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Back to blog November 10, 2018 No Comments Author: Andy Jones

Private Equity Firms – Form PF Data

Private equity firms that operate private funds with at least $150 million in assets must file a Form PF (“Private Fund”) with the SEC. Individual firm filings are confidential and are therefore not covered under the Freedom of Information Act. I know, because I asked.

That said, the SEC publishes quarterly statistics about these private equity funds in aggregate. Here are a few interesting points from the SEC report:

  • The private equity firms collectively operate about 12,000 individual funds.
  • For “Section 4 Private Equity Funds” – those firms with more than $2 billion in Assets under Management (AuM) – 95% are located in the U.S., but only 61% of their funds are domiciled in the U.S.
    • 30.4% are domiciled in the Cayman Islands
    • 2.7% United Kingdom
    • 1% Bermuda
    • 1% Canada
  • Section 4 private equity funds raise their funds from the following categories of limited partners:

Private Equity Limited Partner Types