PEI 300: Showcasing the World's Largest Private Equity Groups

New York reigns as the world's largest private equity raising center

New York is the largest private equity raising centre globally raising $324.4 billion over the last five years, over $213 billion more than its nearest rival London, according to the PEI 300 annual report. The report ranks private equity firms by the amount of capital raised over a five year qualifying period.

New York is the unrivalled king of private equity fundraising, leaving London, San Francisco and Boston trailing behind as it continues to be the world’s leading private equity fundraising centre. San Francisco came in third raising $94.9 billion, with a further six US cities and states making the regional top 10. London, Hong Kong and mainland China make up the remaining places.

The PEI 300 reveals that the downward trend in overall fundraising by private equity firms following the 2008 financial crash has ended following a modest 6% jump to $1086.9 billion compared to 2014 figures.

The US dominance of the PEI 300 is led by The Carlyle Group, which remains in top spot having raised $31.9 billion, closely followed by TPG from Texas which raised $30.3 billion, moving up from fifth in 2014. The largest ten funds raised $227 billion over the past five years, up from $199 billion in 2014 yet significantly down from the $368.5 billion raised in the five years to 2009

The strength of the US as a fundraising powerhouse for private equity firms is further reflected by the dominance of the 2015 PEI 300 top ten, with US firms taking nine of the top spots for the third consecutive year. Only London based CVC Capital Partners, ranked sixth, made it into the top ten. The fastest regional growth can be found in Asia, with Hong Kong, China, Korea and Japan becoming more prominent centres for private equity firms.

Significant movers and shakers from the US in this year’s PEI 300 include Boston-based Bain Capital, which jumped up the rankings from 21st in 2014 to 10th this year raising $14.5 billion over the five year period. The biggest success story is Texas based Vista Equity Partners, raising $11.81 billion over the last five years, moving from 222nd in 2011 to 11th in 2015.

Dan Gunner, head of research, Private Equity International, said: “New York is leading the private equity recovery. The fundraising market suffered in the post-crisis years of declining capital raising but the PEI 300 shows how the recovery is playing out. New York shows no sign of losing its title as the private equity capital of the world.

“Indeed, private equity capital raising is dominated by US firms which raised almost $732 billion of the $1086.9 raised globally by the PEI 300 over the past five years.  That’s not to say that the capital raised is being deployed exclusively in the US; many US-headquartered firms continue to invest in Europe, Asia and beyond”.

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