Asia-Pacific’s financial services industry saw a drop of 32.35% in cross border deal activity during September 2022, when compared with the last 12-month average, led by Credit Suisse Group’s $160m acquisition of 49% stake in Credit Suisse Securities (China), according to GlobalData’s deals database.
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A total of 23 financial services industry cross border deals worth $461.7m were announced for the region in September 2022, against the 12-month average of 34 deals.
Of all the deal types, venture financing saw most activity in September 2022 with 14 transactions, representing a 60.9% share for the region.
In second place was M&A with eight deals, followed by private equity deals with one transactions, respectively capturing a 34.8% and 4.4% share of the overall cross border deal activity for the month.
In terms of value of cross border deals, venture financing was the leading category in Asia-Pacific’s financial services industry with $218.09m, while M&A and private equity deals totalled $160m and $83.59m, respectively.
Asia-Pacific financial services industry cross border deals in September 2022: Top deals
The top five financial services cross border deals accounted for 95% of the overall value during September 2022.
The combined value of the top five financial services cross border deals stood at $438.59m, against the overall value of $461.7m recorded for the month.
The top five financial services industry cross border deals of September 2022 tracked by GlobalData were:
1) Credit Suisse Group’s $160m acquisition deal for 49% stake in Credit Suisse Securities (China)
2) The $126m venture financing of Carrot General Insurance by Affirma Capital, Altos Ventures, Hanwha Group and STIC Investments
3) Abu Dhabi Investment Authority’s $83.59m private equity deal for 10% stake in Aditya Birla Health InsuranceLimited
4) The $58m venture financing of DotPe by Info Edge Ventures, Naya Capital Management, PayU and Temasek Holdings (Private)
5) AC Ventures, Coinbase Ventures and Skystar Capital’s $11m venture financing deal with PT Rekeningku Dotcom Indonesia