海仕国际:全球领先300家私募股权基金榜单

每年一度的PEI300榜单新鲜出炉。该榜单通过计算过去5年募集到的资金规模,排列出全球最大的300家PE机构。全球300家PE机构基金募资数据在一定程度上有助于描绘出PE基金管理人手中到底有多少干火药。

PEI300对于PE采取广义的界定,包括传统的风险基金、成长基金、并购基金及不良资产股权基金。 过去5年中,这300家PE机构共募集到 1.988万亿美元的资金,创历史新高,这相当于意大利的GDP。而PE机构的头部化明显,排名前十的PE机构就募集规模就达4611亿美元。

黑石再次拔得头筹,过去5年募集资金规模高达960亿美元,比第二名凯雷高出近350亿美元。上榜机构的最低募资门槛为14亿美元,相比2015的9.08亿美元,增长了54%。进入top10的PE机构,最低募资额为320亿美元,比2019年的240亿美元增长了33%,头部化趋势进一步加强。进入top100的PE机构,最低募资额为54亿美元,比2019年的46亿美元增长了17%。 在PEI300中,总部在美国的机构共计201家,占三分之二强;总部在欧洲50家,亚洲47家,拉丁美洲1家。其中top10中,有8家PE机构总部在美国,2家PE机构在欧洲。总部在中国地区(包括大陆、香港和台湾)的PE机构共计32家,比2019年增加3家。

总部在中国地区的TOP100 PE机构

美国201家 VS 中国32家

从数字对比表面看来中国PE机构的实力和美国还有很大的差距。在中国top10当中,有九家机构总部在香港。香港在PE资产管理行业的地位和独特性还无法被取代。 不过,PEI300统计有其一定缺陷。能够入PEI法眼的都是那些市场化、管理美元基金起家的中国PE机构。对于中国本土人民币PE机构,特别是国有规模较大的PE机构并不在统计之中。这无形中放大了中国与美国之间的差距。 在过去的5年里,这些机构筹集了近2万亿美元。从PEI300募资金额来看,在进入并经历covid-19大流行造成的经济和社会创伤的过程中,PE拥有充足的资本,PE机构占据比上一次金融危机更有利的状况。在各国政府和企业努力应对疫情影响之际,PE在重建经济方面有机会发挥重要作用。PE对危机不仅是解决方案的一部分,将被认为是一个重要的解决方案的一部分。

根据美国投资委员会的数据,美国PE机构持有约3.5万家美国企业的投资,这些企业雇佣了880万人。 值得一提的是,全球最大的资产管理公司BlackRock的PE排名大幅上升,从2019年的148名提升到2020年的第17名。 数据表明其正努力从二级市场投资加大对一级市场布局。这家从黑石独立出来的资产管理机构,正在效仿黑石,加速成为PE及另类投资领域的一支重要力量。仅在2020年第一季度,BlackRock就募集了超过70亿美元资金。在2019年第一季度和2020年第一季度之间,其管理的另类资产占总资产的比例从2.5%上升到3.1%。

BlackRock董事长兼首席执行官拉里•芬克(Larry Fink)在公司第一季度业绩电话会议上表示:“在流动性不足的另类投资领域,我们实际上比以往任何时候都更深入、更长、更广泛地与投资者对话。”在全球流动性泛滥和低利率甚至负利率环境下,机构投资者加大包括PE在内的另类投资资产配置成为不可扭转的趋势。另类投资不再另类。 PEI300上榜机构的手中拥有创纪录的1.988万亿美元。新冠危机给上榜机构带来投资机会的同时,这些上榜机构之间的竞争也越发激烈。优质资产荒将进一步加剧。

难怪连巴菲特都抱怨:PE的竞争使得优质资产价格高得离谱。手握超过1000亿美元的巴菲特也难以找到合适的投资标的。

PEI300榜单详表

排名机构名称总部所在地
1BlackstoneNew York, United States
2The Carlyle GroupWashington DC, United States
3KKRNew York, United States
4TPGFort Worth, United States
5Warburg PincusNew York, United States
6NB AlternativesNew York, United States
7CVC Capital PartnersLuxembourg, Luxembourg
8EQTStockholm, Sweden
9Advent InternationalBoston, United States
10Vista Equity PartnersAustin, United States
11Leonard Green & PartnersLos Angeles, United States
12CinvenLondon, United Kingdom
13Bain CapitalBoston, United States
14Apollo Global ManagementNew York, United States
15Thoma BravoChicago, United States
16Insight PartnersNew York, United States
17BlackRockNew York, United States
18General AtlanticNew York, United States
19Permira AdvisersLondon, United Kingdom
20Brookfield Asset ManagementToronto, Canada
21EnCap InvestmentsHouston, United States
22Francisco PartnersSan Francisco, United States
23Platinum EquityBeverly Hills, United States
24Hillhouse Capital GroupHong Kong, Hong Kong
25Partners GroupBaar-Zug, Switzerland
26ArdianParis, France
27PAI PartnersParis, France
28Hellman & FriedmanSan Francisco, United States
29Ares ManagementLos Angeles, United States
30Clearlake Capital GroupSanta Monica, United States
31Stone Point CapitalGreenwich, United States
32BridgepointLondon, United Kingdom
33Silver LakeMenlo Park, United States
34TA AssociatesBoston, United States
35BC PartnersLondon, United Kingdom
36MBK PartnersSeoul, South Korea
37Baring Private Equity AsiaHong Kong, Hong Kong
38Genstar CapitalSan Francisco, United States
39BDT Capital PartnersChicago, United States
40American SecuritiesNew York, United States
41L CattertonGreenwich, United States
42Apax PartnersLondon, United Kingdom
43NGP Energy Capital ManagementIrving, United States
44EurazeoParis, France
45Quantum Energy PartnersHouston, United States
46Clayton, Dubilier & RiceNew York, United States
47Goldman Sachs Merchant Banking DivisionNew York, United States
48H.I.G. CapitalMiami, United States
49Riverstone HoldingsNew York, United States
50PAGHong Kong, Hong Kong
51Veritas CapitalNew York, United States
52Tiger Global ManagementNew York, United States
53Summit PartnersBoston, United States
54Madison Dearborn PartnersChicago, United States
55Adams Street PartnersChicago, United States
56AEA InvestorsNew York, United States
57OnexToronto, Canada
58Sequoia CapitalMenlo Park, United States
59Oaktree Capital ManagementLos Angeles, United States
60HarbourVest PartnersBoston, United States
61Roark Capital GroupAtlanta, United States
62InvestindustrialLondon, United Kingdom
63Providence Equity PartnersProvidence, United States
64Astorg PartnersParis, France
65Welsh, Carson, Anderson & StoweNew York, United States
66CPEBeijing, China
67New Enterprise AssociatesChevy Chase, United States
68Audax GroupBoston, United States
69KPS Capital PartnersNew York, United States
70Energy Capital PartnersSummit, United States
71Triton PartnersLondon, United Kingdom
72Morgan Stanley Investment ManagementNew York, United States
73Lindsay GoldbergNew York, United States
74New Mountain CapitalNew York, United States
75IK Investment PartnersLondon, United Kingdom
76TSG Consumer PartnersSan Francisco, United States
77Oak Hill Capital PartnersNew York, United States
78Andreessen HorowitzMenlo Park, United States
79Affinity Equity PartnersHong Kong, Hong Kong
80Kelso & CompanyNew York, United States
81Harvest PartnersNew York, United States
82CDH InvestmentsHong Kong, Hong Kong
83CastlelakeMinneapolis, United States
84China Everbright LimitedHong Kong, Hong Kong
85Berkshire PartnersBoston, United States
86Thomas H. Lee PartnersBoston, United States
87TDR CapitalLondon, United Kingdom
88HgLondon, United Kingdom
89Cerberus Capital ManagementNew York, United States
90Sycamore PartnersNew York, United States
91GCM GrosvenorChicago, United States
92AccelPalo Alto, United States
93Montagu Private EquityLondon, United Kingdom
94GTCRChicago, United States
95CITIC CapitalHong Kong, Hong Kong
96Great Hill PartnersBoston, United States
97Equistone Partners EuropeLondon, United Kingdom
98Hamilton LaneBala Cynwyd, United States
99TCVPalo Alto, United States
100KSL Capital PartnersDenver, United States
101Primavera Capital GroupBeijing, China
102Nordic CapitalStockholm, Sweden
103Inflexion Private EquityLondon, United Kingdom
104Crestview PartnersNew York, United States
105Searchlight Capital PartnersNew York, United States
106Siris Capital GroupNew York, United States
107American Industrial PartnersNew York, United States
108Lightspeed Venture PartnersMenlo Park, United States
109RRJ CapitalHong Kong, Hong Kong
110Kohlberg & CompanyMount Kisco, United States
111Norwest Venture PartnersPalo Alto, United States
112China Renaissance GroupBeijing, China
113Hahn & Co.Seoul, South Korea
114Arsenal Capital PartnersNew York, United States
115SSG Capital ManagementHong Kong, Hong Kong
116TowerBrook Capital PartnersNew York, United States
117Battery VenturesBoston, United States
118Pamplona Capital ManagementLondon, United Kingdom
119Waterland Private Equity InvestmentsBussum, Netherlands
120Pacific Equity PartnersSydney, Australia
121Kayne Anderson Capital AdvisorsLos Angeles, United States
122Altas PartnersToronto, Canada
123Littlejohn & CoGreenwich, United States
124Trilantic Capital Partners North AmericaNew York, United States
125The Energy & Minerals GroupHouston, United States
126IDG CapitalBeijing, China
127GGV CapitalMenlo Park, United States
128Hermes GPELondon, United Kingdom
129Marlin Equity PartnersHermosa Beach, United States
130The Jordan CompanyNew York, United States
131Boyu CapitalHong Kong, Hong Kong
132Bessemer Venture PartnersRedwood City, United States
133Lime Rock PartnersWestport, United States
134IMM Private EquitySeoul, South Korea
135Valor Equity PartnersChicago, United States
136One Equity PartnersNew York, United States
137The Riverside CompanyNew York, United States
138Charterhouse Capital PartnersLondon, United Kingdom
139Odyssey Investment PartnersNew York, United States
140Ridgemont Equity PartnersCharlotte, United States
141Gryphon InvestorsSan Francisco, United States
142Cortec GroupNew York, United States
143HGGCPalo Alto, United States
144Accel-KKRMenlo Park, United States
145Lenovo GroupHong Kong, Hong Kong
146Rothschild Merchant BankingParis, France
147Hony CapitalBeijing, China
148SK Capital PartnersNew York, United States
149Olympus PartnersStamford, United States
150Parthenon Capital PartnersBoston, United States
151Vivo CapitalPalo Alto, United States
152Aquiline Capital PartnersNew York, United States
153Flexpoint FordChicago, United States
154Rhône GroupNew York, United States
155Founders FundSan Francisco, United States
156Tailwind Capital PartnersNew York, United States
157IVPMenlo Park, United States
158Index VenturesGeneva, Switzerland
159ACON InvestmentsWashington, D.C., United States
160Altor Equity PartnersStockholm, Sweden
161FountainVest PartnersHong Kong, Hong Kong
162Apax Partners SASParis, France
163Vitruvian PartnersLondon, United Kingdom
164Sapphire VenturesPalo Alto, United States
165Cornell CapitalNew York, United States
166ICONIQ CapitalSan Francisco, United States
167GI PartnersSan Francisco, United States
168Charlesbank Capital PartnersBoston, United States
169Patria InvestmentsSao Paulo, Brazil
170Court SquareNew York, United States
171Aurora Capital PartnersLos Angeles, United States
172Deutsche Beteiligungs AGFrankfurt, Germany
173Ridgewood EnergyMontvale, United States
174ABRY PartnersBoston, United States
175Sentinel Capital PartnersNew York, United States
176Oakley Capital Private EquityLondon, United Kingdom
177Frazier Healthcare PartnersSeattle, United States
178PantheonLondon, United Kingdom
179Lovell Minnick PartnersRadnor, United States
180Vertex HoldingsSingapore, Singapore
181DCP CapitalBeijing, China
182YunFeng CapitalShanghai, China
183Five Point EnergyHouston, United States
184Trustbridge PartnersShanghai, China
185Alvarez & Marsal Capital PartnersGreenwich, United States
186Thrivent FinancialMinneapolis, United States
187Arlington Capital PartnersChevy Chase, United States
188Nautic PartnersProvidence, United States
189IFC Asset Management CompanyWashington, DC, United States
190Sun Capital PartnersBoca Raton, United States
191Vistria GroupChicago, United States
192AE Industrial PartnersBoca Raton, United States
193Spark CapitalBoston, United States
194EMR CapitalHong Kong, Hong Kong
195Pamlico CapitalCharlotte, United States
196Birch Hill Equity PartnersToronto, Canada
197Tailwater CapitalDallas, United States
198Flagship PioneeringCambridge, United States
199Wynnchurch CapitalRosemont, United States
200Qiming Venture PartnersShanghai, China
201NovaQuest Capital ManagementRaleigh, United States
202General Catalyst PartnersCambridge, United States
203Denham Capital ManagementBoston, United States
204CMC Capital PartnersBeijing, China
205JP Morgan Asset ManagementNew York, United States
206GHO Capital PartnersLondon, United Kingdom
207Linden Capital PartnersChicago, United States
208Eagletree CapitalNew York, United States
209Gaorong CapitalBeijing, China
210The Abraaj GroupDubai, United Arab Emirates
211LLR PartnersPhiladelphia, United States
212Coatue ManagementNew York, United States
213Shunwei Capital PartnersBeijing, China
214Matrix PartnersSan Francisco, United States
215BGH CapitalMelbourne, Australia
216Incline Equity PartnersPittsburgh, United States
217RoundShield PartnersLondon, United Kingdom
218FFL PartnersSan Francisco, United States
219KimmeridgeNew York, United States
220Centurium CapitalBeijing, China
221Hopu Investment ManagementBeijing, China
222Russian Direct Investment FundMoscow, Russia
223Andera PartnersParis, France
224CBC GroupSingapore, Singapore
225Georgian PartnersToronto, Canada
226Bernhard Capital PartnersBaton Rouge, United States
227FTV CapitalSan Francisco, United States
228NovacapLongueuil, Canada
229Yorktown PartnersNew York, United States
230Quadrant Private EquitySydney, Australia
231Cathay Capital Private EquityParis, France
232Kinderhook IndustriesNew York, United States
233Freeman Spogli & CoLos Angeles, United States
234OrbiMed AdvisorsNew York, United States
235Old Ironsides EnergyBoston, United States
236BV Investment PartnersBoston, United States
237Vestar Capital PartnersNew York, United States
238The Edgewater FundsChicago, United States
239The Raine GroupNew York, United States
240China Life Investment Holding CompanyBeijing, China
241Menlo VenturesMenlo Park, United States
242BlackFin Capital PartnersParis, France
243Gridiron CapitalNew Canaan, United States
244Thompson Street Capital PartnersSt. Louis, United States
245Exponent Private EquityLondon, United Kingdom
246Redpoint China VenturesMenlo Park, United States
247Marunouchi CapitalTokyo, Japan
248Carnelian Energy CapitalHouston, United States
249GSR VenturesBeijing, China
250JAFCOTokyo, Japan
251LivingbridgeLondon, United Kingdom
252Torquest PartnersToronto, Canada
253ARC Financial Corp.Calgary, Canada
254Värde PartnersMinneapolis, United States
255J.F. Lehman & CompanyNew York, United States
256Advantage PartnersTokyo, Japan
257Stirling Square Capital PartnersLondon, United Kingdom
258Digital Sky Technologies (DST)Moscow, Russia
259Reverence Capital PartnersNew York, United States
260Thrive CapitalNew York, United States
261Peppertree Capital ManagementChagrin Falls, United States
262Fondo FSIMilan, Italy
263JLL PartnersNew York, United States
264STIC InvestmentsSeoul, South Korea
265Revelstoke Capital PartnersDenver, United States
266Rocket InternetBerlin, Germany
267Atlas HoldingsGreenwich, United States
268HTC Corp.Taipei, Taiwan
269Main Post PartnersSan Francisco, United States
270Morningside Venture CapitalShanghai, China
271VMG PartnersSan Francisco, United States
272Norwest Equity PartnersMinneapolis, United States
273Ping An CapitalShanghai, China
274Palladium Equity PartnersNew York, United States
275Paine Schwartz PartnersSan Mateo, United States
276DCM VenturesMenlo Park, United States
277Alpine InvestorsSan Francisco, United States
278Trive CapitalDallas, United States
279GoldPoint PartnersNew York, United States
280MSouth Equity PartnersAtlanta, United States
281Foresite Capital ManagementSan Francisco, United States
282AnaCap Financial PartnersLondon, United Kingdom
283Foundry GroupBoulder, United States
284Bregal InvestmentsNew York, United States
285Arcline Investment ManagementSan Francisco, United States
286Altaris Capital PartnersNew York, United States
287ChrysCapitalMumbai, India
288MidOcean PartnersNew York, United States
289Multiples Alternate Asset ManagementMumbai, India
290Data CollectiveSan Francisco, United States
291Capvis Equity PartnersBaar, Switzerland
292Trident CapitalSan Mateo, United States
293Portobello CapitalMadrid, Spain
294Mayfair Equity PartnersLondon, United Kingdom
295VIG PartnersSeoul, South Korea
296Wellspring Capital ManagementNew York, United States
297Atlas Merchant CapitalNew York, United States
298Wind Point PartnersChicago, United States
299Vector CapitalSan Francisco, United States
300Summa EquityStockholm, Sweden

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