There are currently 474 private equity fund managers headquartered in the UK, according to Preqin’s Fund Managers Profiles
. These firms have collectively raised approximately €280bn in aggregate capital commitments in the last 10 years and have approximately €75bn in estimated dry powder available for investment. With regards to headquarter location, 381 firms are based in London, representing 80% of all private equity firms based in the UK.
The top five UK-based private equity fund managers, with regards to total capital raised in the last 10 years, are CVC Capital Partners, Apax Partners, Permira, BC Partners and Cinven. All of these firms are headquartered in London, invest in a diverse range of industries globally, and consider buyout as their main investment strategy.
CVC Capital Partners has 20 offices across Europe, Asia and the US. The firm targets companies with leading market positions and positive cash-flows in these geographic locations, and prefers to acquire controlling or significant minority interests in portfolio companies. The target minimum equity investment is $150mn for European funds and $50mn for Asian funds. In the past decade, CVC has raised around €36bn in capital commitments and has an estimated €15bn in available dry powder.
Apax Partners is an international investment firm that shifted from a predominantly venture capital strategy to focus primarily on buyout investments, across five global growth sectors: technology & telecommunications, media, consumer & retail, healthcare, and financial & business services. The firm has raised around €22bn in the last 10 years, with an estimated €6bn in dry powder.
Permira is a private equity firm that primarily targets Europe-based investments, but also has a global reach that spans Asia and the US. The firm is interested in investing in diverse sectors, including consumer products & services, healthcare, industrials, financial services, and TMT industries. Permira has raised around €17bn over the past 10 years, and has an estimated €3bn in dry powder.