Asia-Pacific’s financial services industry saw a drop of 21.31% in deal activity during July 2021, when compared with the last 12-month average, led by Apollo Global Management and Athene Holding’s $540m acquisition of Challenger, according to GlobalData’s deals database.
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A total of 48 financial services industry deals worth $1.9bn were announced for the region in July 2021, against the 12-month average of 61 deals.
Of all the deal types, M&A saw most activity in July 2021 with 22 transactions, representing a 45.8% share for the region.
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By GlobalDataIn second place was venture financing with 22 deals, followed by private equity deals with four transactions, respectively capturing a 45.8% and 8.3% share of the overall deal activity for the month.
In terms of value of deals, private equity was the leading category in Asia-Pacific’s financial services industry with $750.45m, while venture financing and M&A deals totalled $644.98m and $479.92m, respectively.
Asia-Pacific financial services industry deals in July 2021: Top deals
The top five financial services deals accounted for 67.7% of the overall value during July 2021.
The combined value of the top five financial services deals stood at $1.27bn, against the overall value of $1.9bn recorded for the month.
The top five financial services industry deals of July 2021 tracked by GlobalData were:
1) Athene and Apollo Global Management $540m private equity deal for 18% stake in Challenger
2) The $250m venture financing of VNLIFE Corporation Joint Stock by Dragoneer Investment Group,EDBI,General Atlantic Service Company,GIC,PayPal Ventures and SoftBank Vision Fund 1
3) Go Digit General Insurance $200m private equity deal with Faering Capital,IIFL Alternate Asset Managers and Sequoia Capital India
4) The $98.71m acquisition of 24.9% stake in Fidelity Life AssuranceLimited by Ngai Tahu Property
5) Bolttech Management $180m venture financing deal with Activant Capital Group,Alpha Leonis Partners,B. Riley Venture Capital,Dowling Capital Partners,Tarsadia Investments and Tony Fadell
