The Top Private Equity Firms of 2024
08.20.24
Awards

GrowthCap is pleased to announce The Top Private Equity Firms of 2024. Since 2013, we have been gathering information on growth investment firms focused on private companies. To date, we have compiled data which enables us to create a mosaic on each of the leading firms and select the ones who we consider to be the best capital partners for CEOs and management teams. And as logic follows, the best partners to companies tend to also be the best partners to LPs and to those investors aspiring to work for elite firms.

Our focus is not on financial returns as we view returns as a lagging indicator. Instead, we look to the qualities that enable a firm to consistently and repeatedly create value for the portfolio companies they invest in. We evaluate firm leadership, the composition of the overall organization, functional capabilities, unique competitive advantages, and investment judgement, among other factors. We also pay close attention to the culture and ethos of the firm and evidence of a strong sense for social and environmental responsibility. Notably, insights received directly from CEOs, LPs and investors in the industry play heavily into our evaluations.

With the complexities inherent in private equity investing, no firm is perfect. That said, we feel that these firms can be considered the best capital partners for companies seeking to grow and scale over the long run.

Please join us in recognizing the accomplishments of the Top Private Equity Firms of 2024.

 

Bain Capital

 

Bain Capital is one of the world’s leading private investment firms with approximately $185 billion in assets under management. The firm pioneered the value-added approach to investing and has been at the forefront of growth investing since its founding in 1984. Bain Capital has a proven, collaborative strategy to support innovative businesses, accelerate growth and achieve scale. The team has decades of experience investing in and building category-leading businesses globally. Bain Capital’s reach across industries and geographies creates unique advantages for management teams as they enter new end markets and expand internationally.

“Over our 40-year history, we have had the privilege of building partnerships with a broad range of innovative founders, entrepreneurs, and management teams from around the world. We have focused on building deep expertise across key industry verticals and value creation capabilities that enable us to roll up our sleeves and work alongside our companies to unlock growth opportunities. We look forward to continuing our mission to help our partners realize their potential.” – The Partners of Bain Capital

 

Hg

 

Hg is a leading investor in European and transatlantic software and services businesses. The firm supports the building of sector-leading enterprises that supply businesses with critical software applications or workflow services, delivering a more automated workplace for their customers. Hg’s support combines deep end-market knowledge with world class operational resources, together providing compelling support to entrepreneurial leaders looking to scale their business—businesses that are well invested, enduring, and serve their customers well.

Hg has led over 200 investments in the software and services sector and is currently invested in over 50 businesses, with its large-cap strategy, Saturn, now invested in the top three biggest software buyouts in Europe. With over $20 billion additional capital for new investments raised across its most recent Fund vintage, Hg has a current FUM of over $70 billion. Today Hg supports a portfolio worth over $150 billion in aggregate enterprise value, with over 110,000 employees, consistently growing revenues at more than 20% annually.

“Hg has become a truly transatlantic agent of business growth over the past ten years. Emblematic of this was our May 2024 investment in AuditBoard for $3 billion, a huge success for our San Francisco team less than two years after we opened our West Coast office. We’re also looking forward to welcoming a new New York partner in Laura Grattan who joins us from Crosspoint. Meanwhile, we’ve been monitoring the rise of AI technology for a few years now and have a strong internal team ensuring our family of companies benefit sustainably from this new wave while keeping the hype in perspective. To keep these AI discussions in focus, our 2024 Software Leadership Gathering saw 120 specially selected transatlantic leaders come together to discuss how we innovate to meet the changes impacting our industry. We hope to make this an annual event alongside planned trips to Silicon Valley in 2025.” – Alan Cline, Head of North America

 

American Securities

 

American Securities is a leading U.S. private equity firm that invests in market-leading North American companies with annual revenues generally ranging from $200 million to $2 billion. From its origins as a family office in 1947 to its founding as a private equity firm in 1994 to its position today with $29 billion in assets under management, American Securities has been at the forefront of values-based investing for decades. With an investment philosophy rooted in partnership, the firm works with existing management teams to help portfolio companies achieve their full potential.

“American Securities is proud to be recognized by GrowthCap as a Top Private Equity Firm for the second consecutive year. Forming collaborative partnerships with existing management teams has been core to our 30-year track record of helping companies achieve their full potential, with a particular focus on the industrials and services sectors. We remain committed to this philosophy and are energized by the opportunities ahead.” – Michael Fisch, Founder and CEO

 

TA Associates

 

TA is a leading global private equity firm focused on investing in growing companies with high-quality business models across its five target industries: technology, healthcare, financial services, consumer and business services. Since its founding in 1968, the firm has raised $65 billion in capital and invested in more than 560 companies worldwide. As an active investor, TA is committed to building long-term partnerships with founders, entrepreneurs and management teams to help scale portfolio company growth and deliver lasting value. TA has over 150 investment professionals across its global offices in Boston, Menlo Park, Austin, London, Mumbai and Hong Kong. The firm’s dedicated Strategic Resource Group and Capital Markets Group provide further growth-orientated resources and support, including strategic counsel, operational guidance and assistance structuring and financing transactions. 

“For more than 50 years, TA has proudly partnered with founders, leaders, and management teams of our portfolio companies to provide strategic guidance, industry insights and resources key to long-term growth and success. It is an honor to be recognized by GrowthCap for our dedication to helping companies achieve their full potential.” – Ajit Nedungadi, CEO

 

Thoma Bravo

 

Thoma Bravo is a leading software investor with more than $160 billion in assets under management as of June 30, 2024. The firm is committed to investing in and forming meaningful partnerships with software and technology companies to drive operating results and accelerate growth and innovation. Thoma Bravo has acquired or invested in more than 490 software and technology companies representing over $265 billion of value (including control and non-control investments). The firm’s track record of delivering superior value is a testament to its deep sector knowledge and its strategic and operational capabilities.

“At Thoma Bravo, we pride ourselves on our close collaboration with portfolio companies and their management teams, building longstanding, strategic relationships that lead to innovation and growth. This unique approach, coupled with our deep sector knowledge and operational expertise, helps our companies to deliver best-in-class products and ultimately long-term value to customers. We’re proud to be recognized by GrowthCap and look forward to continuing to strategically support our portfolio companies as they innovate, evolve and scale.” – Seth Boro, Managing Partner

 

TPG Growth

 

Launched in 2007 as one of the first dedicated growth equity funds at a large cap private equity firm, TPG has a track record of success in meeting the unique needs of growth-stage companies, specifically growth buyouts and growth equity. Throughout their history, TPG has partnered with some of the most innovative entrepreneurs, founders, and management teams to help grow and scale their businesses. Their team brings an established perspective and a differentiated blend of conviction, flexibility, and partnership to growth equity that allows us to invest behind unique opportunities early, particularly in markets that are at points of inflection, disruption, or significant change. They take meaningful ownership stakes in a relatively smaller number of companies in their core sectors (business services, internet, digital media & communications, healthcare, and software & enterprise technology), positioning their team to actively manage and add value through best-in-class business building capabilities and operational expertise.

Today, TPG Growth manages $24 billion in assets. Select investments include Airbnb, Anovo, C3, Campus Active Wear, Crunch Fitness, CTSI, Denodo, Evolent Health, e.l.f. Cosmetics, Global Music Rights, GoHealth Urgent Care, Greenhouse Software, Kaseya, Keter Environmental Services, Kodiak Solutions, Lenskart, Medical Solutions, Morrow Sodali, Musixmatch, Nykaa, Uber, Untitled Entertainment, and Zscaler.

“In an increasingly competitive market for growth equity products, TPG Growth separates itself through its unmatched breadth and depth of experience. Founders and our portfolio companies benefit from TPG Growth’s intellectual capital, global network, business building capabilities, and the resources and expertise of the broader TPG platform. Beyond capital, we aspire to work with entrepreneurs and management teams to transform companies for the better, driving value in an innovative, strategic, and integrated way.” – Matt Hobart and David Trujillo, Co-Managing Partners

 

Clayton, Dubilier & Rice (CD&R)

 

Founded in 1978, Clayton, Dubilier & Rice (“CD&R”) is a leading private investment firm with a strategy of generating strong investment returns by building more robust and sustainable businesses through the combination of skilled investment experience and deep operating capabilities. In partnership with the management teams of its portfolio companies, CD&R takes a long-term view of value creation and emphasizes positive stewardship and impact. The firm invests in businesses that span a broad range of industries, including industrial, healthcare, consumer, technology and financial services end markets.

“While CD&R has grown significantly over the last 46 years, our unwavering commitment to our values continues to underpin everything we do. We serve as trusted advisors to portfolio company management teams, founders and families as we work together to build valuable businesses by driving operational improvement. It is an honor to be recognized for our partnership investing approach and ability to manage complexity and seize opportunities throughout all market conditions. Importantly, none of this success would have been possible without our team’s hard work, collaborative spirit and constant focus on always being great partners to each other and our companies.” – Nate Sleeper, CEO

 

Trilantic North America

 

Trilantic North America is a growth-focused middle market private equity firm specializing in control and significant minority investments in North American consumer and business services companies. Trilantic North America has invested in founder-, family-, and entrepreneur-led companies since 2004. 

Since 2004, the firm has committed $7.9 billion in capital to these types of businesses in the middle and upper-middle markets. The firm has raised $11 billion across seven private equity fund families and completed more than 80 investments over the past 20 years, including 59 investments in North American founder and family owned/operated businesses. During Trilantic North America’s ownership periods, the firm’s portfolio companies have added more than 46,000 jobs in aggregate.

Alongside its investments, Trilantic North America is deeply committed to providing strategic guidance to the management teams with which it partners through the expertise of its investment team and Founders Council. Investment team members have deep experience in their sectors and provide strategic guidance to management teams, rooted in a partnership-oriented and value-add approach.

“Trilantic North America is honored to be selected as one of GrowthCap’s Top Private Equity Firms of 2024. This award distinguishes our firm’s longstanding success in partnering with and driving meaningful growth for dynamic founder-, family- and entrepreneur-led businesses across the consumer and business services sectors.” – Charles Ayres, Chairman of Trilantic North America

 

Summit Partners

 

Summit Partners is a leading growth-focused alternative investment firm. For over 40 years, Summit has partnered with profitable, category-leading companies and their leadership teams to build best-in-class businesses by leveraging our deep industry expertise and our Peak Performance Group value enhancement platform. With over 80 investment professionals in our offices in North America and Europe, Summit has invested in more than 550 companies in the technology, healthcare, financial services, business services and consumer sectors. 

“We are honored to be listed again on GrowthCap’s list of Top Private Equity Firms. Over the course of four decades, it has been our privilege to serve as the partner of choice for many of the best profitable growth companies. Our global team remains committed to the disciplined execution of our investment strategy which we believe is timeless and time-tested.” – Peter Chung, CEO and Managing Director

 

Oak Hill Capital

 

Oak Hill Capital is a longstanding private equity firm that has been investing in the North America middle-market for 37 years. Oak Hill began its investment activities in 1986 as the family office of Robert M. Bass. This unique heritage is ingrained in the firm’s culture and is demonstrated by Oak Hill’s extensive history of partnering with world-class entrepreneurs and founder-owned businesses by supporting companies through their next phase of growth.

Oak Hill’s experienced team applies a highly systematic, specialized, theme-based approach to investing. Oak Hill works actively in partnership with management to implement strategic and operational initiatives to create franchise value. Oak Hill’s well-established ESG program and initiatives also play a major role both in the firm’s investment decisions, as well as in the growth strategy of its portfolio companies.

Since its founding, Oak Hill and its predecessors have raised over $23 billion of initial capital commitments and co-investments, and have invested in over 110 companies.

“Since Oak Hill’s founding 37 years ago, the firm’s core values and dedication to being principal-minded investors, in which we emphasize economic alignment, capital preservation, risk management, and corporate citizenship, remain unchanged. Our differentiated theme-based approach to investing and creating value is designed to achieve institutionalized success, which we believe is characterized by consistent, repeatable processes that are scalable and lead to compelling investments in any market environment. We promote a collaborative “One Firm-One Mission” culture, which is exemplified by our extensive history of partnering with portfolio companies and their management teams to build sustainable franchises. It is a privilege to be a part of such a long-standing and impactful firm and to work alongside such a talented team at Oak Hill.” – Scott Baker, Brian Cherry, Steve Puccinelli, and Tyler Wolfram, Managing Partners

 

Patient Square Capital

 

Patient Square Capital is a dedicated healthcare investment firm with approximately $8 billion in assets under management as of March 31, 2024. The firm aims to achieve strong investment returns by collaborating with high-quality, growth-oriented companies and top-tier management teams whose products, services, and technologies improve health. Patient Square utilizes deep industry expertise, a broad network of relationships, and a partnership approach to make investments in companies grow and thrive. Patient Square invests in businesses that strive to improve patient lives, strengthen communities, and create a healthier world.

“The founding vision of Patient Square is that a market as large, complex, and impactful as healthcare requires scale and specialization. Our name is derived both from our patient approach to investing signifying the years of hard work that lead to successful investments and the centricity of patients to everything we do. Patient Square Capital’s deep industry expertise, proprietary in-house resources, and differentiated network of relationships enable us to partner with companies that are expected to drive greater innovation and efficiency in healthcare.” – Jim Momtazee, Managing Partner

 

Francisco Partners

 

Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch 25 years ago, Francisco Partners has invested in more than 450 technology companies, making it one of the most active and longstanding investors in the technology industry. With approximately $45 billion in capital raised, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential.

FP is an expert in divisional carve-outs and has established itself as a partner and buyer of choice for corporates as they evaluate divestitures and partnerships. The firm’s proven reputation for delivering exceptional returns through a distinctly flexible approach, deep domain knowledge and strong operational expertise has allowed FP to help its portfolio companies tactically navigate challenging ecosystems and inflection points. Many of FP’s portfolio companies rank as best places to work in their local communities and demonstrate a commitment to diversity, equity, and inclusion as a product of FP’s prioritization of transparency, collaboration, and an orientation to action.

“Francisco Partners is a leader in our industry because of our commitment to continually improving how we provide portfolio companies with operational and financial growth. Our devoted team of experienced investment professionals, executives and functional experts empowers companies to realize their full potential and deliver enhanced value to their customers, partners, and end users. We strive to evolve technology companies across both the “vision” and “execution” parts of their journey, and are thankful for our key stakeholders, investors, portfolio companies, and employees for continuing to engage with us as we refine and innovate our approach to sustainable investing.” – Dipanjan “DJ” Deb, Co-Founder and CEO

 

Vista Equity Partners

 

Vista is a leading global investment firm with more than $100 billion in assets under management that invests exclusively in enterprise software, data and technology-enabled organizations. Vista’s platform offers a full spectrum of capital solutions tailored to meet the specific growth needs of enterprise software companies ranging from strategic growth investments, traditional buyouts and permanent capital to direct lending and structured financing provided through its credit investing arm, Vista Credit Partners. 

Vista’s private equity platform consists of three distinct and mutually reinforcing strategies that partner with enterprise software companies at various life stages, ranging from emerging category leaders with at least $10 million in annual recurring revenue to dynamic multinational businesses with billions in annual revenues. Vista’s Flagship strategy makes large cap investments, its Foundation strategy partners with middle-market businesses and its Endeavor strategy focuses on growing and scaling lower middle-market enterprise software companies. 

Vista is synonymous with its best practices and approach to value creation and working closely with founders and executive teams to prioritize operational excellence to build enduring market value. Vista’s ecosystem consists of 85+ portfolio companies reaching millions of customers across diverse end-markets around the world. 

“At Vista, we’ve witnessed first-hand how visionary leadership can transform the way the world does business by bringing innovative software solutions to market capable of unlocking unprecedented productivity and customer value. Now, more than ever, founders are looking for investors who can provide more than just capital – they want true partners who are equally and just as relentlessly focused on helping them build great products and great businesses. We are honored to have worked with many of these founders and businesses over the last two decades, and we are grateful to be acknowledged once again as one of GrowthCap’s Top Private Equity Firms.” – Robert F. Smith, Founder, Chairman, and CEO

 

Ampersand Capital Partners

 

Founded in 1988, Ampersand Capital Partners is a middle-market private equity firm dedicated to growth-oriented investments in the healthcare sector with $3 billion of assets under management. Ampersand invests in companies that support the life sciences ecosystem, including laboratory products and services, contract manufacturing, pharma services and specialty pharma. With offices in Boston, MA, and Amsterdam, Netherlands, Ampersand leverages a unique blend of private equity and operating experience to build value and drive long-term performance alongside its portfolio company management teams. The firm specializes in the “picks and shovels” of healthcare, partnering with companies that provide mission-critical tools and services to life sciences innovators developing breakthrough medicines and medical devices.

Ampersand’s core investment sectors are interrelated, and portfolio companies in one sector often interact with participants in adjacent sectors, providing differentiated insights and value-creation opportunities. Ampersand transcends a traditional investment role, leveraging its unique industry expertise to closely collaborate with portfolio company founders and leadership teams on both a scientific and growth strategy level. This fully integrated approach has been the foundation of many success stories, forging both founders and companies into industry leaders.

“While capital has become a commodity, deep industry expertise and strategic insight can make the difference between modest and exceptional outcomes. Ampersand is singularly focused on elevating the outcomes of our management teams and Limited Partners, and we are happy to be judged by our track record in this regard.” – Herb Hooper, Managing Partner

 

Insight Partners

 

Insight Partners is a global software investor partnering with high-growth technology, software, and internet startup and ScaleUp companies that are driving transformative change in their industries. Since its founding in 1995, Insight has invested in 800+ companies worldwide and supported 120+ strategic exits, including 55+ successful IPOs of Insight portfolio companies. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success.

What sets Insight apart from its peers is the firm’s ability to leverage data and pattern recognition, which enables Insight to provide strategic support and scale up companies at every stage of the growth cycle. Critical to this ability is Insight Onsite, the firm’s comprehensive growth engine with 140+ dedicated team members across multiple domains. The team provides deep operational expertise, access to expansive networks, and targeted solutions to help high-growth software ScaleUps scale faster and more effectively.

Insight also offers Insight IGNITE, the firm’s network of more than 2,000 senior tech executives across 850+ global enterprises who leverage the firm’s deep industry expertise and investment knowledge to inform their technology strategies. The IGNITE network’s value is derived from its position at the center of the software ecosystem, bringing together innovative founders from Insight’s portfolio of software startup and ScaleUp companies with corporate executives setting technology strategies within Global 2000 companies. This collaboration fosters a mutually beneficial environment to connect, share insights, and forge strategic partnerships.

“As Insight Partners approaches its 30th year, we cannot help but reflect on how technology has evolved since the firm was founded in 1995. Throughout this evolution, Insight’s support of our founders, trusted partners, and colleagues has been core to our commitment to the software sector. Through multiple economic cycles, a global pandemic, and technology that continually innovates to meet the world’s needs, Insight’s teams have shown up boldly for each other and those in the tech ecosystem. I am immensely proud of this firm and look forward to what the next 30 years will bring.” – Ryan Hinkle, Managing Director

 

The Vistria Group

 

The Vistria Group is building a new kind of private investment firm that seeks to deliver both financial returns and societal impact. It invests in essential industries like healthcare, knowledge & learning solutions, financial services and housing that deliver value for investors as well as communities, employees, and consumers. With over $12.9 billion in AUM, The Vistria Group looks deeper by working as a true partner, drawing on its deep sector knowledge, operational expertise, unique network, diverse team, and impact orientation to achieve transformational growth.

“Our mission is to drive value that is meaningful to all of our stakeholders by delivering superior returns for investors, accelerated growth for the companies in which we invest, and creating lasting, positive societal impact. Being named as one of the Top Private Equity Firms is a true testament to our most valuable asset: our people. Our success is a direct result of the talented investors, subject matter experts, and experienced operators that make up our team.” – Kip Kirkpatrick and Martin Nesbitt, Co-Founders and Co-CEOs

 

General Atlantic

 

General Atlantic (“GA”) is a leading global investor in growth and innovation with more than four decades of experience providing capital and strategic support for over 520 companies throughout its history. Established in 1980, General Atlantic continues to be the dedicated partner to visionary founders and investors seeking to build dynamic businesses and create long-term value. Guided by the conviction that entrepreneurs can be incredible agents of transformational change, the firm combines a collaborative global approach, sector-specific expertise, a long-term investment horizon, and a deep understanding of growth drivers to partner with and scale innovative businesses around the world.

The firm leverages its patient capital, operational expertise, and global platform to support a diversified investment platform spanning Growth Equity, Credit, and Climate strategies. General Atlantic manages approximately $83 billion in assets under management, inclusive of all strategies, as of June 30, 2024, with more than 580 professionals, including over 300 investment professionals, in 17 global locations across five regions.

“We are proud to have partnered with and helped 500+ growth businesses since our founding in 1980. We believe the growth equity opportunity is stronger than ever driven by acceleration of innovation cycles, the globalization of entrepreneurship, and the rise of the digital economy.” – Martín Escobari, Co-President and Head of Global Growth Equity at General Atlantic

 

THL Partners

 

THL Partners is a premier private equity firm investing in middle-market growth companies exclusively within three sectors: healthcare, financial technology & services, and technology & business solutions. THL couples deep sector expertise through an Identified Sector Opportunity (“ISO”) process with dedicated internal operating resources from its Strategic Resource Group to transform and build great companies of lasting value in partnership with management. The firm’s domain expertise and resources help to build great companies with an aim to accelerate growth, improve operations and drive long-term sustainable value. Since 1974, THL has raised more than $35 billion of equity capital, invested in over 170 companies and completed more than 675 add-on acquisitions representing an aggregate enterprise value at acquisition of over $260 billion.

“We’re honored to be included in GrowthCap’s Top Private Equity Firms of 2024 list. As a pioneer in middle market investing, THL has always prided itself in working collaboratively with our management team partners to build companies of lasting value. This recognition validates our past success and speaks to the strength of our firm’s culture, which is rooted in a ‘smart, hungry, and humble’ approach to investing.” – Scott Sperling and Todd Abbrecht, Co-CEOs

 

Berkshire Partners

 

Berkshire Partners has a well-established history as a multi-sector specialist investor in private and public equity. The firm’s private equity team invests in leading companies across a range of business sectors including consumer, healthcare, services & industrials, technology & communications, and digital infrastructure. With more than 35 years of experience and over 150 private equity investments to date, Berkshire Partners collaborates with management teams to strengthen and enhance the companies in which it invests.

Berkshire Partners’ investment process is grounded in analytical rigor, truth-seeking, and open debate. The firm seeks to be a constructive partner for management teams and to provide the necessary guidance to help its portfolio companies grow into enduring market leaders.

Berkshire Partners is 100% employee-owned and works hard to reinforce its team-centered approach. Collaboration and deep alignment with stakeholders are principles that the firm believes have helped attract and retain experienced investment professionals. Team members possess deep sector knowledge and champion the firm’s values: Relationships Matter, The Power of Teams, and Winning the Right Way. It is these core values and the distinctive culture of Berkshire Partners that it believes have helped drive the firm’s success.

“At Berkshire Partners, we are dedicated to building enduring value by creating and fostering exceptional teams. With more than 35 years of experience, we believe our well-established reputation for integrity and accountability continues to be a cornerstone of our firm. By offering strategic counsel and emphasizing collaborative decision-making with the leaders of our portfolio companies, Berkshire serves as a true partner aiming to drive and capitalize on value creation and enhancement opportunities. We are honored to be recognized as one of GrowthCap’s Top Private Equity Firms again this year.” – Josh Lutzker, Managing Director

 

Lee Equity Partners

 

Lee Equity Partners, LLC is a middle-market private equity firm that partners with entrepreneurs, founders and management teams primarily in the financial and healthcare services sectors. Over nearly two decades the firm has utilized its thematic based investment strategy and deep sector expertise to identify and partner with talented management teams to accelerate growth and build market leading businesses.

The team’s combination of investing and strategic advisory expertise offers a differentiated approach to control investing in North American lower middle-market private equity: (i) growth investing heritage gained through decades of growth investing experience, (ii) deep sector expertise and operating experience and (iii) strategy consulting capability to support significant in-house strategic due diligence and post-closing value creation.

“Lee Equity Partners is honored to have been selected as one of GrowthCap’s Top Private Equity Firms of 2024. For nearly two decades, Lee Equity has collaborated alongside entrepreneurs, founders and management teams to help accelerate growth and create world class sustainable businesses. We invest in people, technology, infrastructure and prioritize organic growth initiatives at our portfolio companies. Our partnership with management teams helps to scale their businesses and grow into market leaders.” – Mark Gormley, Partner

 

Alpine Investors

 

Alpine Investors is a people-driven private equity firm committed to building enduring companies by working with, learning from, and developing exceptional people. Alpine specializes in investments in the software and services industries. Alpine’s PeopleFirst strategy includes a talent program that allows Alpine to bring leadership to situations where additional or new management is needed post-transaction. Alpine has over $17 billion in assets under management and has three offices in San Francisco, New York, and Salt Lake City. 

“When we set out to start Alpine Investors, our goal was to build it around people. Our investment strategy, our time, our energy, our money, and our resources all center around working with world-class talent. We have relentlessly focused on creating an environment where the best people want to come to work; where they can work with people they like, trust, and admire; and where they can find an environment and leaders that help them grow into the best versions of themselves. I’m honored Alpine has been recognized by GrowthCap on this year’s list alongside other top firms in the industry.” – Graham Weaver, Founder and CEO

 

Accel-KKR

 

Accel-KKR is a technology-focused investment firm with $19 billion in cumulative capital commitments. The firm focuses on software and tech-enabled businesses, well-positioned for top-line and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions, including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across various transaction types, including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR’s headquarters is in Menlo Park, with offices in Atlanta, Chicago, London, and Mexico City.

 

Silversmith Capital Partners

 

Silversmith Capital Partners is a Boston-based growth equity firm focused on partnering with, and supporting, the best entrepreneurs in growing technology and healthcare companies. Since its founding in 2015, the firm has raised four funds totaling $3.3 billion of capital under management. Silversmith typically invests between $20 million to $125 million in profitable, growing companies that have achieved scale in a capital efficient way and is flexible on deal structure.

Representative investments include ActiveCampaign, Appfire, Apryse, DistroKid, impact.com, Iodine Software, LifeStance Health, Onbe, and Webflow.

“Silversmith’s entire reason for being is to partner with exceptional founders and CEOs—and to support them in the hard work of growing their businesses. As a result, it is these entrepreneurs that we are fortunate to work alongside who deserve the credit for this recognition. We feel very grateful for the company we keep.” – Todd MacLean, Managing Partner

 

JMI Equity

 

JMI Equity is a growth equity firm focused on investing in leading software companies. For over three decades, JMI has partnered with exceptional founders, entrepreneurs, and management teams at high-growth software companies to provide flexible capital, industry expertise, and operational support to build businesses of enduring value. To date, JMI has invested in over 185 software businesses in North America and Europe and completed over 120 exits. Today, the firm’s portfolio of industry-leading cloud software companies represents $9 billion in combined revenue, $75 billion in aggregate enterprise value, and over 37,000 jobs.

“For over three decades JMI Equity has had the privilege of collaborating with world class software founders and entrepreneurs. We are committed to helping software companies build lasting value and generate long term sustainable growth. JMI is honored to be recognized by GrowthCap as a Top Private Equity Firm.” – Peter Arrowsmith, Managing General Partner

 

AE Industrial Partners

 

Founded in 1998, AE Industrial Partners (“AEI”) is a private investment firm with $6.2 billion of assets under management, focusing on highly specialized markets including national security, aerospace, and industrial services. The firm has completed more than 130 investments in market-leading companies, leveraging its deep industry knowledge, operating experience, and extensive network of relationships across the sectors in which it invests.

AEI is dedicated to accelerating the growth of middle-market companies, a philosophy that has driven the firm’s expansion into the space and defense sectors where it saw a significant need for institutional capital. Often serving as the first institutional investor for privately held businesses, AEI is a growth-oriented partner, working closely with strong management teams to create long-term value through a combination of organic and acquisition-based growth initiatives.

The firm has a proven track record of helping companies rapidly scale their operations and break into new markets. In addition to its private equity investments, AEI has a venture capital arm as well as an aerospace leasing platform.

“We are honored to be included on GrowthCap’s list of Top Private Equity Firms for 2024. It is a testament to the hard work of our team, whose dedication, insights and industry experience drive the success of our portfolio investments. We look forward to continuing to build successful middle-market companies harnessing next-generation technologies and addressing critical needs in our target markets.” – Michael Greene and David Rowe, Co-CEOs and Managing Partners

 

Charlesbank Capital Partners

 

Founded in 1998, Charlesbank Capital Partners is an established private investment firm with more than $18 billion of cumulative capital raised since inception. Based in Boston and New York, the team has a long history of working together, a deep specialization in the middle market and experience investing over multiple business cycles. Known for its consistent, disciplined approach dating back to the firm’s Harvard endowment heritage, Charlesbank focuses on several core sectors where it has extensive industry expertise: business and consumer services, healthcare, industrial, and technology and technology infrastructure.

Drawing on decades of pattern recognition and a data-driven thematic approach, Charlesbank seeks out attractive opportunities across its three complimentary strategies: flagship private equity, technology opportunities and opportunistic credit, all of which collaborate closely. This rigorous, analytical approach to investing is deeply embedded in the firm’s DNA, as Charlesbank has been actively investing for over 25 years and continually draws on its insights and experience to generate informed perspectives around investable industry trends. With its robust industry knowledge and operational resources, the firm helps proven management teams accelerate growth, with a particular focus on founder-led companies, corporate carve-outs, transformational opportunities and M&A platforms.

“We are honored to be recognized by GrowthCap as a Top Private Equity Firm for our 26-year track record growing and scaling companies across the middle market, this recognition is a testament to our team and the long-standing relationships we’ve built with founders and CEOs over the years.” – Michael Choe, CEO and Managing Director

 

Bregal Sagemount

 

Bregal Sagemount is a leading growth-focused private capital firm with more than $7.5 billion of cumulative capital raised since its inception in 2012. The firm provides flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations. Bregal Sagemount has invested in over 70 companies in a variety of sectors, including software, information/data services, financial technology & financial services, digital infrastructure, healthcare IT, and business & consumer services. The firm has offices in New York, Palo Alto, and Dallas.

“At Sagemount, we collaborate with founders and entrepreneurs to help accelerate growth and create value. We take a custom approach to every investment, combining flexible capital and value-creation solutions to address the unique needs of successful entrepreneurs. We believe our partnership helps deliver outsized outcomes for our companies.” – Gene Yoon, Managing Partner and Founder

 

Brighton Park Capital

 

Founded in 2019, Brighton Park Capital (“BPC”) is an investment firm focused on entrepreneur-led, growth-stage software, healthcare, and tech-enabled services companies. The firm invests in companies that provide highly innovative solutions in partnership with great management teams. BPC brings purpose-built, value-add capabilities that match the unique requirements of each of its companies to build market leading products and to execute the needed strategies to create important global companies. The firm’s operating centric approach supports these fast growth companies in organizational development, product, go-to-market, business development, and corporate development.

BPC is an investor in many industry-leading companies including PortSwigger, Storyblok, Silverfort, LucidLink, Paradox, OPSWAT, Indegene, Xsolis, RocketReach, Coralogix, and HTEC. The firm manages nearly $4 billion and closed its second fund, which was oversubscribed, in 2022.

“Brighton Park’s culture of collaboration and partnership with great management teams serves as the foundation of our investment approach. Being honored by GrowthCap as a Top Private Equity Firm for the second consecutive year is a testament to our dedicated approach of delivering bespoke, value-enhancing strategies to our portfolio companies, and we are excited about sustaining this momentum in the years to come.” – Mark Dzialga, Managing Director

 

Pamlico Capital

 

Founded in 1988, Charlotte-based Pamlico Capital seeks growth and buyout investments of up to $200 million alongside founders and proven leaders across five target sectors: communications, healthcare IT, information services, software and tech-enabled services. The firm closed its most recent fund in 2020 at the hard cap of $1.4 billion.

Over the past 35+ years, Pamlico has invested almost $5 billion in over 130 platform acquisitions, and has built a reputation of being a founder-friendly, long-term focused investor that prioritizes partnership with its management teams. The firm takes a comprehensive and collaborative approach with each of its portfolio companies, helping with initiatives like strategic planning, portfolio best practice sharing, go-to-market strategy, human capital and M&A advisory. Pamlico’s culture is rooted in a people-first mentality, which has contributed to its longstanding team and 20-year average partner tenure.

“We are honored to be included again on GrowthCap’s Top Private Equity Firms list. We think what sets Pamlico apart is not just what we do, but how we do it—combining a true partnership approach with a genuine sense of fun. None of this would be possible without our executives and portfolio companies who are at the heart of our success, and we are excited to continue this journey together.” – Art Roselle, Partner

 

H.I.G. Growth Partners

 

H.I.G. Growth Partners is the dedicated growth capital affiliate of H.I.G. Capital, a global alternative investment firm founded in 1993 with $64 billion* of assets under management. Focusing on the small-cap and mid-cap segments of the market, H.I.G. Growth invests in growing, technology-oriented businesses across sectors including SaaS, cloud & data software, financial technology, e-commerce & consumer technology, healthcare technology, and tech-enabled services. The firm makes both majority and minority investments throughout North America, Europe and Latin America.

H.I.G. Growth leverages the resources of the overall H.I.G. Capital platform, including over 500 investment professionals, 18 office locations, and over 100 active portfolio companies. Its extensive network and resources include a portfolio operating team that creates value in partnership with portfolio companies, accelerating their growth in areas including talent, go-to-market, digital transformation, and FP&A.

*Based on total capital commitments managed by H.I.G. Capital and affiliates.

“At H.I.G. Growth, we pride ourselves on close collaboration and partnership with founders, CEOs, and entrepreneurs. We draw upon the extensive reach, scale, and expertise accumulated from over three decades of investment experience at H.I.G. Capital to deliver exceptional outcomes for our companies. We’re honored to be recognized among GrowthCap’s list of Top Private Equity Firms and remain committed to our partnership-focused approach.” – Ross Hiatt, Managing Director and Head of H.I.G. Growth Partners

 

HealthQuest Capital

 

HealthQuest Capital is a private equity firm that provides capital to transformative healthcare companies. HealthQuest Capital focuses on commercial prospects that drive enhanced patient outcomes and elevate the efficiency of healthcare delivery. With approximately $2 billion in capital under management, the firm focuses on fostering innovation across the healthcare spectrum, including medical technologies, diagnostics and tools, digital health, and innovative services. The HealthQuest Capital team combines decades of investing experience with domain expertise in the various aspects of the healthcare industry.

“Being named a Top Private Equity Firm is a testament to the hard work of our team and portfolio companies for the last 12 years. We have been diligently expanding our platform to continue to be a trusted and catalytic partner to our companies; striving to provide excellent service to our companies in this evolving landscape.” – Garheng Kong, Managing Partner

 

Serent Capital

 

Serent Capital is a growth-focused private equity firm investing in capital-efficient, B2B SaaS and technology companies. From its founding, Serent set out to build a distinctly different firm that prioritizes founders and their companies and provides true hands-on resources through its 25+ person Growth Team. Serent’s in-house Growth Team is equipped with a wide range of resources to help companies accelerate growth, including strategic and operational support to drive revenue generation, assistance in building a top-tier executive team, guidance for transformative M&A, and a community of 400+ founders and operating executives. With $5 billion of assets under management, the firm has partnered with over 60 founder-led, industry-changing companies and offers unparalleled hands-on operational support.

“Receiving this award for the third year in a row is a testament to our unwavering commitment to helping exceptional, founder-led companies scale through a hands-on, operational approach. I’m proud of the work we do and the value we create with our partners. Being recognized by GrowthCap is an honor, and we eagerly look forward to continuing our partnerships to achieve outstanding outcomes.” – John Caselli, Partner

 

Mainsail Partners

 

Mainsail Partners is a growth equity firm that invests in growing, bootstrapped software companies. The firm has been investing in bootstrapped companies for more than 20 years with a focus on B2B software that is often the core operating system for the businesses they serve. 

Mainsail has a dedicated Operations Team that is purpose-built to work alongside software company management teams to help scale operations and accelerate growth. Mainsail works closely with portfolio companies to assist with various growth initiatives, including hiring for key management positions, optimizing go-to-market strategies, accelerating product development, M&A execution and much more. 

With offices in Austin and San Francisco, Mainsail has raised over $2.2 billion in committed capital and has invested in more than 70 companies.

“At Mainsail, we partner with founders of growing, bootstrapped software companies to help them realize their full potential. We take great pride in our partnerships and our team is committed to working closely with our portfolio companies, providing the support and experience to help drive growth. For more than 20 years, our focus on founder-led B2B software companies has equipped Mainsail with an understanding of how to be helpful, while respecting and building on their culture, vision and commitment to customers. Mainsail puts people and culture at the heart of our partnerships as we strive to help companies become B2B software category leaders.” – Gavin Turner, Managing Partner

 

One Peak

 

One Peak is a leading growth equity firm investing in high-growth software scale-ups. With approximately $2 billion in assets under management, One Peak brings a track record of success helping founders realize ambitious goals from global expansion to exit.

Over the past decade, One Peak has partnered with innovative entrepreneurs behind some of the fastest growing software companies. Select investments include Ardoq, Coro, Cymulate, Deepki, Docplanner, Keepit, Lucca, Neo4J, Pandadoc, Spryker, and many more.

What differentiates One Peak is its people and technology platform, engineered to take entrepreneurs to the next level of growth. One Peak’s investment team and value creation team of former C-level executives at top software companies work alongside founders in the areas of talent, sales, marketing, product, and strategy, across the growth journey. 

One Peak founders also benefit from access to Pulse, One Peak’s proprietary market intelligence engine monitoring billions of private tech market data points. Pulse empowers entrepreneurs with unique access to relevant talent, attractive M&A opportunities, and unparalleled market intelligence.

“For 10 years, we’ve been incredibly fortunate to partner with visionary scale-up founders and teams across their growth journey as they build category-defining companies. We’re pleased to be recognized as a leading private equity firm and partner of choice for the most innovative software companies.” – Humbert de Liedekerke Beaufort and David Klein, Co-Founders and Managing Partners

 

Sverica Capital Management

 

Sverica Capital Management is a leading growth-oriented private equity firm that has committed capital of $2 billion across six funds. The firm acquires, invests in, and actively builds companies that are, or could become, leaders in their industries. Since inception, Sverica has followed a “business builder” approach to investing and takes an active supporting role in its portfolio companies. Sverica devotes significant internal time and resources to help its management teams develop and execute growth strategies and proactively looks for levers to pull to accelerate growth by reinvesting back into those companies. Sverica firmly believes in building businesses collaboratively that can endure for the long term by starting with a strong foundation and bringing the right people and playbook to drive reinvestment and ultimately strong returns for its investors. Sverica has offices in Austin, Boston and San Francsico and has made 47 platform investments since inception.

“We specialize in partnering with emerging and founder-based businesses, scaling them to their full potential, and putting the leadership and infrastructure in place to ensure their continued success long after our divestment. Sverica was founded specifically for entrepreneurs who know what it takes to be successful, who put people first, who have worked hard to build a unique business, who push the boundaries within their industry, and who choose to partner with seasoned professionals who have shared values but different talents and perspectives.” – Dave Finley, Jordan Richards, and Frank Young, Managing Partners

 

Guidepost Growth Equity

 

Guidepost Growth Equity (“Guidepost”) is a leading growth equity firm based in Boston that manages ~$2.0 billion of capital commitments across four funds. Guidepost partners with entrepreneur-led technology businesses, focusing on application software and data services and infrastructure software and tech-enabled services. Guidepost invests between $15-75 million of equity as a minority or majority partner and provides the flexible capital, operational support, and strategic guidance necessary to enhance the continued growth of its companies.

Guidepost provides portfolio company operational support through its Value Creation Group (“VCG”) which is focused on five critical areas for growth stage companies: Product & Technology, Strategic HR, Sales & Marketing, Generative AI and Strategy & Operational Finance. Guidepost has developed best practices, maturity models and an operating advisor network available to its investment partnerships across these functional areas. The firm is exclusively focused on partnering with entrepreneur-led companies utilizing technology to transform dynamic markets. As a trusted partner to its companies, Guidepost works closely with these entrepreneurs to build strong independent Boards of Directors, augment management teams for scalable functional capabilities, evaluate strategic options, and provide critical operational and financial support.

“At Guidepost, we focus on partnering with bootstrapped, entrepreneur-led enterprise software and technology-enabled businesses demonstrating significant organic, profitable growth and typically $10-$50 million of revenue scale. We build trusted minority or slight majority partnerships with our management teams through impactful strategic, financial, and operational assistance entirely at this stage of growth. The expertise of our Value Creation Group (“VCG”) is a key differentiator in this part of the market, where Guidepost’s relationships with executives in our core industry groups provide crucial functional assistance in the areas that are often underdeveloped for growth stage companies and that are required to build to $100M+ of revenue scale.” – Gene Nogi, General Partner

 

Five Elms Capital

 

Five Elms Capital is a global growth equity firm that invests in fast-growing B2B software businesses that users love. Five Elms provides capital and resources to help companies accelerate growth and further cement their role as industry leaders.

Since firm inception in 2007, Five Elms has focused exclusively on software investing, building an unmatched network and deep domain expertise. Today, with over $2.4 billion in assets under management and a global team of over 70 investment professionals, Five Elms has invested in more than 65 software platforms globally.

“At Five Elms, we believe great products + great people create great outcomes. We invest in growing software companies, helping them improve operating performance to accelerate growth and derisk the path to long-term value creation. Thank you to GrowthCap for recognizing our team in this list of great investors.” – Fred Coulson, Founder and Managing Partner

 

NewSpring Capital

 

NewSpring is a lower-middle market focused private equity firm that partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The firm manages approximately $3.5 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Having completed over 250 investments, NewSpring brings a wealth of knowledge, experience, and resources to take growing companies to the next level and beyond. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries.

“We are truly honored to be recognized as one of the Top Private Equity Firms of 2024 by GrowthCap. At NewSpring, our mission is to partner with high-performing companies in the lower-middle market to catalyze their growth and help them reach their full potential. This award is a testament to the unwavering commitment of our team and the strong, collaborative relationships we have built with our portfolio companies. Thank you to GrowthCap for this recognition as we remain dedicated to helping visionary leaders and companies achieve extraordinary outcomes.” – Michael DiPiano, Managing General Partner

 

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Copyright: The Top Private Equity Firms of 2024 publication is copyrighted material, produced and published by GrowthCap, LLC. For information pertaining to content permissions, please refer to GrowthCap’s award usage regulations.

DisclaimerThe data provided in this publication is for informational purposes only and should not be construed as investment advice, endorsement, nor recommendation. GrowthCap believes the information in this publication to be accurate but does not verify its accuracy independently and does not warrant or guarantee that it is accurate or complete. GrowthCap has no obligation to provide any updates or changes to the information. No investment decisions should be made using this information.

 

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