Europe’s financial services industry saw a drop of 21.88% in cross border deal activity during February 2021, when compared with the last 12-month average, led by Ontario Municipal Employees Retirement System’s $375m acquisition of Brit, according to GlobalData’s deals database.
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A total of 25 financial services industry cross border deals worth $1.07bn were announced for the region in February 2021, against the 12-month average of 32 deals.
Of all the deal types, M&A saw most activity in February 2021 with 16 transactions, representing a 64% share for the region.
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By GlobalDataIn second place was venture financing with five deals, followed by private equity deals with four transactions, respectively capturing a 20% and 16% share of the overall cross border deal activity for the month.
In terms of value of cross border deals, M&A was the leading category in Europe’s financial services industry with $546.05m, while private equity and venture financing deals totalled $383.02m and $140.14m, respectively.
Europe financial services industry cross border deals in February 2021: Top deals
The top five financial services cross border deals accounted for 98.1% of the overall value during February 2021.
The combined value of the top five financial services cross border deals stood at $1.05bn, against the overall value of $1.07bn recorded for the month.
The top five financial services industry cross border deals of February 2021 tracked by GlobalData were:
1) Ontario Municipal Employees Retirement System’s $375m acquisition of Brit
2) The $257.73m private equity deal with Cepal Holdings Single Member by Davidson Kempner Capital Management
3) Ageas Insurance International’s $170.8m acquisition of AvivaSA Emeklilik ve Hayat
4) The $125.29m private equity deal with Legal & General Group by BlackRock Real Assets
5) Access Industries, Eldridge Industries, GV Management Co, Kyle Bass, Lakestar Capital, Lightspeed Management Company, Moore Strategic Ventures and Rovida Advisors’ venture financing of Blockchain Luxembourg for $120m.
