Markets
The Top Private Equity Firms by Country
See this visualization first on the Voronoi app.
The Top Private Equity Firms by Country
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Private equity firms are investment management companies that pool investor capital to acquire stakes in private companies. Through strategic management, they aim to enhance the value of these companies, then profit from a future sale or public offering.
To gain insight into this industry, we’ve visualized the top private equity firms in various countries, ranked by the amount of capital they raised over the past five years ending March 2023.
The cutoff for inclusion in this graphic was $9 billion raised. All figures come from Private Equity International’s PEI 300 ranking.
Data and Highlights
The data we used to create this graphic is included in the table below.
| Country | Firm | Amount raised |
|---|---|---|
| 🇺🇸 US | Blackstone | $126B |
| 🇸🇪 Sweden | EQT | $102B |
| 🇬🇧 UK | Hg | $51B |
| 🇱🇺 Luxembourg | CVC Capital Partners | $42B |
| 🇨🇦 Canada | Brookfield Asset Management | $31B |
| 🇨🇭 Switzerland | Partners Group | $27B |
| 🇭🇰 Hong Kong | Hillhouse Capital Group | $26B |
| 🇫🇷 France | PAI Partners | $24B |
| 🇨🇳 China | China Reform Fund Management Corp | $17B |
| 🇳🇱 Netherlands | Waterland Private Equity | $9B |
U.S.-based Blackstone is the world’s largest private equity firm, with operations in additional areas like credit, infrastructure, and insurance.
While not shown in this graphic, the U.S. largely dominates the private equity landscape. If we were to rank the top 10 private equity firms by the same metric (capital raised over past five years), U.S. firms would account for eight of them.
More About Blackstone
Blackstone was founded in 1985 by Peter G. Peterson and Stephen A. Schwarzman, both former Lehman Brothers employees.
Notably investments that Blackstone has made include Ancestry.com, where it acquired a majority stake for nearly $5 billion in 2020.
In 2007, it also acquired Hilton Worldwide (one of the world’s biggest hotel operators) for roughly $26 billion.
Sweden’s EQT
EQT is Sweden’s largest private equity firm, and third largest globally. It is just one of three firms that have raised over $100B in capital over the past five years alongside Blackstone and KKR (also American).
EQT made news earlier this year when it raised $24B in two years for its EQT X private equity fund, which invests in the healthcare, technology and tech-enabled service sectors.
If you found this post interesting, check out this graphic that visualizes the most common types of investments that financial advisors use with their clients.
Maps
Mapped: The 10 U.S. States With the Lowest Real GDP Growth
In this graphic, we show where real GDP lagged the most across America in 2023 as high interest rates weighed on state economies.
The Top 10 U.S. States, by Lowest Real GDP Growth
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
While the U.S. economy defied expectations in 2023, posting 2.5% in real GDP growth, several states lagged behind.
Last year, oil-producing states led the pack in terms of real GDP growth across America, while the lowest growth was seen in states that were more sensitive to the impact of high interest rates, particularly due to slowdowns in the manufacturing and finance sectors.
This graphic shows the 10 states with the least robust real GDP growth in 2023, based on data from the Bureau of Economic Analysis.
Weakest State Economies in 2023
Below, we show the states with the slowest economic activity in inflation-adjusted terms, using chained 2017 dollars:
| Rank | State | Real GDP Growth 2023 YoY | Real GDP 2023 |
|---|---|---|---|
| 1 | Delaware | -1.2% | $74B |
| 2 | Wisconsin | +0.2% | $337B |
| 3 | New York | +0.7% | $1.8T |
| 4 | Missississippi | +0.7% | $115B |
| 5 | Georgia | +0.8% | $661B |
| 6 | Minnesota | +1.2% | $384B |
| 7 | New Hampshire | +1.2% | $91B |
| 8 | Ohio | +1.2% | $698B |
| 9 | Iowa | +1.3% | $200B |
| 10 | Illinois | +1.3% | $876B |
| U.S. | +2.5% | $22.4T |
Delaware witnessed the slowest growth in the country, with real GDP growth of -1.2% over the year as a sluggish finance and insurance sector dampened the state’s economy.
Like Delaware, the Midwestern state of Wisconsin also experienced declines across the finance and insurance sector, in addition to steep drops in the agriculture and manufacturing industries.
America’s third-biggest economy, New York, grew just 0.7% in 2023, falling far below the U.S. average. High interest rates took a toll on key sectors, with notable slowdowns in the construction and manufacturing sectors. In addition, falling home prices and a weaker job market contributed to slower economic growth.
Meanwhile, Georgia experienced the fifth-lowest real GDP growth rate. In March 2024, Rivian paused plans to build a $5 billion EV factory in Georgia, which was set to be one of the biggest economic development initiatives in the state in history.
These delays are likely to exacerbate setbacks for the state, however, both Kia and Hyundai have made significant investments in the EV industry, which could help boost Georgia’s manufacturing sector looking ahead.
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