Total financial services industry private equity deals worth $1.9bn were announced in the US in Q3 2022, with NetSpend’s $1.9bn private equity deal with Rev Worldwide and Searchlight Capital Partners being the sector’s biggest investment, according to GlobalData’s deals database.
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The value marked a decrease of 27.3% over the previous quarter and a drop of 54.3% when compared with the last four-quarter average of $4.07bn.
The US held a 38.75% share of the global financial services industry private equity deal value that totalled $4.8bn in Q3 2022.
In terms of deal activity, the US recorded 24 private equity deals during Q3 2022, marking a decrease of 22.58% over the previous quarter and a drop of 33.79% over the last four-quarter average.
US financial services industry private equity deals in Q3 2022: Top deals
The top five financial services private equity deals accounted for a 93.2% share of the overall value during Q3 2022.
The combined value of the top five private equity deals stood at $1.73bn, against the overall value of $1.9bn recorded for the quarter.
The top five financial services industry deals of Q3 2022 tracked by GlobalData were:
1) Rev Worldwide and Searchlight Capital Partners’s $1bn private equity deal with NetSpend
2) The $210m private equity of The Kessler Group by Stone Point Capital
3) Atalaya Capital Management’s $200m private equity deal with Alt Platform
4) The $175m private equity of Sanctuary Wealth Management by Kennedy Lewis Investment Management
5) FTV Capital’s $146m private equity deal with Patra