In the US financial services industry, there were 33 private equity deals announced in Q1 2024, worth a total value of $16.8bn, according to GlobalData’s Deals Database. The $15.5bn institutional buy-out (ibo) Truist Insurance Holdings by Dubilier & Rice, Clayton, Mubadala Investment and Stone Point Capital was the industry’s largest disclosed deal. A thorough analysis of the disruptive themes and the Private Equity deal activity are included in GlobalData’s Banking and Payments Industry Mergers and Acquisitions Deals by Top Themes report. Buy the report here.

In value terms, private equity deal activity in the US increased by 258% in Q1 2024 compared with the previous quarter’s total of $4.7bn and rose by 78% as compared to Q1 2023. Related deal volume increased by 22% in Q1 2024 versus the previous quarter and was 94% higher than in Q1 2023.

The top-ranked financial advisors supporting these private equity deals in the US in Q1 2024 were Ardea Partners; Bank of America; Goldman Sachs Group with 4, 2, 2 deals respectively.

The top-ranked legal advisors supporting these private equity deals in the US in Q1 2024 were Kirkland & Ellis; Debevoise & Plimpton; McDermott Will & Emery with 5, 3, 3 deals respectively.

For further understanding of GlobalData's Banking and Payments Industry M&A Deals by Top Themes in Q1 2024 – Thematic Intelligence, buy the report here.

This content was updated on 23 April 2024

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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData’s Deals Database tracks global deal activity, including mergers, acquisitions, capital raising, strategic alliances, and licensing agreements. Proprietary analysis is used to group deals into key thematic areas and granular sectors across the world’s largest industries.

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Deal type includes Buyouts and Direct Investments done by Private Equity firms.