海仕資本:全球領先300家私募股權基金榜單正式發布

每年一度的PEI300榜單新鮮出爐。該榜單通過計算過去5年募集到的資金規模,排列出全球最大的300家PE機構。全球300家PE機構基金募資數據在一定程度上有助於描繪出PE基金管理人手中到底有多少干火藥。

PEI300對於PE採取廣義的界定,包括傳統的風險基金、成長基金、併購基金及不良資產股權基金。 過去5年中,這300家PE機構共募集到 1.988萬億美元的資金,創歷史新高,這相當於意大利的GDP。而PE機構的頭部化明顯,排名前十的PE機構就募集規模就達4611億美元。

黑石再次拔得頭籌,過去5年募集資金規模高達960億美元,比第二名凱雷高出近350億美元。上榜機構的最低募資門檻為14億美元,相比2015的9.08億美元,增長了54%。進入top10的PE機構,最低募資額為320億美元,比2019年的240億美元增長了33%,頭部化趨勢進一步加強。進入top100的PE機構,最低募資額為54億美元,比2019年的46億美元增長了17%。 在PEI300中,總部在美國的機構共計201家,佔三分之二強;總部在歐洲50家,亞洲47家,拉丁美洲1家。其中top10中,有8家PE機構總部在美國,2家PE機構在歐洲。總部在中國地區(包括大陸、香港和台灣)的PE機構共計32家,比2019年增加3家。

總部在中國地區的TOP100 PE機構



美國201家 VS 中國32家

從數字對比表面看來中國PE機構的實力和美國還有很大的差距。在中國top10當中,有九家機構總部在香港。香港在PE資產管理行業的地位和獨特性還無法被取代。 不過,PEI300統計有其一定缺陷。能夠入PEI法眼的都是那些市場化、管理美元基金起家的中國PE機構。對於中國本土人民幣PE機構,特別是國有規模較大的PE機構並不在統計之中。這無形中放大了中國與美國之間的差距。 在過去的5年里,這些機構籌集了近2萬億美元。從PEI300募資金額來看,在進入並經歷covid-19大流行造成的經濟和社會創傷的過程中,PE擁有充足的資本,PE機構佔據比上一次金融危機更有利的狀況。在各國政府和企業努力應對疫情影響之際,PE在重建經濟方面有機會發揮重要作用。PE對危機不僅是解決方案的一部分,將被認為是一個重要的解決方案的一部分。

根據美國投資委員會的數據,美國PE機構持有約3.5萬家美國企業的投資,這些企業僱傭了880萬人。 值得一提的是,全球最大的資產管理公司BlackRock的PE排名大幅上升,從2019年的148名提升到2020年的第17名。 數據表明其正努力從二級市場投資加大對一級市場布局。這家從黑石獨立出來的資產管理機構,正在效仿黑石,加速成為PE及另類投資領域的一支重要力量。僅在2020年第一季度,BlackRock就募集了超過70億美元資金。在2019年第一季度和2020年第一季度之間,其管理的另類資產佔總資產的比例從2.5%上升到3.1%。

BlackRock董事長兼首席執行官拉里•芬克(Larry Fink)在公司第一季度業績電話會議上表示:“在流動性不足的另類投資領域,我們實際上比以往任何時候都更深入、更長、更廣泛地與投資者對話。”在全球流動性泛濫和低利率甚至負利率環境下,機構投資者加大包括PE在內的另類投資資產配置成為不可扭轉的趨勢。另類投資不再另類。 PEI300上榜機構的手中擁有創紀錄的1.988萬億美元。新冠危機給上榜機構帶來投資機會的同時,這些上榜機構之間的競爭也越發激烈。優質資產荒將進一步加劇。

難怪連巴菲特都抱怨:PE的競爭使得優質資產價格高得離譜。手握超過1000億美元的巴菲特也難以找到合適的投資標的。

PEI300榜單詳表

排名機構名稱總部所在地
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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