海仕资本：全球领先300家私募股权基金榜单正式发布
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
States2The Carlyle GroupWashington DC, United
States3KKRNew York, United
States4TPGFort Worth, United
States5Warburg PincusNew York, United
States6NB AlternativesNew York, United
States7CVC Capital PartnersLuxembourg,
Luxembourg8EQTStockholm, Sweden9Advent InternationalBoston, United States10Vista Equity PartnersAustin, United States11Leonard Green &
PartnersLos Angeles, United
States12CinvenLondon, United
Kingdom13Bain CapitalBoston, United States14Apollo Global
ManagementNew York, United
States15Thoma BravoChicago, United
States16Insight PartnersNew York, United
States17BlackRockNew York, United
States18General AtlanticNew York, United
States19Permira AdvisersLondon, United
Kingdom20Brookfield Asset
ManagementToronto, Canada21EnCap InvestmentsHouston, United
States22Francisco PartnersSan Francisco, United
States23Platinum EquityBeverly Hills, United
States24Hillhouse Capital
GroupHong Kong, Hong Kong25Partners GroupBaar-Zug, Switzerland26ArdianParis, France27PAI PartnersParis, France28Hellman &
FriedmanSan Francisco, United
States29Ares ManagementLos Angeles, United
States30Clearlake Capital
GroupSanta Monica, United
States31Stone Point CapitalGreenwich, United
States32BridgepointLondon, United
Kingdom33Silver LakeMenlo Park, United
States34TA AssociatesBoston, United States35BC PartnersLondon, United
Kingdom36MBK PartnersSeoul, South Korea37Baring Private Equity
AsiaHong Kong, Hong Kong38Genstar CapitalSan Francisco, United
States39BDT Capital PartnersChicago, United
States40American SecuritiesNew York, United
States41L CattertonGreenwich, United
States42Apax PartnersLondon, United
Kingdom43NGP Energy Capital
ManagementIrving, United States44EurazeoParis, France45Quantum Energy
PartnersHouston, United
States46Clayton, Dubilier
& RiceNew York, United
States47Goldman Sachs
Merchant Banking DivisionNew York, United
States48H.I.G. CapitalMiami, United States49Riverstone HoldingsNew York, United
States50PAGHong Kong, Hong Kong51Veritas CapitalNew York, United
States52Tiger Global
ManagementNew York, United
States53Summit PartnersBoston, United States54Madison Dearborn
PartnersChicago, United
States55Adams Street PartnersChicago, United
States56AEA InvestorsNew York, United
States57OnexToronto, Canada58Sequoia CapitalMenlo Park, United
States59Oaktree Capital
ManagementLos Angeles, United
States60HarbourVest PartnersBoston, United States61Roark Capital GroupAtlanta, United
States62InvestindustrialLondon, United
Kingdom63Providence Equity
PartnersProvidence, United
States64Astorg PartnersParis, France65Welsh, Carson,
Anderson & StoweNew York, United
States66CPEBeijing, China67New Enterprise
AssociatesChevy Chase, United
States68Audax GroupBoston, United States69KPS Capital PartnersNew York, United
States70Energy Capital
PartnersSummit, United States71Triton PartnersLondon, United
Kingdom72Morgan Stanley
Investment ManagementNew York, United
States73Lindsay GoldbergNew York, United
States74New Mountain CapitalNew York, United
States75IK Investment
PartnersLondon, United
Kingdom76TSG Consumer PartnersSan Francisco, United
States77Oak Hill Capital
PartnersNew York, United
States78Andreessen HorowitzMenlo Park, United
States79Affinity Equity
PartnersHong Kong, Hong Kong80Kelso & CompanyNew York, United
States81Harvest PartnersNew York, United
States82CDH InvestmentsHong Kong, Hong Kong83CastlelakeMinneapolis, United
States84China Everbright
LimitedHong Kong, Hong Kong85Berkshire PartnersBoston, United States86Thomas H. Lee
PartnersBoston, United States87TDR CapitalLondon, United
Kingdom88HgLondon, United
Kingdom89Cerberus Capital
ManagementNew York, United
States90Sycamore PartnersNew York, United
States91GCM GrosvenorChicago, United
States92AccelPalo Alto, United
States93Montagu Private
EquityLondon, United
Kingdom94GTCRChicago, United
States95CITIC CapitalHong Kong, Hong Kong96Great Hill PartnersBoston, United States97Equistone Partners
EuropeLondon, United
Kingdom98Hamilton LaneBala Cynwyd, United
States99TCVPalo Alto, United
States100KSL Capital PartnersDenver, United States101Primavera Capital
GroupBeijing, China102Nordic CapitalStockholm, Sweden103Inflexion Private
EquityLondon, United
Kingdom104Crestview PartnersNew York, United
States105Searchlight Capital
PartnersNew York, United
States106Siris Capital GroupNew York, United
States107American Industrial
PartnersNew York, United
States108Lightspeed Venture
PartnersMenlo Park, United
States109RRJ CapitalHong Kong, Hong Kong110Kohlberg &
CompanyMount Kisco, United
States111Norwest Venture
PartnersPalo Alto, United
States112China Renaissance
GroupBeijing, China113Hahn & Co.Seoul, South Korea114Arsenal Capital
PartnersNew York, United
States115SSG Capital
ManagementHong Kong, Hong Kong116TowerBrook Capital
PartnersNew York, United
States117Battery VenturesBoston, United States118Pamplona Capital
ManagementLondon, United
Kingdom119Waterland Private
Equity InvestmentsBussum, Netherlands120Pacific Equity
PartnersSydney, Australia121Kayne Anderson
Capital AdvisorsLos Angeles, United
States122Altas PartnersToronto, Canada123Littlejohn & CoGreenwich, United
States124Trilantic Capital
Partners North AmericaNew York, United
States125The Energy &
Minerals GroupHouston, United
States126IDG CapitalBeijing, China127GGV CapitalMenlo Park, United
States128Hermes GPELondon, United
Kingdom129Marlin Equity
PartnersHermosa Beach, United
States130The Jordan CompanyNew York, United
States131Boyu CapitalHong Kong, Hong Kong132Bessemer Venture
PartnersRedwood City, United
States133Lime Rock PartnersWestport, United
States134IMM Private EquitySeoul, South Korea135Valor Equity PartnersChicago, United
States136One Equity PartnersNew York, United
States137The Riverside CompanyNew York, United
States138Charterhouse Capital
PartnersLondon, United
Kingdom139Odyssey Investment
PartnersNew York, United
States140Ridgemont Equity
PartnersCharlotte, United
States141Gryphon InvestorsSan Francisco, United
States142Cortec GroupNew York, United
States143HGGCPalo Alto, United
States144Accel-KKRMenlo Park, United
States145Lenovo GroupHong Kong, Hong Kong146Rothschild Merchant
BankingParis, France147Hony CapitalBeijing, China148SK Capital PartnersNew York, United
States149Olympus PartnersStamford, United
States150Parthenon Capital
PartnersBoston, United States151Vivo CapitalPalo Alto, United
States152Aquiline Capital
PartnersNew York, United
States153Flexpoint FordChicago, United
States154Rhône GroupNew York, United
States155Founders FundSan Francisco, United
States156Tailwind Capital
PartnersNew York, United
States157IVPMenlo Park, United
States158Index VenturesGeneva, Switzerland159ACON InvestmentsWashington, D.C.,
United States160Altor Equity PartnersStockholm, Sweden161FountainVest PartnersHong Kong, Hong Kong162Apax Partners SASParis, France163Vitruvian PartnersLondon, United
Kingdom164Sapphire VenturesPalo Alto, United
States165Cornell CapitalNew York, United
States166ICONIQ CapitalSan Francisco, United
States167GI PartnersSan Francisco, United
States168Charlesbank Capital
PartnersBoston, United States169Patria InvestmentsSao Paulo, Brazil170Court SquareNew York, United
States171Aurora Capital
PartnersLos Angeles, United
States172Deutsche Beteiligungs
AGFrankfurt, Germany173Ridgewood EnergyMontvale, United
States174ABRY PartnersBoston, United States175Sentinel Capital
PartnersNew York, United
States176Oakley Capital
Private EquityLondon, United
Kingdom177Frazier Healthcare
PartnersSeattle, United
States178PantheonLondon, United
Kingdom179Lovell Minnick
PartnersRadnor, United States180Vertex HoldingsSingapore, Singapore181DCP CapitalBeijing, China182YunFeng CapitalShanghai, China183Five Point EnergyHouston, United
States184Trustbridge PartnersShanghai, China185Alvarez & Marsal
Capital PartnersGreenwich, United
States186Thrivent FinancialMinneapolis, United
States187Arlington Capital
PartnersChevy Chase, United
States188Nautic PartnersProvidence, United
States189IFC Asset Management
CompanyWashington, DC,
United States190Sun Capital PartnersBoca Raton, United
States191Vistria GroupChicago, United
States192AE Industrial
PartnersBoca Raton, United
States193Spark CapitalBoston, United States194EMR CapitalHong Kong, Hong Kong195Pamlico CapitalCharlotte, United
States196Birch Hill Equity
PartnersToronto, Canada197Tailwater CapitalDallas, United States198Flagship PioneeringCambridge, United
States199Wynnchurch CapitalRosemont, United
States200Qiming Venture
PartnersShanghai, China201NovaQuest Capital
ManagementRaleigh, United
States202General Catalyst
PartnersCambridge, United
States203Denham Capital
ManagementBoston, United States204CMC Capital PartnersBeijing, China205JP Morgan Asset
ManagementNew York, United
States206GHO Capital PartnersLondon, United
Kingdom207Linden Capital
PartnersChicago, United
States208Eagletree CapitalNew York, United
States209Gaorong CapitalBeijing, China210The Abraaj GroupDubai, United Arab
Emirates211LLR PartnersPhiladelphia, United
States212Coatue ManagementNew York, United
States213Shunwei Capital
PartnersBeijing, China214Matrix PartnersSan Francisco, United
States215BGH CapitalMelbourne, Australia216Incline Equity
PartnersPittsburgh, United
States217RoundShield PartnersLondon, United
Kingdom218FFL PartnersSan Francisco, United
States219KimmeridgeNew York, United
States220Centurium CapitalBeijing, China221Hopu Investment
ManagementBeijing, China222Russian Direct
Investment FundMoscow, Russia223Andera PartnersParis, France224CBC GroupSingapore, Singapore225Georgian PartnersToronto, Canada226Bernhard Capital
PartnersBaton Rouge, United
States227FTV CapitalSan Francisco, United
States228NovacapLongueuil, Canada229Yorktown PartnersNew York, United
States230Quadrant Private
EquitySydney, Australia231Cathay Capital
Private EquityParis, France232Kinderhook IndustriesNew York, United
States233Freeman Spogli &
CoLos Angeles, United
States234OrbiMed AdvisorsNew York, United
States235Old Ironsides EnergyBoston, United States236BV Investment
PartnersBoston, United States237Vestar Capital
PartnersNew York, United
States238The Edgewater FundsChicago, United
States239The Raine GroupNew York, United
States240China Life Investment
Holding CompanyBeijing, China241Menlo VenturesMenlo Park, United
States242BlackFin Capital
PartnersParis, France243Gridiron CapitalNew Canaan, United
States244Thompson Street
Capital PartnersSt. Louis, United
States245Exponent Private
EquityLondon, United
Kingdom246Redpoint China
VenturesMenlo Park, United
States247Marunouchi CapitalTokyo, Japan248Carnelian Energy
CapitalHouston, United
States249GSR VenturesBeijing, China250JAFCOTokyo, Japan251LivingbridgeLondon, United
Kingdom252Torquest PartnersToronto, Canada253ARC Financial Corp.Calgary, Canada254Värde PartnersMinneapolis, United
States255J.F. Lehman &
CompanyNew York, United
States256Advantage PartnersTokyo, Japan257Stirling Square
Capital PartnersLondon, United
Kingdom258Digital Sky
Technologies (DST)Moscow, Russia259Reverence Capital
PartnersNew York, United
States260Thrive CapitalNew York, United
States261Peppertree Capital
ManagementChagrin Falls, United
States262Fondo FSIMilan, Italy263JLL PartnersNew York, United
States264STIC InvestmentsSeoul, South Korea265Revelstoke Capital
PartnersDenver, United States266Rocket InternetBerlin, Germany267Atlas HoldingsGreenwich, United
States268HTC Corp.Taipei, Taiwan269Main Post PartnersSan Francisco, United
States270Morningside Venture
CapitalShanghai, China271VMG PartnersSan Francisco, United
States272Norwest Equity
PartnersMinneapolis, United
States273Ping An CapitalShanghai, China274Palladium Equity
PartnersNew York, United
States275Paine Schwartz
PartnersSan Mateo, United
States276DCM VenturesMenlo Park, United
States277Alpine InvestorsSan Francisco, United
States278Trive CapitalDallas, United States279GoldPoint PartnersNew York, United
States280MSouth Equity
PartnersAtlanta, United
States281Foresite Capital
ManagementSan Francisco, United
States282AnaCap Financial
PartnersLondon, United
Kingdom283Foundry GroupBoulder, United
States284Bregal InvestmentsNew York, United
States285Arcline Investment
ManagementSan Francisco, United
States286Altaris Capital
PartnersNew York, United
States287ChrysCapitalMumbai, India288MidOcean PartnersNew York, United
States289Multiples Alternate
Asset ManagementMumbai, India290Data CollectiveSan Francisco, United
States291Capvis Equity
PartnersBaar, Switzerland292Trident CapitalSan Mateo, United
States293Portobello CapitalMadrid, Spain294Mayfair Equity
PartnersLondon, United
Kingdom295VIG PartnersSeoul, South Korea296Wellspring Capital
ManagementNew York, United
States297Atlas Merchant
CapitalNew York, United
States298Wind Point PartnersChicago, United
States299Vector CapitalSan Francisco, United
States300Summa EquityStockholm, Sweden