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The Top 10 Private Equity Firms – September 2013

by Kamarl Simpson

  • 06 Sep 2013
  • PE

Excluding private equity real estate, infrastructure, fund of funds, secondaries, separate accounts and co-investment multi-manager funds, Preqin data shows almost $2.8tn has been raised by all private equity firms over the last decade. This total includes capital raised by funds currently in market that have held at least one interim close. Of the total capital raised in the last decade, just the top 10 largest private equity firms combined account for a substantial 18% ($496bn).

The top 10 private equity firms by capital raised in the last 10 years are Blackstone Group, TPG, Goldman Sachs, Kohlberg Kravis Roberts, Carlyle Group, Oaktree Capital Management, Bain Capital, CVC Capital Partners, Apollo Global Management and Warburg Pincus.

Blackstone Group, combined with its credit investment arm GSO Capital Partners, has raised $58.3bn in the last 10 years. Blackstone Group’s private equity activity is focused typically on carrying out leveraged buyout acquisitions of seasoned companies, transactions involving growth equity or start-up businesses in established industries, minority investments, corporate partnerships, distressed debt, structured securities and industry consolidations in a wide variety of industries and geographies. The most recent fund from the buyout series managed by Blackstone Group is Blackstone Capital Partners VI; the global buyout fund raised $16.2bn in 2010, surpassing its $15bn target, its predecessor closed in 2006, having raised $21.7bn, and is the largest private equity fund to close in the last decade.

TPG has raised $57.5bn in capital commitments over the last decade; this includes capital raised by TPG Biotech, the life science venture investment arm of TPG; Castlelake, formerly known as TPG Credit Management; and Aqua International. TPG manages a family of funds including private equity, venture capital, public equity and debt investing. TPG Partners VI is the largest fund raised by the firm in the last 10 years, with commitments totalling $18.9bn for buyout investments primarily in the regions of North America, Europe and Asia, with a preference for the technology and telecoms industries.

Goldman Sachs has raised $54.4bn in capital commitments for private equity investments over the last decade. This has been raised by several divisions within the investment bank: Goldman Sachs Merchant Banking Division, Goldman Sachs & Partners, and Goldman Sachs AIMS Private Equity. The majority of this capital ($53.2bn) was raised by Goldman Sachs Merchant Banking Division. The largest fund raised by the firm in the last 10 years is GS Capital Partners VI; the global vehicle raised $20.3bn for a variety of transactions, including leveraged buyouts, recapitalizations, and growth investments to fund acquisitions or expansion.

Kohlberg Kravis Roberts (KKR) has raised $51.9bn for private equity investment in the last 10 years; this includes just shy of $1.9bn in capital raised by Accel-KKR founded by Accel Partners and KKR to focus on investment in lower-middle market software and technology-enabled service companies. KKR primarily invests via leveraged buyouts, recapitalizations, refinancing and management buyouts and also has the resources to provide growth capital. The firm engages in transactions globally across a wide variety of industries. KKR closed its KKR Asia Fund II earlier this year, having raised $6bn in total. The fund focuses on management buyouts and growth equity investments in Asia, mostly concentrating on Japan, China and Australia.

Carlyle Group has collected $51.7bn in capital commitments over the last decade, primarily for buyout and growth capital investments in Africa, Asia, Australia, Europe, North America and South America. The firm’s main areas of expertise are in the aerospace, defence, automotive transportation, consumer, retail, energy and power, infrastructure, healthcare, industrial, technology, media and telecommunications industries. Carlyle is currently raising Carlyle Partners VI targeting $10bn for buyout investments in North America.

 

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