Europe’s financial services industry saw a drop of 15.91% in cross border deal activity during February 2022, when compared with the last 12-month average, led by Canada Pension Plan Investment Board, La Caisse des Depots et placement du Quebec and Motive Partners’ $1.4bn private equity deal with FNZ UK, according to GlobalData’s deals database.

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A total of 37 financial services industry cross border deals worth $3.7bn were announced for the region in February 2022, against the 12-month average of 44 deals.

Of all the deal types, venture financing saw most activity in February 2022 with 19 transactions, representing a 51.4% share for the region.

In second place was M&A with 14 deals, followed by private equity deals with four transactions, respectively capturing a 37.8% and 10.8% share of the overall cross border deal activity for the month.

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In terms of value of cross border deals, private equity was the leading category in Europe’s financial services industry with $1.57bn, while M&A and venture financing deals totalled $1.12bn and $1.02bn, respectively.

Europe financial services industry cross border deals in February 2022: Top deals

The top five financial services cross border deals accounted for 80.8% of the overall value during February 2022.

The combined value of the top five financial services cross border deals stood at $3bn, against the overall value of $3.7bn recorded for the month.

The top five financial services industry cross border deals of February 2022 tracked by GlobalData were:

1) Canada Pension Plan Investment Board,La Caisse des Depots et placement du Quebec and Motive Partners $1.4bn private equity deal with FNZ UK

2) The $497m venture financing of Scalapay by Deimos Ventures,Fasanara Capital Credit Strategies Fund,Moore Capital Management,Rakesh Gangwal,Tencent Holdings,Tiger Global Management and Willoughby Capital Management

3) Assicurazioni Generali $486.62m acquisition deal with LA MEDICALE DE FRANCE

4) The $385.6m acquisition of Pollen Street Capital by Honeycomb Investments

5) Allianz $226.38m acquisition deal for 72% stake with European Reliance General Insurance Co