The UK financial services industry saw a rise of 17% in overall deal activity during Q4 2018, when compared with the last four-quarter average, according to GlobalData’s deals database.
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A total of 117 deals worth $13.52bn were announced in Q4 2018, compared to the last four-quarter average of 100 deals.
M&A was the leading category in the quarter with 93 deals which accounted for 79.5% of all deals.
In second place was venture financing with 17 deals, followed by private equity with seven transactions, respectively accounting for 14.5% and 6% of overall deal activity in the country’s financial services industry during the quarter.
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By GlobalDataIn terms of value of deals, M&A was the leading deal category in the UK financial services industry with total deals worth $9.84bn, while private equity and venture financing deals totalled $3.5bn and $171.18m, respectively.
UK financial services industry deals in Q4 2018: Top deals
The top five financial services deals accounted for 79.4% of the overall value during Q4 2018.
The combined value of the top five financial services industry deals stood at $10.74bn, against the overall value of $13.52bn recorded for the quarter. The top announced UK financial services industry deal tracked by GlobalData in Q4 2018 was Legal & General Assurance Society’s $3.15bn acquisition of Nortel Networks UK Pension Plan.
In second place was the $2.93bn acquisition of CFSGAM IP Holdings, CFSGAM Services, Colonial First State Asset Management (Australia), Colonial First State Infrastructure, Colonial First State Managed Infrastructure, First State Investments Managers (Asia), First State Investments (US), First State Investment (UK Holdings) and Realindex Investments by Mitsubishi UFJ Trust and Banking and in third place was Generation Investment Management and La Caisse des Depots et placement du Quebec’s $2.16bn private equity deal with FNZ UK.
The $1.5bn acquisition of Tokio Millennium Re (UK) and Tokio Millennium Re by RenaissanceRe Holdings and ICG Strategic Equity’s private equity deal with Standard Chartered for $1bn held fourth and fifth positions, respectively.
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.
Verdict makes every effort to ensure the accuracy of its deals information. If you spot a mistake, or would like to notify us of a deal which should be included in this analysis, please email us at deals@globaldata.com
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.
