In a recent blog I looked at the breakdown of private equity fund managers by region and found that, whilst private equity is a global phenomenon, North America is clearly the most popular base for private equity fund managers.
Following on from this I thought it would be interesting to look into which cities play host to the most private equity fund managers and unsurprisingly found that North America once again dominated the results.
New York is home to the largest number of private equity firms globally, with 445 active firms currently based there, and $633 billion in private equity funds being raised over the past 10 years. New York is followed by London, with the 279 firms based in the city having raised $337 billion in private equity funds during the last 10 years, cementing the position of both New York and London as two of the financial capitals of the world.
Following on from this, there are currently 122 private equity firms based in San Francisco and 114 based in Boston, having raised $75 billion and $186 billion respectively during the past 10 years. Additionally, there are 111 active private equity firms based in Paris, having raised $70 billion in the last 10 years, and 102 firms based in Chicago, with $71 billion raised in funds during the last 10 years.
We then see the emergence of Silicon Valley, with 90 private equity firms currently based in Menlo Park and 62 active fund managers based in Palo Alto, having raised $103 billion and $42 billion respectively during the last 10 years.
Two more North American cities complete the list of 10 largest cities globally by number of firms, with 61 firms based in Toronto and 55 private equity fund managers based in Los Angeles, having raised $18 billion and $84 billion respectively during the last 10 years.
The private equity industry is becoming increasingly global; however, North America remains the most prominent hub for private equity firms worldwide, with eight out of 10 of the largest cities, by number of private equity firms, located in the region.
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