The Canadian FS M&A Newsletter provides a market update and summary of key trends from the insurance, asset & wealth management, and banking sectors.
Surveying the global financial services M&A landscape, two themes are apparent in Q2 2019. First, the rapidly changing global payments landscape continued to exhibit M&A activity. Second, private equity firms are raising ever larger funds with no letup in the pace of fundraising in sight. With record amounts of dry powder globally, mega deals backed by private equity, including in financial services, look set to continue.
Canadian financial services deal activity in Q2 2019 held up relative to previous quarters with 25 transactions across the sector, which is up 9 percent on Q2 2018. Activity continued to be concentrated in Insurance distribution and services, with the FinTech sector also exhibiting a number of transactions. Asset & Wealth Management continued to attract interest, particularly as established players look to complement their existing offering or enter new markets. Furthermore, financial services players continued to selectively sell off certain non-core operations. Consistent with the global theme, private equity participated in its share of these transactions, taking advantage of the plentiful supply of capital.
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