The US financial services industry saw a rise of 17.9% in overall deal activity during April 2019, when compared with the last 12-month average, according to GlobalData’s deals database.
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A total of 125 deals worth $6.27bn were announced in April 2019, compared to the 12-month average of 106 deals.
M&A was the leading category in the month in terms of volume with 81 deals which accounted for 64.8% of all deals.
In second place was venture financing with 39 deals, followed by private equity with five transactions, respectively accounting for 31.2% and 4% of overall deal activity in the country’s financial services industry during the month.
In terms of value of deals, M&A was the leading deal category in the US financial services industry with total deals worth $3.47bn, while private equity and venture financing deals totalled $1.8bn and $998.08m, respectively.
US financial services industry deals in April 2019: Top deals
The top five financial services industry deals accounted for 82.9% of the overall value during April 2019.
The combined value of the top five financial services industry deals stood at $5.2bn, against the overall value of $6.27bn recorded for the month. The top announced US financial services industry deal tracked by GlobalData in April 2019 was Onex Partners V’s $1.8bn private equity deal with Convex Re.
In second place was the $1.2bn asset transaction with Wells Fargo by Principal Financial Group and in third place was American Family Insurance Group’s $1.05bn asset transaction with Ameriprise Financial.
The $850m acquisition of Axioma by Deutsche Borse and Ashton Kutcher, Baillie Gifford &, Fidelity Management & Research, Founders Fund, GIC, Lightspeed Venture Partners, Moore Asset Backed Fund, Ribbit Capital, Sound Ventures, Spark Capital, Thrive Capital and Wellington Management’s venture financing of Affirm for $300m held fourth and fifth positions, respectively.
This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.
GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.
More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.