Led by $1.07bn private equity deal with AMP, Australia’s financial services industry saw a drop of 9.57% in overall deal activity during Q1 2021, when compared with the last four-quarter average, according to GlobalData’s deals database.

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A total of 26 deals worth $1.9bn were announced in Q1 2021, compared with the last four-quarter average of 28.75 deals.

M&A was the leading category in the quarter with 20 deals which accounted for 76.9% of all deals.

In second place was venture financing with four deals, followed by private equity with two transactions, respectively accounting for 15.4% and 7.7% of overall deal activity in the Australia’s financial services industry during the quarter.

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In terms of value of deals, private equity was the leading deal category in Australia’s financial services industry with total deals worth $1.07bn, while M&A and venture financing deals totalled $685.05m and $141.38m respectively.

Australia financial services industry deals in Q1 2021: Top deals

The top five financial services industry deals accounted for 78.7% of the overall value during Q1 2021.

The combined value of the top five financial services deals stood at $1.49bn, against the overall value of $1.9bn recorded for the quarter.

The top five financial services industry deals of Q1 2021 tracked by GlobalData were:

1) Ares Management’s $1.07bn private equity deal with AMP

2) The $230.65m acquisition of Latitude Financial Services Australia Holdings by Shinsei Bank

3) ANZi Ventures, Greenoaks Capital Management, Grok Ventures and Skip Capital’s $100m acquisition of Airwallex

4) The $80.52m venture financing deal with Shimao Aoya Holding by Comic Eagle

5) Alceon Group and Carthona Capital FS’s acquisition of Deferit for $11.55m.