Guide to New York Private Equity
Introduction to New York
New York City may not be the capital of the New York state but nonetheless it reigns as the financial capital of the world. In fact, the economy of New York City is the largest regional economy in the United States and the second largest city economy in the world, second only to Tokyo. New York City’s economy is supported by Wall Street and its financial sector, supporting more than 300,000 employees. The financial sector accounts for around 35% of the total income in the city. Six major exchanges are located in NYC and include the American Stock Exchange, International Securities Exchange, New York Board of Trade, New York Mercantile Exchange, NASDAQ, and the New York Stock Exchange. The NYSE and NASDAQ are two largest exchanges in the world.
Additionally, the Federal Reserve Bank of New York is the center of monetary policy in the United States. While actual policy decisions are made in the capital, Washington, D.C., the New York Fed is the largest and most important federal reserve bank in terms of assets. The New York Fed conducts open market operations through the acquisition and sale of U.S. Treasury securities.
Private Equity in New York
There are around 2,800 private equity firms that are headquartered in the United States. New York boasts more than 300 private equity firms including some of the largest in the world. Four of the top six private equity firms are headquartered in New York and include Goldman Sachs Capital Partners ($47 billion AUM, KKR ($40 billion AUM), The Blackstone Group ($36 billion AUM), and Apollo Management ($33.8 billion AUM).
However, while many private equity firms are not headquartered in New York City, the vast majority have an office in the finance metropolis. Many consider it a necessity to open an office in New York to gain access to valuable capital from many of the worlds largest investors, family offices, and business opportunities. Since NYC is the capital of the financial world, it also is the largest private equity hub.
New York Private Equity Resources Guide
1. The New york Private Equity Network lists more than 300 firms based in NYC
2. This article lists the top 15 New York private equity firms by assets under management.
3. Private equity firms often raise capital from family offices based in New York.
4. See why Private Equity Investments are rising in NY
Click here to see our complete regional guides to the private equity industry around the globe including Asia, the United States, Latin America, Europe, the Middle East, Australia, North America, and many other cities, regions and countries.
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