London has been a popular destination for PE this week, garnering PE-related headlines for several deals, a newly launched firm and personnel moves. The activity inspired an exploration of London’s year so far in the PitchBook Platform, which has tracked over 1,000 PE deals in the city since 2005.
Click to explore the data on the PitchBook Platform
Two specific sectors stand out among London's 88 deals in 2014 to date. Financial services has amassed 18 investments, not including an agreement from The Blackstone Group and TPG Capital to acquire mortgage lender Kensington for £180 million ($292 million). That deal count represents more than 20% of all completed PE transactions, compared to 13% in 2013 and 7% in 2012. Elsewhere, information technology has already claimed 17 deals, in line with the past three years. Local investors have been most active in those deals since 2005, led by Lloyds Development Capital (24), Octopus Investments (20) and 3i Group (18), but Blackstone will reach 19 after the Kensington close. Click here to explore London’s PE activity.