Energy Private Equity Firm of the Year
Blackstone has been heavily engaged within the energy space over the past year. In September, its wholly owned portfolio company Transmission Developers was selected by the New York State Energy Research and Development Authority to help deliver clean, renewable power to New York City. More recently, in December, it was announced that Blackstone Energy Partners would acquire Irth Solutions in a move that continues the company’s focus on investing in firms that support critical infrastructure and the global energy transition.
Healthcare Private Equity Firm of the Year
2. Patient Square Capital
3. Carlyle Group
TPG’s exemplary work in 2021 led to its win in the Healthcare Private Equity Firm of the Year category. In addition to strong growth across its portfolio, TPG committed to eight new deals and conducted several successful exits. TPG’s 2020 acquisition of LifeStance Health and the company’s 2021 IPO also stood out. The acquisition of the outpatient mental healthcare provider was one of the first $1 billion-plus buyouts since the pandemic began.
Technology Private Equity Firm of the Year
1. Clearlake Capital
2. Francisco Partners
3. General Atlantic
Clearlake had a busy 2021, completing 10 platform investments and 33 add-on acquisitions in tech companies globally. One of its biggest triumphs stemmed from the dual acquisition of Endurance International Group and Web.com Group, which it combined to create Newfold Digital, one of the largest web presence solution providers in the world.
Consumer Private Equity Firm of the Year
1. L Catterton
3. Clayton, Dubilier & Rice
L Catterton has reclaimed the title in this category after last scooping the award in 2018. The consumer specialist held three final closes on separate funds last year, surpassing its target for each. It collected $5 billion for Fund IX, $900 million for its Growth IV fund and $535 million for its third Latin America fund. The firm was also busy on the deal front – it invested approximately $6 billion of equity into 27 new investments in 2021 to the end of October.
Long-term Private Equity Firm of the Year
KKR bounded to the top spot following a busy year for its core investments (long-term private equity) strategy. Not only did the firm hold a $12 billion first close for its second core private equity fund in Q2, it also made a number of investments from the strategy, including sustainability consultancy Environmental Resources Management and software firm Cegid. KKR’s core portfolio had delivered a gross internal rate of return of approximately 28 percent as of November.
Frontier Markets Private Equity Firm of the Year
2. MSA Capital
3. Development Partners International
Taking home the award for the second year in a row, London-headquartered Actis had a busy year, with exits including Saavi Energía, the fourth-largest independent power producer in Mexico, and Indian renewable energy platform Sprng. Actis also assisted portfolio company BTE Renewables in arranging an innovative financing agreement for BTE’s Kipeto Wind Power Project in Kenya.
Growth Equity Firm of the Year
1. TA Associates
2. Summit Partners
TA Associates takes home the prize for our newest category after a tight race with Summit Partners and Blackstone. TA’s 2021 highlights included a double fundraise – $12.5 billion for TA XIV and $1.5 billion for Select Opportunities Fund II – and investments north of $5 billion in over 20 deals. Notably, TA achieved a record sum in proceeds via the IPOs of Auction Technology Group and ZoomInfo.
Impact Investment Firm of the Year
2. Bain Capital Double Impact
3. LeapFrog Investments
TPG once again holds the trophy for this category, following its first win in 2017. It comes as no surprise – TPG’s Rise Funds delivered about $3.3 billion worth of impact through carbon reduction, access to education, reduced poverty through financial inclusion, conservation, healthcare, and community wellness programmes in fiscal 2020. Notable deals included Greenhouse Software, Rad Power Bikes, Africa Airtel and LIVEKINDLY. It also launched the Rise Climate fund in early 2021, securing $5.4 billion on its first close in July.