Total financial services industry cross border deals worth $5.8bn were announced globally for May 2021, with the $942.6m acquisition of Aon UK being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked a decrease of 2.8% over the previous month of $5.98bn and a drop of 23.8% when compared with the last 12-month average of $7.62bn.

In terms of number of cross border deals, the sector saw a rise of 8.33% with 91 deals in May 2021 when compared to the last 12-month average of 84 deals.

In value terms, Europe led the activity with cross border deals worth $2.49bn in May 2021.

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financial services industry cross border deals in May 2021: Top deals

The top five cross border deals accounted for 56.9% of the overall value during May 2021.

The combined value of the top five cross border deals stood at $3.31bn, against the overall value of $5.8bn recorded for the month.

The top five financial services industry cross border deals of May 2021 tracked by GlobalData were:

1) Berkshire Hathaway’s $942.6m acquisition of Aon UK

2) The $900m venture financing of Trade Republic Bank by Accel, Creandum Advisor, Founders Fund, Project A Services GmbHKG, Sequoia Capital Operations, TCMI and Thrive Capital Partners

3) Aubrey Drake Graham, Greylock Partners, iNovia Capital, Meritech Capital Partners, Michael J. Fox, Redpoint Ventures, Ryan Reynolds , Sagard, TCV and Two Sigma Ventures’ $610m venture financing of Wealthsimple

4) The $532.93m acquisition deal of SBI Life Insurance by Abu Dhabi Investment Authority, Franklin Templeton Asset Management (India), HDFC Mutual Fund, Kuwait Investment Authority, Norges Bank, SBI Mutual Fund and The Vanguard Group

5) Pendal Group’s acquisition deal with Siegel & Walmsley and Thompson for $320m.