Private equity is an increasingly global phenomenon; however, the large majority of private equity firms are based in the US. This blog will examine where exactly in the US these private equity firms are based. Using Preqin’s Fund Manager Profiles product, we compiled a list of the top 10 US cities by number of private equity firms.
The US city with the largest number of private equity firms, is New York, with 471 active firms and $646 billion in total private equity funds raised over the past 10 years. The 118 private equity firms headquartered in San Francisco have raised $80 billion over the past decade, making it the second most populated city in the US. And the third most populated city is Chicago, with 110 firms having raised $75 billion over the past 10 years.
109 Boston-based firms have raised an aggregate $196 billion in the past decade, making it the fifth largest US city, by number of private equity firms. Silicon Valley’s Menlo Park and Palo Alto rank fifth and sixth with 80 and 62 private equity firms, respectively. Menlo Park-based firms have raised more than double their Bay Area neighbours over the past 10 years however, having garnered $103 billion compared to the $41 billion raised by Palo Alto-based firms. Los Angeles is seventh in the list, with 55 private equity firms responsible for an aggregate $86 billion of private equity capital.
Texan cities Dallas and Houston are eight and ninth in the rankings. 53 firms are based in Dallas, compared with 43 in Houston; however Houston has accumulated more capital over the past 10 years, with an aggregate of $22 billion. Completing the table, 36 current private equity firms call Greenwich, Connecticut home and they have raised an aggregate $40 billion in private equity capital over the past decade.
All information for these listings is taken from our fund manager profiles. For more information please visit our Fund Manager Profiles.