Following a more cautious market in 2024, transaction activity across the fund administration, corporate services, and private client space gained momentum throughout 2025.
Activity remained concentrated in established jurisdictions, and a growing number of acquisitive platforms entered the market, seeking to expand capabilities, strengthen geographic coverage, and enhance service offerings.
Private equity remained a key driver of activity, with investors attracted to high-quality businesses that combine recurring revenues, strong client relationships, and scalable operating models.
Looking ahead
The sector outlook remains positive, supported by ongoing regulatory complexity, rising client expectations, and a continued focus on scale and international capability.
Private equity appetite remains strong, while cross-border transactions are expected to remain an important feature of the market. Alongside M&A activity, advances in AI-enabled automation and developments across global wealth markets are likely to influence the sector's next phase of growth.
Key themes shaping the sector
As the market continues to mature, buyers are placing increasing emphasis on quality over scale alone. Businesses that can demonstrate sustainable organic growth, operational resilience, and a proven ability to integrate acquisitions are attracting the strongest interest from both strategic and financial investors.
Regulatory requirements continue to evolve across key jurisdictions, increasing operational complexity for service providers and their clients. This is driving greater demand for outsourced solutions while accelerating investment in technology, automation, and data infrastructure. Firms that can combine regulatory expertise with operational efficiency are increasingly well-positioned to differentiate themselves in a competitive market.
The sector is also seeing growing demand for broader, more integrated service offerings. As clients seek support across multiple jurisdictions and increasingly complex structures, scale, specialist expertise and international reach are becoming increasingly important competitive advantages.
Looking ahead
The sector outlook remains positive, supported by ongoing regulatory complexity, rising client expectations, and a continued focus on scale and international capability.
Private equity appetite remains strong, while cross-border transactions are expected to remain an important feature of the market. Alongside M&A activity, advances in AI-enabled automation and developments across global wealth markets are likely to influence the sector's next phase of growth.
Our financial services transactions
Not just numbers on a balance sheet, our transactions represent over 20 years’ commitment to our clients’ future. Helping them change the game. Even before it was ready to be changed.
Investment to expand access to SME funding solutions
Adviser to Freshstream Investment Partners LLP on raising finance to support their investment in Portman Finance Group
Creating a platform for long-term growth through strategic funding solutions
Adviser to My Pension Expert on its acquisition finance and lender education process
Strategic acquisition enhances technology, support and services across the property and mortgage market
Adviser to BetterHome Group on its acquisition of Mortgage Support Services Ltd
Supporting the next generation of growth in financial planning and wealth management
Adviser to Beckett Investment Management on its majority investment from WestBridge
Find your local financial services expert
Get to know the experienced professionals driving results for our clients.
Our financial services sector leaders
Tobias Schätzmüller
Managing Partner +49 172 670 45 43 tobias.schaetzmueller@clearwatercf.com Connect
