Sole fintech IPO pushes Goldman atop Q4'20 fintech common equity league table

Financial technology and payments

Goldman Sachs & Co. LLC took the No. 1 spot in the common equity league table for the financial technology and payments sectors for 2020, thanks in part to its work on Upstart Holdings Inc.'s public market debut.

The Goldman Sachs Group Inc. unit was among the book managers for Upstart's initial public offering, the sector's only IPO during the fourth quarter of 2020. Upstart, which operates an artificial intelligence lending platform, closed its IPO of common stock at a price to the public of $20 per share. BofA Securities Inc., Citigroup Global Markets Inc., Jefferies LLC and Barclays Capital Inc. were also book managers on the Upstart IPO.

During the fourth quarter of 2020, Goldman Sachs & Co. also was among the book managers on Fiserv Inc.'s and LendingTree Inc.'s follow-on common stock offerings.

BofA Securities topped the number-of-deals and deal credit debt league tables for the financial technology and payments sectors for the year ended Dec. 31, 2020, with a cumulative deal value of $4.63 billion from 37 offerings.

Asset management, investment banks, brokers and capital markets

J.P. Morgan Securities LLC topped the number-of-deals and deal credit common equity league tables for the asset management, investment banks, brokers and capital markets sectors for the second straight year in 2020, based on number of deals and deal credit.

The investment bank finished the year with a deal credit of $1.92 billion from three offerings. There were no common equity offerings in the asset management, investment banks, brokers and capital markets sectors in the fourth quarter of 2020.

Morgan Stanley led debt underwriters for the sectors for 2020 by deal value with deal credit of $18.74 billion across 25 offerings.

Specialty finance and mortgage REIT

Morgan Stanley secured the top spot in the common equity underwriter rankings for the specialty finance and mortgage REIT space by deal value for the year ended Dec. 31, 2020.

The investment bank finished the year with deal credit of $332.1 million from six offerings. Morgan Stanley did not work on any assignments in the fourth quarter of 2020.

J.P. Morgan Securities led the year-end deal credit league table for debt offerings in the specialty finance and mortgage REIT sectors with $11.05 billion from 112 transactions.