Led by $1.07bn private equity deal with AMP, Asia-Pacific’s financial services industry saw a drop of 2.24% in deal activity during Q1 2021, when compared to the last four-quarter average, according to GlobalData’s deals database.

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A total of 196 deals worth $8.84bn were announced for the region during Q1 2021, against the last four-quarter average of 200.50 deals.

Of all the deal types, M&A saw most activity in Q1 2021 with 105 deals, representing a 53.6% share for the region.

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In second place was venture financing with 75 deals, followed by private equity deals with 16 transactions, respectively capturing a 38.3% and 8.2% share of the overall deal activity for the quarter.

In terms of value of deals, M&A was the leading category in Asia-Pacific’s financial services industry with $4.37bn, while private equity and venture financing deals totalled $2.69bn and $1.78bn, respectively.

Asia-Pacific financial services industry deals in Q1 2021: Top deals

The top five financial services deals accounted for a 40.5% share of the overall value during Q1 2021.

The combined value of the top five deals stood at $3.58bn, against the overall value of $8.84bn recorded for the quarter.

The top five financial services industry deals of Q1 2021 tracked by GlobalData were:

1) Ares Management’s $1.07bn private equity deal with AMP

2) The $800.28m acquisition of China Life Insurance by China Development Financial Holding

3) Hillhouse Capital Group and Warburg Pincus’ $700m private equity deal with JD Property

4) The $595.62m acquisition deal with E-surfing Pay by China Telecommunications

5) J.P. Morgan Asset Management’s acquisition of CMB Wealth Management for $410.43m.