North America’s financial services industry saw a drop of 33.77% in deal activity during May 2022, when compared with the last 12-month average, led by The Carlyle Group’s $1.78bn private equity deal with NSM Insurance Group, according to GlobalData’s deals database.

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A total of 102 financial services industry deals worth $4.8bn were announced for the region in May 2022, against the 12-month average of 154 deals.

Of all the deal types, M&A saw most activity in May 2022 with 59 transactions, representing a 57.8% share for the region.

In second place was venture financing with 31 deals, followed by private equity deals with 12 transactions, respectively capturing a 30.4% and 11.8% share of the overall deal activity for the month.

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In terms of value of deals, private equity was the leading category in North America’s financial services industry with $1.94bn, while venture financing and M&A deals totalled $1.93bn and $961.74m, respectively.

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

The top five financial services deals accounted for 74.1% of the overall value during May 2022.

The combined value of the top five financial services deals stood at $3.58bn, against the overall value of $4.8bn recorded for the month.

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

1) The Carlyle Group $1.78bn private equity deal with NSM Insurance Group

2) The $725m venture financing of Acrisure by Guggenheim Investments and Oak Hill Advisors

3) Berkshire Hathaway $620m acquisition deal with Markel

4) The $313m acquisition of PCSB Financial by Brookline Bancorp

5) Altos Ventures,Blank Slate Ventures,Gaingels,Knollwood Investment Advisory,Maple VC Partners,Tribe Capital and Valar Ventures $145.2m venture financing deal with Neo Financial Technologies