Led by $10.91bn merger of Apollo Global Management and Athene Holding, North America’s financial services industry saw a rise of 27.57% in deal activity during Q1 2021, when compared to the last four-quarter average, according to GlobalData’s deals database.

 

A total of 524 deals worth $54.76bn were announced for the region during Q1 2021, against the last four-quarter average of 410.75 deals.

Of all the deal types, M&A saw most activity in Q1 2021 with 325 deals, representing a 62.02% share for the region.

In second place was venture financing with 155 deals, followed by private equity deals with 44 transactions, respectively capturing a 29.6% and 8.4% share of the overall deal activity for the quarter.

In terms of value of deals, M&A was the leading category in North America’s financial services industry with $38.32bn, while private equity and venture financing deals totalled $9.42bn and $7.03bn, respectively.

North America financial services industry deals in Q1 2021: Top deals

The top five financial services deals accounted for a 49.9% share of the overall value during Q1 2021.

The combined value of the top five deals stood at $27.31bn, against the overall value of $54.76bn recorded for the quarter.

The top five financial services industry deals of Q1 2021 tracked by GlobalData were:

1) $10.91bn merger of Apollo Global Management and Athene Holding

2) The $7.6bn acquisition of People’s United Financial by M&T Bank

3) Massachusetts Mutual Life Insurance’s $3.5bn acquisition of Annuity Investors Life Insurance, Great American Insurance Group and Manhattan Life Insurance

4) The $2.8bn private equity deal with Allstate Life Insurance by The Blackstone Group

5) The Goldman Sachs Group’s asset transaction with General Motors for $2.5bn.