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  1. Deals Analysis
November 25, 2022

Asia-Pacific’s financial services industry saw a drop of 47.30% in deal activity during October 2022

By Carmen

Asia-Pacific’s financial services industry saw a drop of 47.30% in deal activity during October 2022, when compared with the last 12-month average, led by Pegasus Bidco and Sixth Street Partners’ $898m private equity deal for 79.7% stake in Pushpay Holdings, according to GlobalData’s deals database.

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A total of 39 financial services industry deals worth $1.8bn were announced for the region in October 2022, against the 12-month average of 74 deals.

Of all the deal types, venture financing saw most activity in October 2022 with 19 transactions, representing a 48.7% share for the region.

In second place was M&A with 17 deals, followed by private equity deals with three transactions, respectively capturing a 43.6% and 7.7% 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 $939.63m, while M&A and venture financing deals totalled $618.18m and $210.74m, respectively.

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

The top five financial services deals accounted for 91.9% of the overall value during October 2022.

The combined value of the top five financial services deals stood at $1.62bn, against the overall value of $1.8bn recorded for the month.

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

1) Pegasus Bidco and Sixth Street Partners’s $898m private equity deal for 79.7% stake in Pushpay Holdings

2) The $553.6m acquisition of 20% stake in Rakuten Securities by Mizuho Financial Group

3) 1835i Ventures, Hermitage Capital, Hostplus Superannuation Fund, Lone Pine Capital, Salesforce Ventures, Sequoia Capital China, Square Peg Capital and Tencent Holdings’s $100m venture financing deal with Airwallex

4) The $40m venture financing of Reap Technologies by Abacus Ventures Trust, Acorn Pacific Ventures, Arcadia funds, Fresco Capital, HashKey Capital, Hustle Fund and Payment Asia (International)

5) Shenyang Siasun Robot & Automation’s $33.05m acquisition deal for 60% stake in Shenyang SIASUN Investment Management

Verdict deals analysis methodology

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.

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