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Private Equity

Strategies, focus areas, funds and trends across our private equity coverage.

30

Firms

$1.46T

Allocated AUM

19

Funds

21

Strategies

Peak fundraising year

2023 — 6 funds closed

Most concentrated region

Europe — 87% of firms

Top sector

Healthcare Services — 8 of 30 firms

Strategy mix

Strategies & sub-strategies

Growth Equity73% of firms22 Buyout73% of firms22 Co-investment43% of firms13 Mid-Market Buyout27% of firms8 Large-Cap Buyout27% of firms8 Venture Growth17% of firms5

Insight

Growth Equity leads — 73% of firms run it — nearly 22× Continuation Vehicles, the smallest strategy.

Fund vintage trend

New funds launched per vintage year, based on tracked closings

Industry focus

Bubble size = number of firms active in sector

By region

Firm count by geography

Verticals

Enterprise Software 10 Fintech / Payments 8 Healthtech 8 Cleantech / Energy Transition 6 Vertical SaaS 4 Logistics & Supply Chain 4 Data & Analytics 3 Consumer Apps 2 Gaming 2 Cybersecurity 1

Funds

NEWASPEN LuxEvergreen Private Equity · investing →ASPEN (Adams Street Private Equity Navigator Fund)Evergreen Secondaries, Co-investments & Primary Funds · investing →Co-Investment Fund VICo-Investments · closed2026 · $2.5B →Adams Street Leaders Fund IIIPrimary Fund Investments · fundraising2026 →BlackRock Long Term Private Capital FundLong-term Private Capital · fundraising2025 →Growth Equity Fund VIIIGrowth Equity · closed2025 →ASP 2025 US FundPrimary Fund Investments · closed2025 →BlackRock Co Investment Partners IVCo-investments · fundraising2025 →BlackRock Private Equity Partners VIIIGlobal Buyout Fund of Funds · fundraising2024 →BlackRock Secondary Opportunities Fund IIISecondaries · fundraising2024 →Adams Street Leaders Fund IIPrimary Fund Investments · closed2024 →TSG Consumer Partners IX, L.P.Buyout · fundraising2023 · $6B →BlackRock Impact Opportunities Fund IIImpact Investing · closed2023 →Blackstone Capital Partners IX (BCP IX)Global Buyout · fundraising2023 · $30.4B →Carlyle Partners VIIIU.S. Buyout · closed2023 · $14.8B →BlackRock Co Investment Partners IIICo-investments · closed2023 →Silver Lake Partners VII (SLP VII)Buyout · closed2023 · $20.5B →BlackRock Secondary Opportunities Fund IISecondaries · closed2021 →BlackRock Private Equity Partners VIIGlobal Buyout Fund of Funds · closed2020 →