Blog

US-Based Private Equity Firms

by Siobhan Brewster

  • 23 Jun 2010
  • PE

Private equity is an increasingly global industry, 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 484 active firms that have raised an aggregate $625 billion in private equity funds over the past 10 years. 122 private equity firms are headquartered in San Francisco and the same number are headquartered in Chicago meaning that these two cities are the second most populated in terms of private equity firms.  Preqin data reveals that private equity firms based in San Francisco have raised $76 billion over the past decade while those based in Chicago have raised just under $70 billion.

114 Boston-based firms have raised an aggregate $191 billion in the past decade making it the fourth largest US city, by number of private equity firms. Silicon Valley’s Menlo Park and Palo Alto rank fifth and sixth with 82 and 61 private equity firms, respectively. Menlo Park-based firms have raised more than double their Bay Area neighbours over the past 10 years, having garnered $92 billion compared to the $38 billion raised by Palo Alto-based firms. Los Angeles is the third Californian city to make it into the top 10 US cities by the number of private equity firms. Los Angeles shares sixth place with Palo Alto on the list, with 61 private equity firms responsible for an aggregate $92 billion of private equity capital.

Texan cities Dallas and Houston are eight and ninth in the rankings. There are 56 firms based in Dallas, compared with 46 in Houston, however, Houston-based firms have received more capital commitments over the past 10 years, having raised an aggregate $24 billion. Completing the table, 38 private equity firms call Greenwich, Connecticut home and such firms have raised an aggregate $38 billion in private equity capital over the past decade.

For more information on private equity fund managers on a global basis, please see Preqin's Fund Manager Profiles.

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