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American Investment Council Releases New Report on Top States and Districts with Private Equity Investment

WASHINGTON, D.C. – Today, the American Investment Council released its annual Top States & Districts report, which ranks the country’s top twenty states and Congressional districts by total private equity capital and the number of companies receiving investment in 2022.

Key findings from the report include:

  • California received the most private equity investment than any other state, with $172 billion in capital invested. The top 5 states include:
    • California – $172 billion invested in 1,006 PE-backed companies
    • Texas – $82 billion invested in 624 PE-backed companies
    • Florida – $74.4 billion invested in 570 PE-backed companies
    • New York – $70.4 billion invested in 488 PE-backed companies
    • Illinois – $66.4 billion invested in 352 PE-backed companies

  • The ranking of the top 20 districts spanned across 14 states, in every corner of the country. The highlights from the report include:
    • Rep. Nancy Pelosi’s CA-11 – $72.6 billion invested in 78 PE-backed companies
    • Rep. Jerry Nadler’s NY-12 – $27.5 billion invested in 148 PE-backed companies
    • Rep. Danny Davis’s IL-7 – $20.4 billion invested in 89 PE-backed companies
    • Rep. Katherine Clark’s MA-5 – $19.5 billion invested in 38 PE-backed companies
    • Rep. Beth Van Duyne’s TX-24 – $10.1 billion invested in 46 PE-backed companies
    • Rep. Mike Kelly’s PA-16 – $9.2 billion invested in 15 PE-backed companies
    • Rep. Andy Ogles’s TN-5 – $7.5 billion invested in 42 PE-backed companies

  • Commercial services – such as manufacturing and logistics – and information technology attracted more than half of US private equity investment in 2022

  • Private equity supported critical industries in every state across the country, including investments in health care, renewable energy, manufacturing, and agriculture, environmental services, education and restaurants. The report includes case studies and data on each industry.

“Our annual Top States and Districts Report underscores how private equity is supporting businesses and jobs in every state across the nation,” said AIC President and CEO Drew Maloney. “Every corner of the country is home to some of the most innovative and successful companies in the world, thanks in large part to the capital provided by the private equity industry. I am particularly proud of the support our industry continued to provide to companies recovering from the economic downturn caused by COVID-19. From capital to day-to-day guidance from operating partners, America’s companies are stronger today because of private equity.”

The vast majority — 62% — of private equity investment went to small businesses employing 500 workers or less.

Last year, as the economy recovered from the economic downturn caused by COVID-19, business owners and American workers found a steady partner in private equity during uncertain times. Private equity-backed companies significantly outperformed their unsponsored peers during the economic downturn caused by the COVID-19 pandemic in 2020, according to new academic research. Private equity-backed companies had higher growth in sales, assets, head count, and other key performance metrics in 2020 and 2021.

To learn more, read the full 2023 Top States & Districts report.

Top States and Districts in 2022 ReportDownload