Asia-Pacific’s financial services industry saw a rise of 50.00% in cross border deal activity during March 2021, when compared with the last 12-month average, led by Hillhouse Capital Group and Warburg Pincus’ $700m acquisition of JD Property, according to GlobalData’s deals database.

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A total of 33 financial services industry cross border deals worth $2.22bn were announced for the region in March 2021, against the 12-month average of 22 deals.

Of all the deal types, M&A saw most activity in March 2021 with 16 transactions, representing a 48.5% share for the region.

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In second place was venture financing with ten deals, followed by private equity deals with seven transactions, respectively capturing a 30.3% and 21.2% share of the overall cross border deal activity for the month.

In terms of value of cross border deals, private equity was the leading category in Asia-Pacific’s financial services industry with $1.23bn, while M&A and venture financing deals totalled $730.4m and $259.1m, respectively.

Asia-Pacific financial services industry cross border deals in March 2021: Top deals

The top five financial services cross border deals accounted for 80.8% of the overall value during March 2021.

The combined value of the top five financial services cross border deals stood at $1.79bn, against the overall value of $2.22bn recorded for the month.

The top five financial services industry cross border deals of March 2021 tracked by GlobalData were:

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

2) The $410.43m acquisition deal with CMB Wealth Management by J.P. Morgan Asset Management

3) ABRY Partners and Aquiline Capital Partners’ $350m private equity deal with ERS DGB

4) The $230.65m acquisition of Latitude Financial Services Australia Holdings by Shinsei Bank

5) ANZi Ventures, Greenoaks Capital Management, Grok Ventures and Skip Capital’s venture financing of Airwallex for $100m.