Asia-Pacific’s financial services industry saw a drop of 18.75% in cross border deal activity during January 2022, when compared with the last 12-month average, led by IGM Financial’s $903.58m acquisition of 13.9% stake in China Asset Management, according to GlobalData’s deals database.

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A total of 26 financial services industry cross border deals worth $2.1bn were announced for the region in January 2022, against the 12-month average of 32 deals.

Of all the deal types, venture financing saw most activity in January 2022 with 16 transactions, representing a 61.5% share for the region.

In second place was M&A with seven deals, followed by private equity deals with three transactions, respectively capturing a 26.9% and 11.5% share of the overall cross border deal activity for the month.

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In terms of value of cross border deals, M&A was the leading category in Asia-Pacific’s financial services industry with $949.85m, while private equity and venture financing deals totalled $620.68m and $547.61m, respectively.

Asia-Pacific financial services industry cross border deals in January 2022: Top deals

The top five financial services cross border deals accounted for 88.2% of the overall value during January 2022.

The combined value of the top five financial services cross border deals stood at $1.87bn, against the overall value of $2.1bn recorded for the month.

The top five financial services industry cross border deals of January 2022 tracked by GlobalData were:

1) IGM Financial $903.58m acquisition deal for 13.9% stake in China Asset Management

2) The $618.88m private equity of Affin Hwang Asset Management by CVC Capital Partners Asia Fund V

3) Huatai Securities and ORIX $200m venture financing deal with FWD Group Management

4) The $75m venture financing of Finzoom Investment Advisors by Dragoneer Investment Group,Steadview Capital and Tiger Global Management

5) Ithan Creek Master Investors and Wellington Hadley Harbor $70m venture financing deal with Go Digit General Insurance