Total financial services industry cross border deals worth $3.94bn were announced globally for January 2021, with the $500m private equity deal with Convex Group being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked a decrease of 76.8% over the previous month of $17bn and a drop of 55.2% when compared with the last 12-month average of $8.79bn.

In terms of number of cross border deals, the sector saw a flat growth with 80 deals in January 2021 when compared to the last 12-month average of 80 deals.

In value terms, Europe led the activity with cross border deals worth $2.36bn in January 2021.

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financial services industry cross border deals in January 2021: Top deals

The top five cross border deals accounted for 52.9% of the overall value during January 2021.

The combined value of the top five cross border deals stood at $2.08bn, against the overall value of $3.94bn recorded for the month.

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

1) TPG Sixth Street Partners’ $500m private equity deal with Convex Group

2) The $450m venture financing of Checkout by Blossom Capital, Coatue Management, DST Global, Endeavor Catalyst, GIC, Greenoaks Capital Management, Insight Partners and Tiger Global Management

3) Arab Banking(Bahrain)’s $426.79m acquisition of Blom Bank Egypt

4) The $400m venture financing deal of NU Pagamentos by Dragoneer Investment Group, GIC, Invesco, Kaszek Ventures, Ribbit Capital, Sequoia Capital Operations, Tencent Holdings and Whale Rock Capital Management

5) Cortina Bidco’s private equity deal with AFH Financial Group for $307.13m.