North America’s financial services industry saw a drop of 10.26% in deal activity during March 2022, when compared with the last 12-month average, led by Berkshire Hathaway’s $11.6bn acquisition of Alleghany, according to GlobalData’s deals database.

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A total of 140 financial services industry deals worth $15.7bn were announced for the region in March 2022, against the 12-month average of 156 deals.

Of all the deal types, M&A saw most activity in March 2022 with 84 transactions, representing a 60% share for the region.

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In second place was venture financing with 43 deals, followed by private equity deals with 13 transactions, respectively capturing a 30.7% and 9.3% share of the overall deal activity for the month.

In terms of value of deals, M&A was the leading category in North America’s financial services industry with $12.96bn, while venture financing and private equity deals totalled $1.79bn and $955.56m, respectively.

North America financial services industry deals in March 2022: Top deals

The top five financial services deals accounted for 87.7% of the overall value during March 2022.

The combined value of the top five financial services deals stood at $13.77bn, against the overall value of $15.7bn recorded for the month.

The top five financial services industry deals of March 2022 tracked by GlobalData were:

1) Berkshire Hathaway $11.6bn acquisition deal with Alleghany

2) The $850m private equity of CBAM Partners by The Carlyle Group

3) AllianceBernstein $750m acquisition deal with Carval Investors

4) The $300m venture financing of Acorns Grow by Bain Capital Ventures,BlackRock,Galaxy Digital,Greycroft Partners,Industry Ventures Fund IV,Owl Rock Capital,Senator Investment Group,Thirty Five Ventures,Torch Capital and TPG Capital

5) BRP Group $274.17m acquisition deal with Westwood Insurance Agency