US financial services industry saw a drop of 14.71% in overall deal activity during October 2021, when compared with the last 12-month average, led by T. Rowe Price Group’s $4.2bn acquisition of Oak Hill Advisors, according to GlobalData’s deals database.
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A total of 116 deals worth $7bn were announced in October 2021, compared with the 12-month average of 136 deals.
M&A was the leading category in the month in terms of volume with 63 deals, which accounted for 54.3% of all deals.
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By GlobalDataIn second place was venture financing with 41 deals, followed by private equity with 12 transactions, respectively accounting for 35.3% and 10.3% of overall deal activity in the US technology industry during the month.
In terms of value of deals, M&A was the leading deal category in the US financial services industry with total deals worth $4.95bn, while venture financing and private equity deals totalled $1.43bn and $618.25m respectively.
US financial services industry deals in October 2021: Top deals
The top five financial services industry deals accounted for 81.5% of the overall value during October 2021.
The combined value of the top five financial services deals stood at $5.7bn, against the overall value of $7bn recorded for the month.
The top five financial services industry deals of October 2021 tracked by GlobalData were:
1) T. Rowe Price Group $4.2bn acquisition deal with Oak Hill Advisors
2) The $750m acquisition of Fair Square Financial Holdings by Ally Financial
3) Activant Capital Group,General Atlantic,Moore Strategic Ventures,Soma Capital,Tribe Capital,Untitled Investments and Willoughby Capital Holdings $333m venture financing deal with Bolt Financial
4) The $210m private equity of Title Resources Guaranty by Centerbridge Partners
5) BlackRock,Dragoneer Investment Group,DST Global,Motive Partners,Phase 2 Partners,Point Break Capital Management,Senator Investment Group,Singapore Exchange,T Rowe Price Associates and TPG Capital $208m venture financing deal with TruMid Financial
