UK financial services industry saw a drop of 19.05% in overall deal activity during February 2022, when compared with the last 12-month average, led by Canada Pension Plan Investment Board, La Caisse des Depots et placement du Quebec and Motive Partners’ $1.4bn private equity deal with FNZ UK, according to GlobalData’s deals database.

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A total of 34 deals worth $2.2bn were announced in February 2022, compared with the 12-month average of 42 deals.

venture financing was the leading category in the month in terms of volume with 17 deals, which accounted for 50% of all deals.

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In second place was M&A with 14 deals, followed by private equity with three transactions, respectively accounting for 41.2% and 8.8% of overall deal activity in the UK technology industry during the month.

In terms of value of deals, private equity was the leading deal category in the UK financial services industry with total deals worth $1.4bn, while M&A and venture financing deals totalled $421.03m and $359.2m respectively.

UK financial services industry deals in February 2022: Top deals

The top five financial services industry deals accounted for 90.2% of the overall value during February 2022.

The combined value of the top five financial services deals stood at $1.97bn, against the overall value of $2.2bn recorded for the month.

The top five financial services industry deals of February 2022 tracked by GlobalData were:

1) Canada Pension Plan Investment Board,La Caisse des Depots et placement du Quebec and Motive Partners $1.4bn private equity deal with FNZ UK

2) The $385.6m acquisition of Pollen Street Capital by Honeycomb Investments

3) Endeavor Catalyst,HubSpot Ventures,Jigsaw VC,Lightspeed Venture Partners – US and Sprints Capital Management $100m venture financing deal with Payhawk

4) The $50m venture financing of Pollination Capital Partners by Australia and New Zealand Banking Group

5) Mars Growth Capital $30m venture financing deal with TF Global Markets (UK)