New York City has yet again taken the crown as the home of the largest total amount of capital fundraised by private equity firms in the last five years.
Private Equity International’s PEI 300, an annual ranking which measures capital raised by private equity firms in the preceding five years, placed the Big Apple as the returning champion, with more than double the capital raised in the next most popular city, London.
When PEI started tracking the five-year fundraising levels by cities in 2012, New York led the list with $441 billion, about 3.24 times larger than the $136 billion raised in London. This year, New York topped with $360.5 billion, about 3.17 times as high as London’s $113.8 billion.
New York and London were trailed by Boston ($85.3 billion), Hong Kong ($52 billion), Menlo Park (47.9 billion), Los Angeles ($41.5 billion), Houston ($36 billion), San Francisco ($35.6 billion), Chicago ($35 billion) and Washington DC ($30.4 billion).
New York dominates PEI 300’s top 10 list as well, with four of the top 10 firms in this year’s rankings headquartered in the city. The Blackstone Group, KKR, Warburg Pincus and Apollo Global Management, all based in New York, together represent $148 billion of capital raised in the five years leading up to 2016, or 52 percent of the top 10 list. Of those four, Blackstone leaped into first place with a whopping $60 billion fundraising total.
The four other American cities in top 10 were Boston, Washington DC, Houston and Fort Worth. London made the list thanks to CVC Capital Partners, which raised $23.46 billion in the last five years, and Sweden made an appearance at No. 10, with EQT raising $18.52 billion.
PEI also broke down the capital raised by regions, and found that the majority, or 69 percent, of the total capital for the five-year period was raised by firms headquartered in North America. Just 16 percent was in Western Europe, 11 percent in Asia-Pacific, and the rest in Latin America, Central and Eastern Europe, and Middle East and Africa.
For the full PEI 300 list, click here.