This highly anticipated list has quickly become an industry benchmark as the PEI 300 is the only global “apples-toapples” comparison of private equity direct investment programmes. Measuring capital raised over the preceding five-year period, the PEI 300 reflects an industry that has undergone dramatic shifts and evolution.
Launched in 2007, the PEI 300 has tracked firms during the private equity industry’s biggest boom-phase as well as the period of great volatility and uncertainty that followed the credit collapse and global financial crisis. That dark period was marked by a dearth of deal activity, scores of distressed portfolio companies and widespread fund write-downs, all of which fuelled intense scrutiny as to whether the private equity model still worked.
While the industry thankfully turned a corner in 2010, fundraising has remained incredibly tough, with many firms opting to put off new offerings until absolutely necessary. Readers perhaps won’t find it hard to believe this is the second year in a row that the five-year fundraising total of the PEI 300’s top 50 firms has shrunk.