Asia-Pacific’s financial services industry saw a drop of 21.21% in cross border deal activity during March 2022, when compared with the last 12-month average, led by EQT’s $7.5bn acquisition of Baring Private Equity Asia, according to GlobalData’s deals database.
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A total of 26 financial services industry cross border deals worth $8.4bn were announced for the region in March 2022, against the 12-month average of 33 deals.
Of all the deal types, venture financing saw most activity in March 2022 with 17 transactions, representing a 65.4% share for the region.
In second place was M&A with eight deals, followed by private equity deals with one transactions, respectively capturing a 30.8% and 3.9% share of the overall cross border deal activity for the month.
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In terms of value of cross border deals, M&A was the leading category in Asia-Pacific’s financial services industry with $7.56bn, while venture financing and private equity deals totalled $614.4m and $191.56m, respectively.
Asia-Pacific financial services industry cross border deals in March 2022: Top deals
The top five financial services cross border deals accounted for 97.8% of the overall value during March 2022.
The combined value of the top five financial services cross border deals stood at $8.18bn, against the overall value of $8.4bn recorded for the month.
The top five financial services industry cross border deals of March 2022 tracked by GlobalData were:
1) EQT $7.5bn acquisition deal with Baring Private Equity Asia
2) The $285.58m venture financing of China Korea Life Insurance by Guotai Junan Securities,Wenzhou Delivery,Wenzhou Electric Power Investment,Wenzhou Guojin Industry And Trade,Zhejiang Changxing Tianneng Financial Holding and Zhejiang Dongfang Fuel
3) Bain Capital Private Equity $191.56m private equity deal for 24.98% stake in IIFL Wealth Management
4) The $137m venture financing of Credavenue by B Capital Group,Dragoneer Investment Group and Insight Partners
5) ABC International,Adrian Cheng,Ausvic Capital,Chuang Capital,Dara Holdings,Horizons Ventures,Keywise Capital Management (HK),Lenovo Venture Capital,Sequoia Capital China and Vectr Fintech Partners $70m venture financing deal with Micro Connect Investments