Asia-Pacific’s financial services industry saw a drop of 17.11% in deal activity during September 2022, when compared with the last 12-month average, led by Quam Tonghai’s $244.26m acquisition of 66.1% stake in China Tonghai International Financial, according to GlobalData’s deals database.

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A total of 63 financial services industry deals worth $1.2bn were announced for the region in September 2022, against the 12-month average of 76 deals.

Of all the deal types, M&A saw most activity in September 2022 with 34 transactions, representing a 54% share for the region.

In second place was venture financing with 26 deals, followed by private equity deals with three transactions, respectively capturing a 41.3% 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 $708.52m, while venture financing and private equity deals totalled $387.1m and $90.09m, respectively.

Asia-Pacific financial services industry deals in September 2022: Top deals

The top five financial services deals accounted for 65.6% of the overall value during September 2022.

The combined value of the top five financial services deals stood at $777.31m, against the overall value of $1.2bn recorded for the month.

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

1) Quam Tonghai’s $244.26m acquisition deal for 66.1% stake in China Tonghai International Financial

2) The $163.46m asset transaction of China Universal Leasing by Industrial Assets Management

3) Credit Suisse Group’s $160m acquisition deal for 49% stake in Credit Suisse Securities (China)

4) The $126m venture financing of Carrot General Insurance by Affirma Capital, Altos Ventures, Hanwha Group and STIC Investments

5) Abu Dhabi Investment Authority’s $83.59m private equity deal for 10% stake in Aditya Birla Health InsuranceLimited