US Private Equity AUM Hits $3.128 Trillion, Led by Smaller Firm Growth
Assets under management (AUM) for US private equity firms surged to $3.128 trillion as of September 2024, marking the highest level since December 2020, according to new data from S&P Global Market Intelligence.
The five-year upward trend in AUM was driven in part by outsized growth among smaller firms. Between 2022 and 2023, 37 SEC-registered private equity and venture capital firms more than doubled their AUM. While most of these firms had less than $1 billion in AUM in 2022, a few exceptions—such as CIVC Partners LP, Aquarian Holdings Investment Management LLC, and Multicoin Capital Management LLC—stood out with larger asset bases.
Leading the group was One Madison Group LLC, which posted a staggering 3,119% increase in AUM, growing from $189 million in 2022 to $6.08 billion in 2023.
Despite these outliers, the overall median AUM across the group held steady year-over-year, with a slight dip from $954 million in 2022 to $946 million in 2023.
The full analysis provides insights into trends that could reshape private equity strategies and capital allocations in 2025. Read the full report here.
