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Top Five Private Equity Managers based in the US

by Louise Maddy

  • 04 May 2011
  • PE

Preqin’s FMP product, analysing all private equity fund types excluding real estate and infrastructure, reveals there are 3,099 private equity fund managers based in North America of which 2,913 are based in the US. Private equity fund managers have raised a total of $1.6 trillion over the past 10 years and have an estimated $494.7 billion in available dry powder. In terms of total capital raised, the top five fund managers headquartered in the US are Goldman Sachs, TPG, Blackstone Group, Carlyle Group and Kohlberg Kravis Roberts.

Goldman Sachs is the largest US-based private equity firm. Based in the New York, the firm raises primary funds and funds of funds and is an active investor in private equity funds, a co-investor in direct investments, and an active buyer of secondary interests in existing private equity funds. The firm focuses on private equity investments in leveraged buyouts, growth financings, natural resources, venture capital and distressed securities in a variety of industries and locations. The firm have raised a total of $75 billion in the past 10 years and currently has over $29.7 billion in available dry powder.

TPG, formerly known as Texas Pacific Group, is a global private equity firm headquartered in Fort Worth, Texas. The firm manages a family of funds including private equity, venture capital, public equity and debt investing. Its investment philosophy inovolves investing in change created by industry trends, economic cycles or specific company circumstances. TPG invests in companies across a broad range of industries, geographies and economic environments. It has raised nearly $51 billion in the last 10 years and currently has $14.9 billion in dry powder.

Blackstone Group is the third-largest private equity firm based in the US, having raised $49.9 billion in the last 10 years, and is headquartered in New York. The private equity firm typically carries out leveraged buyout acquisitions of seasoned companies. It undertakes 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. Shanghai Blackstone Equity Investment Partnership is a buyout fund currently being raised by Blackstone that reached a first close last month and is targeting ¥5 billion.

Carlyle Group and Kohlberg Kravis Roberts are the final two of the top five funds managers based in the US. They have raised $48.6 billion and $48.2 billion respectively over the last 10 years. Founded in 1987, Carlyle Group has 19 offices worldwide and over 60 funds spanning four investment areas: buyout, growth capital, real estate and leveraged finance. The firm have a global reach, investing in Africa, Asia, Australia, Europe, North America and South America. Kohlberg Kravis Roberts is headquartered in New York and invests in leveraged buyouts, recapitalizations, refinancing and management buyouts in a diverse range of industries and locations. The firm is currently raising, amongst others, the KKR North American XI Fund which is a buyout fund targeting $10 billion in investor commitments.

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