Advisory roles on two significant third-quarter deals put Citigroup Global Markets Inc. on top of the securities and investments M&A deal value league table for the period, and moved the investment bank up to fourth for the year-to-date rankings through Sept. 30.
Citi ranked sixth in the securities and investments M&A deal value league table through the first half of the year. But it was able to move up the list after landing a role on the seller's side of the sector's largest third-quarter deal: Invesco Ltd.'s pending $1.20 billion acquisition of Guggenheim Investments' exchange-traded funds business. Citi also worked as an adviser on Equiniti Group PLC's pending $227.0 million acquisition of Wells Fargo Shareowner Services, a deal announced in July.
The only other investment bank to be involved in two securities and investments deals in the third quarter was Berkshire Capital Securities LLC. J.P. Morgan Securities LLC remained at the top of the M&A league table for 2017, thanks to three deals in the first two quarters.
J.P. Morgan's role on digital consumer choice platform Red Ventures LLC's pending $1.33 billion acquisition of Bankrate Inc. helped propel it to the top of the financial technology deal value league table for the third quarter. The transaction helped J.P. Morgan move into the eighth spot in the financial technology deal value league table for the first nine months of 2017 after not cracking the top 10 through the first half of the year.
Evercore Inc. also moved into the top 10 after landing three financial technology deals in the third quarter and ranked sixth in deal value for the year-to-date league table as of Sept. 30.
Morgan Stanley was the sole listed adviser on the selling side of the third quarter's largest specialty finance deal: Napier Park Global Capital (US) LP's $935 million acquisition of rail finance assets from Toronto-based ECN Capital Corp. Morgan Stanley remains atop the specialty finance deal value M&A league table for the first three quarters with total deal value of $3.96 billion and six deals.
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