US financial services industry saw a rise of 15.45% in overall deal activity during July 2021, when compared with the last 12-month average, led by Liberty Mutual HoldingInc’s $2.29bn acquisition of State Auto Insurance Companies, according to GlobalData’s deals database.

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A total of 142 deals worth $12.4bn were announced in July 2021, compared with the 12-month average of 123 deals.

M&A was the leading category in the month in terms of volume with 71 deals, which accounted for 50% of all deals.

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In second place was venture financing with 56 deals, followed by private equity with 15 transactions, respectively accounting for 39.4% and 10.6% 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 $6.64bn, while private equity and venture financing deals totalled $4.7bn and $1.04bn,espectively.

US financial services industry deals in July 2021: Top deals

The top five financial services industry deals accounted for 63.3% of the overall value during July 2021.

The combined value of the top five financial services deals stood at $7.84bn, against the overall value of $12.4bn recorded for the month.

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

1) State Auto Insurance Companies $2.29bn acquisition deal with Liberty Mutual HoldingInc

2) The $2.2bn private equity of 9.9% stake in SAFG Retirement Services by The Blackstone Group

3) Generate Capital $2bn private equity deal with Andra AP-fonden,AustralianSuper,Aware Super,CBRE Caledon Capital Management,Harbert Management,QIC,Railways Pension TrusteeLimited and Wellcome Trust

4) The $600m acquisition of Parnassus Investments by Affiliated Managers Group

5) PayCertify $750m acquisition deal with Payment Reservations