What’s happening 9,966 miles away?
As we head towards end of Q1 - some key takeaways from the US market on our monthly call with JMES Partner Ali Roger and JL Partner Frick Jones
2026 Year of the Fire Horse
🌐High level observations🌐
- Clear that the Iran conflict is delivering immediate knock on effects across the global hiring landscape and we suspect some of the "must have hires" to change to "nice to have hires" in the weeks ahead as a result
- US + Australian markets have seen a busy start to the calendar year across both buy and sell side, greater volume of hires versus previous years at this time of year
- Still plenty of capital available to deploy – but the amount of opportunities not matching
🌐Investment Banking🌐
- Typical 3-5 year market cycle and given last boom was seen in 2021 we're nearing the end of the cycle and expect some volatility
- Sponsor coverage remains core focus in the US and has been a busy Q1 to date but will see how things hold in the weeks ahead given the Middle East environment
- Healthcare, Technology, and Real Estate have continued to have strong commitment to growing teams
🌐Alternative Investments🌐
- Feels reminiscent of post "Liberation Day" in 2025 when the global uncertainty led to an inability to control valuations and saw mismatch in price expectation
- Private Capital LP [Limited Partner] community increasingly impatient over the lack of liquidity - sense the secondary vehicles seen more as a band aid than a longer term solution
- Private Credit, Energy Transition and Real Asset Investing continues to dominate focus for Banks, Advisors, and Investors
Want to know more? Contact Ali on aroger@jmes.com.au
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