For deal sourcers, staying current on private company activity is critical to spotting active buyers, tracking market trends, and uncovering emerging investment opportunities ahead of competitors.
In December alone, we added more than 2,500 new private company transactions, bringing the total to over 16,000 searchable deals across sectors, industries, and transaction types in Dakota Marketplace.
Inside Dakota Marketplace, you’ll find the transactions tab that provides structured, filterable data on deal types, values, and dates, while our editorial team curates daily updates through the Dakota transactions newsletter, helping you cut through the noise and focus on what matters most.
To ensure the most comprehensive coverage of private market activity, Dakota monitors over 10,000 websites including company websites, newswires, and numerous third-party news providers to capture and verify transaction data as it happens.
Below are the top 10 financial transactions.
- Transaction Date: 12/17/2025
- Industry: Financial Services
- Type: Growth Equity
- Transaction Value: €1.2B
- Participants: Founders Fund, Sequoia, Accel, TCV, Thrive Capital, Fidelity
Trade Republic confirmed a €12.5 billion valuation following a €1.2 billion secondary share sale, elevating the German stock trading app to decacorn status and more than doubling its 2022 valuation of approximately €5 billion. The transaction involved existing and new investors — including Founders Fund, Sequoia, Accel, TCV, Thrive Capital, Wellington, Fidelity, and Khosla Ventures – and did not introduce new capital into the company.
- Transaction Date: 12/22/2025
- Industry: Consumer Finance
- Type: Buyout/Private Equity
- Transaction Value: $7.4B
- Participants: Trian Fund Management, General Catalyst Partners
Janus Henderson Group plc agreed to be acquired by Trian Fund Management and General Catalyst in an all-cash transaction valuing the firm at approximately $7.4 billion, with public shareholders receiving $49.00 per share, an 18% premium to the unaffected share price. The transaction, expected to close in mid-2026 subject to regulatory and shareholder approvals, will take the global asset manager private while retaining its current leadership team and core operations in London and Denver.
- Transaction Date: 12/4/2025
- Industry: Financial Services
- Type: Buyout/Private Equity
- Transaction Value: $7B
- Participants: Stone Point Capital, CPP Investments, Evercore Private Funds Group
OneDigital closed a majority investment from Stone Point Capital and CPP Investments in a secondary transaction valuing the insurance brokerage and financial services platform at over $7 billion, with Onex Partners selling a portion of its stake while remaining a significant minority owner. The investment supports OneDigital’s continued growth through organic expansion and acquisitions across its five core business verticals, marking the company’s fourth equity recapitalization.
- Transaction Date: 12/19/2025
- Industry: Consumer Finance
- Type: Acquisition/Merger
- Transaction Value: $4.4B
- Participants: Mitsubishi UFJ Financial Group, KPMG Corp
MUFG Bank agreed to invest approximately INR 396.2 billion to acquire a 20% equity stake in Shriram Finance through a preferential allotment, making the Indian non-banking financial company an equity-method affiliate of MUFG upon regulatory approval. The transaction is accompanied by a strategic partnership aimed at accelerating Shriram Finance’s growth in India’s MSME and retail markets by combining MUFG’s global banking expertise with Shriram’s extensive local distribution network.
- Transaction Date: 12/15/2025
- Industry: Banks
- Type: Acquisition/Merger
- Transaction Value: $2.3B
- Participants: Citigroup Inc, Creel, White & Case, S.C.
Citi completed the sale of approximately a 25% equity stake in Grupo Financiero Banamex to a company wholly owned by Mexican investor Fernando Chico Pardo and his family, advancing its strategic divestiture of the consumer banking franchise in Mexico. Following the transaction, which received all required regulatory approvals, Fernando Chico Pardo becomes Chair of Banamex while Citi continues to focus on and grow its institutional business in the country.
- Transaction Date: 12/18/2025
- Industry: Insurance
- Type: Acquisition/Merger
- Transaction Value: $2.1B
- Participants: The Carlyle Group, Hellman & Friedman, Howard Hughes Holdings
Howard Hughes Holdings agreed to acquire specialty insurance and reinsurance company Vantage Group Holdings for approximately $2.1 billion, marking a pivotal step in its transformation into a diversified holding company. The transaction, expected to close in the second quarter of 2026, will be financed with cash and preferred equity issued to Pershing Square and positions Vantage as the anchor platform for Howard Hughes’ long-term insurance and investment strategy.
- Transaction Date: 12/2/2025
- Industry: Banks
- Type: Acquisition/Merger
- Transaction Value: $1.4B
- Participants: Fairstone Bank of Canada, J.P. Morgan Investment Bank, Osler, Hoskin & Harcourt
Laurentian Bank announced a coordinated set of transactions to accelerate its shift to a specialty commercial bank, including the sale of its retail and SME banking portfolios and syndicated loan business to National Bank of Canada and an agreement for Fairstone Bank to acquire all outstanding Laurentian Bank shares for approximately $1.4 billion. Upon closing, Laurentian Bank will exit retail banking, retain its brand and Montreal headquarters, and focus exclusively on commercial real estate, inventory and equipment financing, and capital markets activities under Fairstone Bank’s ownership.
- Transaction Date: 12/1/2025
- Industry: Capital Markets
- Type: Acquisition/Merger
- Transaction Value: $1.8B
- Participants: Nomura Holdings & Macquarie
Nomura agreed to acquire Macquarie’s U.S. and European public asset management business for $1.8 billion in cash, adding approximately $180 billion in client assets across equity, fixed income, and multi-asset strategies. The acquisition significantly expands Nomura’s global investment management footprint, increasing total AUM to an estimated $770 billion and strengthening its presence outside Japan, particularly in the U.S. and Europe.
- Transaction Date: 12/8/2025
- Industry: Insurance
- Type: Buyout/Private Equity
- Transaction Value: $1.75B
- Participants: White Mountains Insurance Group, CVC Capital Partners, Evercore Inc
White Mountains Insurance Group completed the sale of a controlling interest in Bamboo to funds advised by CVC Capital Partners, valuing the data-enabled homeowners insurance platform at $1.75 billion. White Mountains received approximately $840 million in net cash proceeds and retained an approximately 15% fully diluted equity stake in Bamboo post-closing.
- Transaction Date: 12/17/2025
- Industry: Mortgage Real Estate Investment Trusts (REITs)
- Type: Acquisition/Merger
- Transaction Value: $1.3B
- Participants: UWM Holdings, BofA Securities Corp, Greenhill & Co. Investment Bank
UWM Holdings agreed to acquire Two Harbors Investment Corp. in an all-stock transaction valued at approximately $1.3 billion, significantly expanding UWM’s mortgage servicing capabilities and nearly doubling its MSR portfolio to about $400 billion in unpaid principal balance. The merger, expected to close in the second quarter of 2026 pending shareholder and regulatory approvals, is projected to generate meaningful cost and revenue synergies while strengthening UWM’s cash flow, balance sheet, and long-term profitability.
Transactions in Dakota Marketplace
At Dakota, we understand how important it is to stay current on deal activity as it happens. That’s why our editorial team continuously monitors the news for real-time updates on platform investments, add-ons, divestitures, and more to deliver daily highlights straight to your inbox through our transactions newsletter.
Inside Dakota Marketplace, the transactions tab provides structured, filterable data with deal dates, types, sectors, and financials, allowing you to build a customized feed that aligns with your focus areas.
Whether you're evaluating a new investment opportunity or tracking trends within a target sector, Dakota Marketplace helps you cut through the noise and focus on what matters most.
For more information on these transactions and a deeper dive into their industries and sub-industries, book a demo of Dakota Marketplace.
