The US financial services industry saw a rise of 10.1% in overall deal activity during August 2019, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 120 deals worth $2.56bn were announced in August 2019, compared to the 12-month average of 109 deals.

M&A was the leading category in the month in terms of volume with 69 deals which accounted for 57.5% of all deals.

In second place was venture financing with 42 deals, followed by private equity with nine transactions, respectively accounting for 35% and 7.5% of overall deal activity in the country’s financial services industry during the month.

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In terms of value of deals, M&A was the leading deal category in the US financial services industry with total deals worth $1.08bn, while private equity and venture financing deals totalled $760.32m and $714m, respectively.

US financial services industry deals in August 2019: Top deals

The top five financial services industry deals accounted for 60.3% of the overall value during August 2019.

The combined value of the top five financial services deals stood at $1.54bn, against the overall value of $2.56bn recorded for the month.

The top five financial services industry deals of August 2019 tracked by GlobalData were:

1) Pershing Square Capital Management’s $688m private equity deal with Berkshire Hathaway

2) The $350m venture financing of Root Insurance by Coatue Management, Drive Capital, DST Global, Redpoint Ventures, Ribbit Capital and Tiger Global Management

3) First Midwest Bancorp’s $195m acquisition of Bankmanagers and Park Bank

4) The $160m acquisition of BlueMountain Capital Management by Assured Guaranty US Holdings

5) MarketAxess Holdings’ acquisition of LiquidityEdge for $150m.

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.