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 |
| 1 | Blackstone | New York, United States |
| 2 | The Carlyle Group | Washington DC, United States |
| 3 | KKR | New York, United States |
| 4 | TPG | Fort Worth, United States |
| 5 | Warburg Pincus | New York, United States |
| 6 | NB Alternatives | New York, United States |
| 7 | CVC Capital Partners | Luxembourg, Luxembourg |
| 8 | EQT | Stockholm, Sweden |
| 9 | Advent International | Boston, United States |
| 10 | Vista Equity Partners | Austin, United States |
| 11 | Leonard Green & Partners | Los Angeles, United States |
| 12 | Cinven | London, United Kingdom |
| 13 | Bain Capital | Boston, United States |
| 14 | Apollo Global Management | New York, United States |
| 15 | Thoma Bravo | Chicago, United States |
| 16 | Insight Partners | New York, United States |
| 17 | BlackRock | New York, United States |
| 18 | General Atlantic | New York, United States |
| 19 | Permira Advisers | London, United Kingdom |
| 20 | Brookfield Asset Management | Toronto, Canada |
| 21 | EnCap Investments | Houston, United States |
| 22 | Francisco Partners | San Francisco, United States |
| 23 | Platinum Equity | Beverly Hills, United States |
| 24 | Hillhouse Capital Group | Hong Kong, Hong Kong |
| 25 | Partners Group | Baar-Zug, Switzerland |
| 26 | Ardian | Paris, France |
| 27 | PAI Partners | Paris, France |
| 28 | Hellman & Friedman | San Francisco, United States |
| 29 | Ares Management | Los Angeles, United States |
| 30 | Clearlake Capital Group | Santa Monica, United States |
| 31 | Stone Point Capital | Greenwich, United States |
| 32 | Bridgepoint | London, United Kingdom |
| 33 | Silver Lake | Menlo Park, United States |
| 34 | TA Associates | Boston, United States |
| 35 | BC Partners | London, United Kingdom |
| 36 | MBK Partners | Seoul, South Korea |
| 37 | Baring Private Equity Asia | Hong Kong, Hong Kong |
| 38 | Genstar Capital | San Francisco, United States |
| 39 | BDT Capital Partners | Chicago, United States |
| 40 | American Securities | New York, United States |
| 41 | L Catterton | Greenwich, United States |
| 42 | Apax Partners | London, United Kingdom |
| 43 | NGP Energy Capital Management | Irving, United States |
| 44 | Eurazeo | Paris, France |
| 45 | Quantum Energy Partners | Houston, United States |
| 46 | Clayton, Dubilier & Rice | New York, United States |
| 47 | Goldman Sachs Merchant Banking Division | New York, United States |
| 48 | H.I.G. Capital | Miami, United States |
| 49 | Riverstone Holdings | New York, United States |
| 50 | PAG | Hong Kong, Hong Kong |
| 51 | Veritas Capital | New York, United States |
| 52 | Tiger Global Management | New York, United States |
| 53 | Summit Partners | Boston, United States |
| 54 | Madison Dearborn Partners | Chicago, United States |
| 55 | Adams Street Partners | Chicago, United States |
| 56 | AEA Investors | New York, United States |
| 57 | Onex | Toronto, Canada |
| 58 | Sequoia Capital | Menlo Park, United States |
| 59 | Oaktree Capital Management | Los Angeles, United States |
| 60 | HarbourVest Partners | Boston, United States |
| 61 | Roark Capital Group | Atlanta, United States |
| 62 | Investindustrial | London, United Kingdom |
| 63 | Providence Equity Partners | Providence, United States |
| 64 | Astorg Partners | Paris, France |
| 65 | Welsh, Carson, Anderson & Stowe | New York, United States |
| 66 | CPE | Beijing, China |
| 67 | New Enterprise Associates | Chevy Chase, United States |
| 68 | Audax Group | Boston, United States |
| 69 | KPS Capital Partners | New York, United States |
| 70 | Energy Capital Partners | Summit, United States |
| 71 | Triton Partners | London, United Kingdom |
| 72 | Morgan Stanley Investment Management | New York, United States |
| 73 | Lindsay Goldberg | New York, United States |
| 74 | New Mountain Capital | New York, United States |
| 75 | IK Investment Partners | London, United Kingdom |
| 76 | TSG Consumer Partners | San Francisco, United States |
| 77 | Oak Hill Capital Partners | New York, United States |
| 78 | Andreessen Horowitz | Menlo Park, United States |
| 79 | Affinity Equity Partners | Hong Kong, Hong Kong |
| 80 | Kelso & Company | New York, United States |
| 81 | Harvest Partners | New York, United States |
| 82 | CDH Investments | Hong Kong, Hong Kong |
| 83 | Castlelake | Minneapolis, United States |
| 84 | China Everbright Limited | Hong Kong, Hong Kong |
| 85 | Berkshire Partners | Boston, United States |
| 86 | Thomas H. Lee Partners | Boston, United States |
| 87 | TDR Capital | London, United Kingdom |
| 88 | Hg | London, United Kingdom |
| 89 | Cerberus Capital Management | New York, United States |
| 90 | Sycamore Partners | New York, United States |
| 91 | GCM Grosvenor | Chicago, United States |
| 92 | Accel | Palo Alto, United States |
| 93 | Montagu Private Equity | London, United Kingdom |
| 94 | GTCR | Chicago, United States |
| 95 | CITIC Capital | Hong Kong, Hong Kong |
| 96 | Great Hill Partners | Boston, United States |
| 97 | Equistone Partners Europe | London, United Kingdom |
| 98 | Hamilton Lane | Bala Cynwyd, United States |
| 99 | TCV | Palo Alto, United States |
| 100 | KSL Capital Partners | Denver, United States |
| 101 | Primavera Capital Group | Beijing, China |
| 102 | Nordic Capital | Stockholm, Sweden |
| 103 | Inflexion Private Equity | London, United Kingdom |
| 104 | Crestview Partners | New York, United States |
| 105 | Searchlight Capital Partners | New York, United States |
| 106 | Siris Capital Group | New York, United States |
| 107 | American Industrial Partners | New York, United States |
| 108 | Lightspeed Venture Partners | Menlo Park, United States |
| 109 | RRJ Capital | Hong Kong, Hong Kong |
| 110 | Kohlberg & Company | Mount Kisco, United States |
| 111 | Norwest Venture Partners | Palo Alto, United States |
| 112 | China Renaissance Group | Beijing, China |
| 113 | Hahn & Co. | Seoul, South Korea |
| 114 | Arsenal Capital Partners | New York, United States |
| 115 | SSG Capital Management | Hong Kong, Hong Kong |
| 116 | TowerBrook Capital Partners | New York, United States |
| 117 | Battery Ventures | Boston, United States |
| 118 | Pamplona Capital Management | London, United Kingdom |
| 119 | Waterland Private Equity Investments | Bussum, Netherlands |
| 120 | Pacific Equity Partners | Sydney, Australia |
| 121 | Kayne Anderson Capital Advisors | Los Angeles, United States |
| 122 | Altas Partners | Toronto, Canada |
| 123 | Littlejohn & Co | Greenwich, United States |
| 124 | Trilantic Capital Partners North America | New York, United States |
| 125 | The Energy & Minerals Group | Houston, United States |
| 126 | IDG Capital | Beijing, China |
| 127 | GGV Capital | Menlo Park, United States |
| 128 | Hermes GPE | London, United Kingdom |
| 129 | Marlin Equity Partners | Hermosa Beach, United States |
| 130 | The Jordan Company | New York, United States |
| 131 | Boyu Capital | Hong Kong, Hong Kong |
| 132 | Bessemer Venture Partners | Redwood City, United States |
| 133 | Lime Rock Partners | Westport, United States |
| 134 | IMM Private Equity | Seoul, South Korea |
| 135 | Valor Equity Partners | Chicago, United States |
| 136 | One Equity Partners | New York, United States |
| 137 | The Riverside Company | New York, United States |
| 138 | Charterhouse Capital Partners | London, United Kingdom |
| 139 | Odyssey Investment Partners | New York, United States |
| 140 | Ridgemont Equity Partners | Charlotte, United States |
| 141 | Gryphon Investors | San Francisco, United States |
| 142 | Cortec Group | New York, United States |
| 143 | HGGC | Palo Alto, United States |
| 144 | Accel-KKR | Menlo Park, United States |
| 145 | Lenovo Group | Hong Kong, Hong Kong |
| 146 | Rothschild Merchant Banking | Paris, France |
| 147 | Hony Capital | Beijing, China |
| 148 | SK Capital Partners | New York, United States |
| 149 | Olympus Partners | Stamford, United States |
| 150 | Parthenon Capital Partners | Boston, United States |
| 151 | Vivo Capital | Palo Alto, United States |
| 152 | Aquiline Capital Partners | New York, United States |
| 153 | Flexpoint Ford | Chicago, United States |
| 154 | Rhône Group | New York, United States |
| 155 | Founders Fund | San Francisco, United States |
| 156 | Tailwind Capital Partners | New York, United States |
| 157 | IVP | Menlo Park, United States |
| 158 | Index Ventures | Geneva, Switzerland |
| 159 | ACON Investments | Washington, D.C., United States |
| 160 | Altor Equity Partners | Stockholm, Sweden |
| 161 | FountainVest Partners | Hong Kong, Hong Kong |
| 162 | Apax Partners SAS | Paris, France |
| 163 | Vitruvian Partners | London, United Kingdom |
| 164 | Sapphire Ventures | Palo Alto, United States |
| 165 | Cornell Capital | New York, United States |
| 166 | ICONIQ Capital | San Francisco, United States |
| 167 | GI Partners | San Francisco, United States |
| 168 | Charlesbank Capital Partners | Boston, United States |
| 169 | Patria Investments | Sao Paulo, Brazil |
| 170 | Court Square | New York, United States |
| 171 | Aurora Capital Partners | Los Angeles, United States |
| 172 | Deutsche Beteiligungs AG | Frankfurt, Germany |
| 173 | Ridgewood Energy | Montvale, United States |
| 174 | ABRY Partners | Boston, United States |
| 175 | Sentinel Capital Partners | New York, United States |
| 176 | Oakley Capital Private Equity | London, United Kingdom |
| 177 | Frazier Healthcare Partners | Seattle, United States |
| 178 | Pantheon | London, United Kingdom |
| 179 | Lovell Minnick Partners | Radnor, United States |
| 180 | Vertex Holdings | Singapore, Singapore |
| 181 | DCP Capital | Beijing, China |
| 182 | YunFeng Capital | Shanghai, China |
| 183 | Five Point Energy | Houston, United States |
| 184 | Trustbridge Partners | Shanghai, China |
| 185 | Alvarez & Marsal Capital Partners | Greenwich, United States |
| 186 | Thrivent Financial | Minneapolis, United States |
| 187 | Arlington Capital Partners | Chevy Chase, United States |
| 188 | Nautic Partners | Providence, United States |
| 189 | IFC Asset Management Company | Washington, DC, United States |
| 190 | Sun Capital Partners | Boca Raton, United States |
| 191 | Vistria Group | Chicago, United States |
| 192 | AE Industrial Partners | Boca Raton, United States |
| 193 | Spark Capital | Boston, United States |
| 194 | EMR Capital | Hong Kong, Hong Kong |
| 195 | Pamlico Capital | Charlotte, United States |
| 196 | Birch Hill Equity Partners | Toronto, Canada |
| 197 | Tailwater Capital | Dallas, United States |
| 198 | Flagship Pioneering | Cambridge, United States |
| 199 | Wynnchurch Capital | Rosemont, United States |
| 200 | Qiming Venture Partners | Shanghai, China |
| 201 | NovaQuest Capital Management | Raleigh, United States |
| 202 | General Catalyst Partners | Cambridge, United States |
| 203 | Denham Capital Management | Boston, United States |
| 204 | CMC Capital Partners | Beijing, China |
| 205 | JP Morgan Asset Management | New York, United States |
| 206 | GHO Capital Partners | London, United Kingdom |
| 207 | Linden Capital Partners | Chicago, United States |
| 208 | Eagletree Capital | New York, United States |
| 209 | Gaorong Capital | Beijing, China |
| 210 | The Abraaj Group | Dubai, United Arab Emirates |
| 211 | LLR Partners | Philadelphia, United States |
| 212 | Coatue Management | New York, United States |
| 213 | Shunwei Capital Partners | Beijing, China |
| 214 | Matrix Partners | San Francisco, United States |
| 215 | BGH Capital | Melbourne, Australia |
| 216 | Incline Equity Partners | Pittsburgh, United States |
| 217 | RoundShield Partners | London, United Kingdom |
| 218 | FFL Partners | San Francisco, United States |
| 219 | Kimmeridge | New York, United States |
| 220 | Centurium Capital | Beijing, China |
| 221 | Hopu Investment Management | Beijing, China |
| 222 | Russian Direct Investment Fund | Moscow, Russia |
| 223 | Andera Partners | Paris, France |
| 224 | CBC Group | Singapore, Singapore |
| 225 | Georgian Partners | Toronto, Canada |
| 226 | Bernhard Capital Partners | Baton Rouge, United States |
| 227 | FTV Capital | San Francisco, United States |
| 228 | Novacap | Longueuil, Canada |
| 229 | Yorktown Partners | New York, United States |
| 230 | Quadrant Private Equity | Sydney, Australia |
| 231 | Cathay Capital Private Equity | Paris, France |
| 232 | Kinderhook Industries | New York, United States |
| 233 | Freeman Spogli & Co | Los Angeles, United States |
| 234 | OrbiMed Advisors | New York, United States |
| 235 | Old Ironsides Energy | Boston, United States |
| 236 | BV Investment Partners | Boston, United States |
| 237 | Vestar Capital Partners | New York, United States |
| 238 | The Edgewater Funds | Chicago, United States |
| 239 | The Raine Group | New York, United States |
| 240 | China Life Investment Holding Company | Beijing, China |
| 241 | Menlo Ventures | Menlo Park, United States |
| 242 | BlackFin Capital Partners | Paris, France |
| 243 | Gridiron Capital | New Canaan, United States |
| 244 | Thompson Street Capital Partners | St. Louis, United States |
| 245 | Exponent Private Equity | London, United Kingdom |
| 246 | Redpoint China Ventures | Menlo Park, United States |
| 247 | Marunouchi Capital | Tokyo, Japan |
| 248 | Carnelian Energy Capital | Houston, United States |
| 249 | GSR Ventures | Beijing, China |
| 250 | JAFCO | Tokyo, Japan |
| 251 | Livingbridge | London, United Kingdom |
| 252 | Torquest Partners | Toronto, Canada |
| 253 | ARC Financial Corp. | Calgary, Canada |
| 254 | Värde Partners | Minneapolis, United States |
| 255 | J.F. Lehman & Company | New York, United States |
| 256 | Advantage Partners | Tokyo, Japan |
| 257 | Stirling Square Capital Partners | London, United Kingdom |
| 258 | Digital Sky Technologies (DST) | Moscow, Russia |
| 259 | Reverence Capital Partners | New York, United States |
| 260 | Thrive Capital | New York, United States |
| 261 | Peppertree Capital Management | Chagrin Falls, United States |
| 262 | Fondo FSI | Milan, Italy |
| 263 | JLL Partners | New York, United States |
| 264 | STIC Investments | Seoul, South Korea |
| 265 | Revelstoke Capital Partners | Denver, United States |
| 266 | Rocket Internet | Berlin, Germany |
| 267 | Atlas Holdings | Greenwich, United States |
| 268 | HTC Corp. | Taipei, Taiwan |
| 269 | Main Post Partners | San Francisco, United States |
| 270 | Morningside Venture Capital | Shanghai, China |
| 271 | VMG Partners | San Francisco, United States |
| 272 | Norwest Equity Partners | Minneapolis, United States |
| 273 | Ping An Capital | Shanghai, China |
| 274 | Palladium Equity Partners | New York, United States |
| 275 | Paine Schwartz Partners | San Mateo, United States |
| 276 | DCM Ventures | Menlo Park, United States |
| 277 | Alpine Investors | San Francisco, United States |
| 278 | Trive Capital | Dallas, United States |
| 279 | GoldPoint Partners | New York, United States |
| 280 | MSouth Equity Partners | Atlanta, United States |
| 281 | Foresite Capital Management | San Francisco, United States |
| 282 | AnaCap Financial Partners | London, United Kingdom |
| 283 | Foundry Group | Boulder, United States |
| 284 | Bregal Investments | New York, United States |
| 285 | Arcline Investment Management | San Francisco, United States |
| 286 | Altaris Capital Partners | New York, United States |
| 287 | ChrysCapital | Mumbai, India |
| 288 | MidOcean Partners | New York, United States |
| 289 | Multiples Alternate Asset Management | Mumbai, India |
| 290 | Data Collective | San Francisco, United States |
| 291 | Capvis Equity Partners | Baar, Switzerland |
| 292 | Trident Capital | San Mateo, United States |
| 293 | Portobello Capital | Madrid, Spain |
| 294 | Mayfair Equity Partners | London, United Kingdom |
| 295 | VIG Partners | Seoul, South Korea |
| 296 | Wellspring Capital Management | New York, United States |
| 297 | Atlas Merchant Capital | New York, United States |
| 298 | Wind Point Partners | Chicago, United States |
| 299 | Vector Capital | San Francisco, United States |
| 300 | Summa Equity | Stockholm, Sweden |
