaction timeframes and increase costs when they come in in 2026, but at the same time could spur activity in the near-term.
Stiles notes the new regime represents a significant change and requires notifications for mergers that meet specific monetary thresholds and prohibits these mergers to complete without Australian Competition and Consumer Commission (ACCC) approval.
As such, she expects to see a surge as businesses aim to complete deals before the new regulations come into effect on 1 January 2026.
“We expect 2025 to be a robust year for M&A. The last quarter of 2024 saw a notable increase in inquiries and preliminary discussions, which should translate into completed deals as the year progresses,” Stiles is cited as saying.
Stiles notes that private equity is also poised to play a significant role in this surge of activity. Over the past few years, while PE firms have been active in executing bolt-on acquisitions for existing portfolio companies, new platform deals have been less frequent.
“With substantial funds ready to be deployed and more stable conditions, we see a rise in both platform investments and exits by private equity firms in 2025,” she adds.
Infrastructure investment
Dealmaking in the Energy, Utilities, Materials and Industrials (EUMI) sector is now ticking along after transactions were faltering in some jurisdictions since the start of the 2020s. Deal activity fell across the board during the three months ending 30 June 2024, with an 11% decline in energy activity and a 25% contraction in deals within the materials sector, as reported by Mining.com.au.
However, infrastructure investment – particularly in digital infrastructure and to support the energy transition – continues to be a major M&A focus, with the need for private capital investment in these areas to meet unmet needs and support long-term asset growth.
Katie Klosterman, Co-Head Financial Institutions Group, Managing Director at UBS Investment Bank, says UBS is more bullish this year about the local deal market amid this backdrop.
“We’ve had much more momentum of deal activity coming into this year. There was a fair amount of asset management activity in the back half of last year and I expect that will continue. There’s significant interest in alternative asset managers and private credit,” Ansarada’s report cites her as saying.
“At the same time, you’ve seen some traditional asset managers struggling with outflows and fee compression. Those two things make it ripe for M&A to diversify business models and provide continued growth in the alternative space.
“On the wealth side, we’re seeing growth particularly in the high-net-worth segment, along with large amounts of superannuation assets flipping from accumulation into retirement phase. In the advisory space, you have this hole left by the Royal Commission. So again, a demand and supply imbalance. My hope is companies look to M&A to address those needs.”
Amid this backdrop, the 12 leading women dealmakers agree that regionalisation of infrastructure assets is expected in 2025, with global investors taking positions in Australian and New Zealand companies and helping them grow across Asia-Pacific.
Cross-border M&A activity is also projected to increase. Australia and New Zealand remain attractive regions due to their strong economic performance and stable political environment.
Yet the women dealmakers caution that uncertainty around the timing and quantum of rate cuts, the effects the Trump administration will have on the global economy, and broader geopolitical situations will all factor in on how deals play out in the year ahead.
Write to Adam Orlando at Mining.com.au
Images: Mining.com.au, Ansarada & Stock
