A new ranking of the world’s 50 largest private equity direct investment programmes reveals that top buyout shops are equally divided between the financial centres of New York and London, with 11 headquartered in each city.
The rise of London as an important centre for global private equity activity is among the findings of the PEI 50, a new ranking created by sister publication Private Equity International. In recent years, an increasing number of hedge funds, investment banks and other financial entities have been flocking to the Big Smoke – both because of its proximity to emerging markets and as a result of increasing US regulatory requirements – and in turn challenging the Big Apple for the title of world financial centre.
London headquartered private equity firms – all with international investment mandates – have raised $134 billion (€98 billion) in the past five years, while the New York-headquartered firms have raised $161 billion in the same period.
PEI 50 firms were ranked by the amount of capital they have raised for direct private equity investment over the past five years. Click here for a PDF of the executive summary.
Private Equity International will publish the PEI 50 once a year.
Complete profiles of the PEI 50 firms and an analysis of their fundraising and deal-making activity can be found in the May 2007 issue of Private Equity International.