May 8, 2024

The World's Largest Private Equity Firms

What We’re Showing

The world’s largest private equity firms by capital raised over the last five years.

Figures are as of March 31, 2023 and are based on data from Private Equity International.

Real Estate Titan Blackstone on Top

Private equity giant Blackstone is the largest globally, raising over $125.6 billion in capital in the past five years. It is also one of the largest real estate investors globally. Headquartered in New York, Blackstone's Real Estate Income Trust (BREIT) has averaged 11% in annualized returns net of fees since inception seven years ago. This performance exceeds publicly traded REITs by more than twofold. Blackstone’s total assets under management stood at $991 billion as of the first quarter of 2023, and have since surpassed $1 trillion this year.

U.S. Dominance in Private Equity

Overall, U.S. firms make up 36 of the world’s top 50 private equity firms, together amassing $1.4 trillion in capital raised these past five years.

Europe was the second-largest market, with firms largely clustered in London.

Dataset

Rank	Private Equity Fund	City	Amount Raised (2018-2023)
1	Blackstone	New York	$125.6
2	KKR	New York	$103.7
3	EQT	Stockholm	$101.7
4	Thoma Bravo	Chicago	$74.1
5	The Carlyle Group	Washington DC	$69.7
6	TPG	Fort Worth	$55.0
7	Advent International	Boston	$52.9
8	Hg	London	$51.0
9	General Atlantic	New York	$48.7
10	Warburg Pincus	New York	$48.5
11	Silver Lake	Menlo Park	$48.3
12	Goldman Sachs	New York	$45.4
13	Bain Capital	Boston	$44.3
14	Clearlake Capital Group	Santa Monica	$44.0
15	CVC Capital Partners	Luxembourg	$41.8
16	Vista Equity Partners	Austin	$41.5
17	Clayton, Dubilier & Rice	New York	$41.1
18	Hellman & Friedman	San Francisco	$40.9
19	Insight Partners	New York	$40.2
20	Leonard Green & Partners	Los Angeles	$39.6
21	Permira Advisers	London	$34.8
22	Cinven	London	$32.7
23	Brookfield Asset Management	Toronto	$31.2
24	Nordic Capital	Saint Helier	$31.1
25	Genstar Capital	San Francisco	$29.9
26	Francisco Partners	San Francisco	$28.3
27	Tiger Global Management	New York	$28.3
28	Blue Owl Capital	New York	$27.2
29	Partners Group	Zug	$26.7
30	Ares Management	Los Angeles	$26.6
31	Hillhouse Capital Group	Hong Kong	$26.4
32	L Catterton	Greenwich	$24.1
33	Neuberger Berman Private Markets	New York	$23.7
34	PAI Partners	Paris	$23.7
35	TA Associates	Boston	$23.5
36	Apollo Global Management	New York	$22.8
37	Stone Point Capital	Greenwich	$22.3
38	BC Partners	London	$20.3
39	Adams Street Partners	Chicago	$20.2
40	BlackRock	New York	$19.9
41	BDT & MSD Partners	Chicago	$19.5
42	Veritas Capital	New York	$19.0
43	Bridgepoint	London	$18.0
44	Ardian	Paris	$17.9
45	HarbourVest Partners	Boston	$17.5
46	China Reform Fund Management Corporation	Beijing	$16.8
47	Andreessen Horowitz	Menlo Park	$16.7
48	Thomas H. Lee Partners	Boston	$16.0
49	Summit Partners	Boston	$16.0
50	PSG Equity	Boston	$15.8