Asia-Pacific’s financial services industry saw a drop of 37.31% in deal activity during January 2021, when compared with the last 12-month average, led by Shanghai Fengquanyu Enterprise Management’s $364.06m acquisition of Minsheng Securities, according to GlobalData’s deals database.

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A total of 42 financial services industry deals worth $1.24bn were announced for the region in January 2021, against the 12-month average of 67 deals.

Of all the deal types, M&A saw most activity in January 2021 with 23 transactions, representing a 54.8% share for the region.

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In second place was venture financing with 17 deals, followed by private equity deals with two transactions, respectively capturing a 40.5% and 4.8% share of the overall deal activity for the month.

In terms of value of deals, M&A was the leading category in Asia-Pacific’s financial services industry with $481.87m, while venture financing and private equity deals totalled $478.03m and $284.38m, respectively.

Asia-Pacific financial services industry deals in January 2021: Top deals

The top five financial services deals accounted for 84.3% of the overall value during January 2021.

The combined value of the top five financial services deals stood at $1.05bn, against the overall value of $1.24bn recorded for the month.

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

1) Shanghai Fengquanyu Enterprise Management’s $364.06m acquisition of Minsheng Securities

2) The $300m venture financing deal with Grab Financial Group by Hanwha Asset Management

3) ASP Philippines’ $175m private equity deal with Globe Fintech Innovations

4) The $109.38m private equity deal with Zhuhai Huajin Capital by Zhuhai Huafa Entity Industry Investment Holdings

5) Affirma Capital, Goodwater Capital, Kora Management, Macquarie Capital (USA), Tybourne Capital Management (HK) and Warburg Pincus’ venture financing of M_Service for $100m.