Top 100 Global Private Markets Firms Raise $5.74 Trillion in Five Years
According to the inaugural report by PEI Group, the top 100 private markets managers globally raised a total of $5.74 trillion between 2021 and 2025 — surpassing Germany’s annual GDP for that year. The ranking includes firms active in private equity, real estate, infrastructure, credit, and secondaries. Blackstone led the list with $356.7 billion raised over five years, followed by KKR at $302.2 billion and Goldman Sachs Alternatives at $215.3 billion. The report highlights a growing trend of convergence among private market managers who are no longer confined to single asset classes. Sixteen firms in the top 100 raised capital across all five strategies, with seven of the top ten active in each category. Ares Management saw significant growth by expanding its presence in credit and secondaries markets. The report also notes that much of this convergence is driven through acquisitions rather than organic expansion, as seen with KKR’s acquisition of Arctos Partners and EQT's purchase of Coller Capital.
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Topics: infrastructure private credit private equity real estate secondaries