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  1. Deals Analysis
August 30, 2022

North America’s financial services industry saw a drop of 66.67% in deal activity during July 2022

By Carmen

North America’s financial services industry saw a drop of 66.67% in deal activity during July 2022, when compared with the last 12-month average, led by Kennedy Lewis Investment Management’s $175m private equity deal with Sanctuary Wealth Management, according to GlobalData’s deals database.

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A total of 49 financial services industry deals worth $430.1m were announced for the region in July 2022, against the 12-month average of 147 deals.

Of all the deal types, M&A saw most activity in July 2022 with 30 transactions, representing a 61.2% share for the region.

In second place was venture financing with 16 deals, followed by private equity deals with three transactions, respectively capturing a 32.7% and 6.1% share of the overall deal activity for the month.

In terms of value of deals, private equity was the leading category in North America’s financial services industry with $175m, while venture financing and M&A deals totalled $163.1m and $92m, respectively.

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

The top five financial services deals accounted for 86.5% of the overall value during July 2022.

The combined value of the top five financial services deals stood at $372m, against the overall value of $430.1m recorded for the month.

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

1) Kennedy Lewis Investment Management $175m private equity deal with Sanctuary Wealth Management

2) The $92m acquisition of 35% stake in Avenue Holding Cayman by Itau Unibanco Holding

3) BAI Capital, Davidson Kempner Capital Management, General Catalyst Partners, GGV Capital, GIC, Goodwater Capital, Lightspeed Management Company, Tresalia Capital and Vision Plus Capital $50m venture financing deal with Mi Stori

4) The $30m venture financing of Centivo by Morgan Health

5) Abstract Ventures, Chainsmokers, Craft Ventures, FPV Ventures, Global Founders Capital, Harrison Metal Capital, Spark Capital and SV Angel $25m venture financing deal with X1 Card

Verdict deals analysis methodology

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.

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