US financial services industry saw a drop of 26.53% in overall deal activity during November 2022, when compared with the last 12-month average, led by Fifth Services’ $220m asset transaction with Fifth Season Financial, according to GlobalData’s deals database.

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A total of 108 deals worth $813.4m were announced in November 2022, compared with the 12-month average of 147 deals.

M&A was the leading category in the month in terms of volume with 85 deals, which accounted for 78.7% of all deals.

In second place was venture financing with 19 deals, followed by private equity with four transactions, respectively accounting for 17.6% and 3.7% 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 $568.5m, while venture financing and private equity deals totalled $178.7m and $66.2m respectively.

US financial services industry deals in November 2022: Top deals

The top five financial services industry deals accounted for 78.8% of the overall value during November 2022.

The combined value of the top five financial services deals stood at $641m, against the overall value of $813.4m recorded for the month.

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

1) Fifth Services’s $220m asset transaction deal with Fifth Season Financial

2) The $200m acquisition of Apex Crypto by Bakkt Holdings

3) LPL Financial Holdings’s $140m acquisition deal with Financial Resources Group Investment Services

4) The $55m private equity of Tryllian Bank by A List Group Holdings and Tryllian Capital

5) Aquiline Technology Growth’s $26m venture financing deal with Commercialinsurance.NET