The UK financial services industry saw a drop of 0.9% in overall deal activity during Q3 2020, when compared with the last four-quarter average, according to GlobalData’s deals database.

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A total of 109 deals worth $7.93bn were announced in Q3 2020, compared to the last four-quarter average of 108 deals.

M&A was the leading category in the quarter with 68 deals which accounted for 62.4% of all deals.

In second place was venture financing with 29 deals, followed by private equity with 12 transactions, respectively accounting for 26.6% and 11.01% of overall deal activity in the country’s financial services industry during the quarter.

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In terms of value of deals, M&A was the leading deal category in the UK financial services industry with total deals worth $3.83bn, while private equity and venture financing deals totalled $3.81bn and $296.08m, respectively.

The UK financial services industry deals in Q3 2020: Top deals

The top five financial services deals accounted for 82.7% of the overall value during Q3 2020.

The combined value of the top five financial services deals stood at $6.56bn, against the overall value of $7.93bn recorded for the month.

The top five financial services industry deals of Q3 2020 tracked by GlobalData were:

1) GIC and Massachusetts Mutual Life Insurance’s $2.66bn private equity deal with Rothesay Life

2) The $2.14bn acquisition of Hastings Group by Rand Merchant Investment Holdings and Sampo

3) The $687.89m merger of Honeycomb Investment Trust and Pollen Street Secured Lending

4) The $570m acquisition of Permira Holdings by Petershill Private Equity

5) Blackstone Tactical Opportunities Advisors and Fairfax Financial Holdings’ private equity deal with Brit Group Services for $500m.

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.