By Niccolo Conte
In 2023, private equity firms controlled $8.2 trillion in assets globally according to McKinsey & Company, a figure that has rapidly expanded since the industry first emerged 40 years ago.
As large investors such as pension funds and insurance companies increasingly look to private markets, these alternative asset managers have seen their assets grow by more than twofold in the last five years.
This graphic shows the top 50 private equity firms worldwide, based on data from Private Equity International (PEI).
The Top 50 Private Equity Firms
To determine the rankings, private equity firms were defined as those that raise capital with the purpose of directly investing in businesses, covering diversified private equity, venture capital, growth equity, buyouts, along with turnaround or control-oriented distressed investment capital.
The ranking does not include funds of funds, private investment in public equity (PIPE), or funds that follow a secondaries, real estate, infrastructure, hedge fund, debt or mezzanine strategies.
Headquartered in New York, Blackstone’s total assets under management stood at $991 billion as of the first quarter of 2023, and have since surpassed $1 trillion this year. For perspective, this is comparable to the GDP of the Netherlands.
North American Firms Dominate Private Equity
As we can see, the vast majority of the biggest private equity firms are based in America, accounting for 36 of the top 50 firms globally. North American PE firms made up $1.34 trillion (72%) of the $1.85 trillion raised by the top 50 firms in the ranking.
Falling in second by a wide margin is Europe, with nine firms making up $179 billion (9.7%) of the total funds raised. Many of Europe’s largest private equity firms are based in London, England, with the most prominent asset managers in the city being Hg and Permira Advisors.
