PEI 300: New York outstrips the rest

Firms headquartered in New York City raised more in the last five years than the next five fundraising capitals combined.

PEI 300 2017 top 10 cities 411

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Private equity firms that call New York City, such as Blackstone and KKR, home raised more capital in the last five years than those headquartered in the next five most popular cities combined.

New York City was the returning champion in the 2017 PEI 300, an annual ranking measuring capital raised by private equity firms in the preceding five years. Firms headquartered in the city raised $393 billion between them, significantly more than the $360.5 million raised last year.

In second place was London, where a combined $149.78 billion was amassed by firms such as CVC Capital Partners and Cinven.

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 Hong Kong was usurped in fourth place by Menlo Park, where $50.68 billion was raised by firms in the last five years, helped by the likes of technology investors Silver Lake. This year Hong Kong, with $41.75 billion, is ranked seventh, behind Los Angeles, with $49.09 billion, and Washington D.C., with $47.64 billion.

Of the amount raised by DC-headquartered firms, 85 percent is accounted for by the Carlyle Group, which ranks third in this year’s PEI 300.

In Europe, London was by far the most popular fundraising centre, amassing $149.78 billion, more than six times second-place Paris, which collected $22.38 billion. Paris, home to Ardian, was followed by Stockholm, home to EQT, with $18.78 billion, and Moscow, with $11.19 billion.

The difference is not so stark in Asia; second to Hong Kong is Beijing, with $24.73 billion, followed by Seoul, with $16.39 billion and Shanghai with $15.87 billion.

Of the 10 largest firms in this year’s PEI 300, five have their headquarters in New York. Just one – CVC Capital Partners – is based in Europe, while the remainder are spread across the US.

Of the full PEI 300, 72 percent of the total capital raised for the five-year period was collected by firms headquartered in North America, up from 69 percent last year. Western Europe accounted for 17 percent, up from 16 percent last year, while Asia-Pacific dipped from 11 percent to nine percent.

Click here for the full PEI 300 list