predicts corporate M&A activity will increase 20% in 2024, while private equity deals will rise 16% despite high interest rates. EY Strategy and Transactions, Americas Vice Chair Mitch Berlin breaks down why, highlighting the"need to transact to transform" in order to stay ahead of the competition. He also notes that given how differently the two candidates view M&A, the 2024 presidential election could factor into some deal decisions.
There's even a Texas Stock exchange on the docket, we'll discuss what's driving the migration later on this hour. So particularly if you look at life sciences, they have M and A patents that are coming to exploration, they need to increase their or I'm sorry, they have um they have patents that are expiring.And so they're looking to increase that through M and A, you have capacity expansion.And then tech is the largest, the largest sector that's doing transactions a year over year and this year is no exception.
It's hard to determine whether that has to do with the election or just the normal M and A cycles where it's a little bit slower in the fourth quarter of the year. Is that something that um clients that folks you're talking to are taking into account, whether they even decide whether they pursue a deal in the first place.Well, we, we certainly talk about it with their clients truly, but what they're doing, it's not, it's not scaring them away from doing deals, but I think they're more cautious in how they're doing deals.
Coming up on Texas migration on asking for one state has been catching the eye of several corporate corporations.And so if you look at this from 2018 to 2023 according to CBRE, they look nationwide at the number at the cities and the number of corporate headquarters that they were attracting.It saw a huge boom in real estate that now is seeing a little bit of fallout Dallas as well in Houston.
Well, it's interesting, you know, I, I thought it was a bit surprising to see the reports that Blackrock was one of the companies that was backing this, considering, uh, they've come under fire from certain pension funds, for example, in Texas who see them as their, and their ESG agenda of the past as being somewhat quote unquote woke.
I mean, remember like when Facebook went public, there was a huge battle over which exchange would get the IP O so maybe we have some big energy um IP OS in the future and maybe one of them says we'll give it a shot with the Texas exchange because we think that they're in our neighborhood and they have what we need.
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