In the global financial services industry, there were 68 private equity deals announced in Q1 2024, worth a total value of $18.2bn, according to GlobalData’s Deals Database. The $15.5bn institutional buy-out (ibo) Truist Insurance Holdings by Dubilier & Rice, Clayton, Mubadala Investment and Stone Point Capital was the industry’s largest disclosed deal. A thorough analysis of the disruptive themes and the Private Equity deal activity are included in GlobalData’s Banking and Payments Industry Mergers and Acquisitions Deals by Top Themes report. Buy the report here.
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In value terms, private equity deal activity increased by 130% in Q1 2024 compared with the previous quarter’s total of $7.9bn and rose by 75% as compared to Q1 2023. Related deal volume increased by 15% in Q1 2024 versus the previous quarter and was 48% higher than in Q1 2023.
Notably, foreign direct investments (fdi)-related deals accounted for a 41% share of the global financial services industry’s private equity deal activity in Q1 2024, up 27% over the previous quarter.
The top-ranked financial advisors supporting these private equity deals in Q1 2024 were Goldman Sachs Group; Ardea Partners; Bank of America with 5, 4, 2 deals respectively.
The top-ranked legal advisors supporting these private equity deals in Q1 2024 were Kirkland & Ellis; Skadden, Arps, Slate, Meagher & Flom LLP & Affiliates; Simpson Thacher & Bartlett with 7, 5, 4 deals respectively.
For further understanding of GlobalData's Banking and Payments Industry M&A Deals by Top Themes in Q1 2024 – Thematic Intelligence, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Deals Database tracks global deal activity, including mergers, acquisitions, capital raising, strategic alliances, and licensing agreements. Proprietary analysis is used to group deals into key thematic areas and granular sectors across the world’s largest industries.
This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Deal type includes Buyouts and Direct Investments done by Private Equity firms.
