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Diagram of the structure of a generic private equity firm. A private equity firm or private equity company (often described as a financial sponsor) is an investment management company that provides financial backing and makes investments in the private equity of a startup or of an existing operating company with the end goal to make a profit on its investments.
Each year Private Equity International publishes the PEI 300, a ranking of the largest private-equity firms by how much capital they have raised for private-equity investment in the last five years. [1] In the 2024 ranking, Blackstone Inc. retained the top spot from KKR. [2]
In casual usage, "private equity" can refer to these investment firms, rather than the companies in which they invest. [1] Private-equity capital is invested into a target company either by an investment management company (private equity firm), a venture capital fund, or an angel investor; each category of investor has specific financial goals ...
This is a list of the world's largest non-governmental privately held companies by revenue. This list does not include state-owned enterprises like Sinopec, State Grid, China National Petroleum, Kuwait Petroleum Corporation, Pemex, Petrobras, PDVSA and others. These corporations have revenues of at least US$10 billion.
In April 2004, Apollo raised $930 million for a listed business development company, Apollo Investment Corporation Nasdaq: AINV, to invest primarily in middle-market companies in the form of mezzanine debt and senior secured loans, as well as by making direct equity investments in companies. The company also invests in the securities of public ...
A sale of the portfolio company to another private-equity firm, also known as a secondary, has become a common feature of developed private equity markets. [ 14 ] In prior years, another exit strategy has been a preferred dividend by the portfolio company to the private-equity fund to repay the capital investment, sometimes financed with ...
In countries with public trading markets, a privately held business is generally taken to mean one whose ownership shares or interests are not publicly traded. Often, privately held companies are owned by the company founders or their families and heirs or by a small group of investors. Sometimes, employees also hold shares in private companies.
In 1974, Thomas H. Lee founded a new investment firm to focus on acquiring companies through leveraged buyout transactions, one of the earliest independent private equity firms to focus on leveraged buyouts of more mature companies rather than venture capital investments in growth companies.