The US financial services industry saw a drop of 5% in overall deal activity during December 2019, when compared with the last 12-month average, according to GlobalData’s deals database.
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A total of 115 deals worth $10.79bn were announced in December 2019, compared to the 12-month average of 121 deals.
M&A was the leading category in the month in terms of volume with 73 deals which accounted for 63.5% of all deals.
In second place was venture financing with 37 deals, followed by private equity with five transactions, respectively accounting for 32.2% and 4.4% 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 $9.71bn, while venture financing and private equity deals totalled $1.01bn and $70m, respectively.
US financial services industry deals in December 2019: Top deals
The top five financial services industry deals accounted for 91.8% of the overall value during December 2019.
The combined value of the top five financial services deals stood at $9.91bn, against the overall value of $10.79bn recorded for the month.
The top five financial services industry deals of December 2019 tracked by GlobalData were:
1) New York Life Insurance’s $6.3bn asset transaction with Cigna
2) The $1.25bn asset transaction with Voya Financial by Resolution Life Holdings
3) ‘s $1bn merger of Goldman Sachs BDC and Goldman Sachs Middle Market Lending
4) The $720m acquisition of IAS Parent Holdings by IA Financial Group
5) Bessemer Venture Partners, Cross Creek Advisors, Declaration Partners, Flare Capital Partners, Greenspring Associates, Meritech Capital Partners, New Enterprise Associates, Redpoint Ventures and Town Hall Ventures’ venture financing of Bright Health for $635m.
Verdict deals analysis methodology
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.