US financial services industry saw a drop of 16.20% in overall deal activity during March 2022, when compared with the last 12-month average, led by Berkshire Hathaway’s $11.6bn acquisition of Alleghany, according to GlobalData’s deals database.

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A total of 119 deals worth $15.6bn were announced in March 2022, compared with the 12-month average of 142 deals.

M&A was the leading category in the month in terms of volume with 69 deals, which accounted for 58% of all deals.

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In second place was venture financing with 40 deals, followed by private equity with ten transactions, respectively accounting for 33.6% and 8.4% of overall deal activity in the US technology industry during the month.

In terms of value of deals, M&A was the leading deal category in the US financial services industry with total deals worth $12.96bn, while venture financing and private equity deals totalled $1.75bn and $855.56m respectively.

US financial services industry deals in March 2022: Top deals

The top five financial services industry deals accounted for 88.5% of the overall value during March 2022.

The combined value of the top five financial services deals stood at $13.77bn, against the overall value of $15.6bn recorded for the month.

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

1) Berkshire Hathaway $11.6bn acquisition deal with Alleghany

2) The $850m private equity of CBAM Partners by The Carlyle Group

3) AllianceBernstein $750m acquisition deal with Carval Investors

4) The $300m venture financing of Acorns Grow by Bain Capital Ventures,BlackRock,Galaxy Digital,Greycroft Partners,Industry Ventures Fund IV,Owl Rock Capital,Senator Investment Group,Thirty Five Ventures,Torch Capital and TPG Capital

5) BRP Group $274.17m acquisition deal with Westwood Insurance Agency