The Zürich-based private equity fund of funds manager has shifted its North America presence to Chicago following the closure of its New York office in August. Capvent, which manages private equity assets of approximately $2.2 billion, has several offices in India and is planning to establish a base in Shanghai in the coming months. The firm’s vice president, Eric Oberfield, is responsible for its private equity activity in North America.
Preqin’s Investor Intelligence database shows that New York and Chicago are the most popular US cities in terms of the location of firms managing private equity funds of funds. The headquarters of 34 such firms are based in the city of New York while 12 are located in Chicago (a further two are located elsewhere in the state of Illinois). San Francisco is the primary base for 10 fund of funds managers, with California hosting 31 in total. The states of Connecticut, Massachusetts and Pennsylvania are each home to 11 firms that manage private equity funds of funds.
A considerable number of fund of funds managers (50) with headquarters located elsewhere have secondary offices in New York City. More than half (27) of these private equity investors originate from outside of the US; 21 have headquarters in Europe. In addition to Capvent, four fund of funds managers that are primarily based outside of Illinois have secondary offices in the state.
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