Top Industrials Private Equity Firms by Fund Size

The largest industrials private equity firms by latest flagship fund are Clayton Dubilier & Rice (about $26bn), Platinum Equity ($12.4bn), KPS Capital Partners ($8.0bn) and Arcline ($6bn). Specialists such as Greenbriar, American Industrial Partners, One Equity Partners and Industrial Growth Partners follow, with Triton leading in Europe.

For you, fund size is a good guide to deal size. A $26bn fund writes far larger equity cheques than a $1.2bn fund focused on middle market industrial companies. Pick targets for recruiting or deal coverage on that basis.

We rank the US-dollar funds by the size of each firm’s most recent closed flagship fund, using closes announced between April 2022 and February 2026. Figures are headline totals as announced, and for diversified firms the whole fund counts. Triton is Europe-focused and raises in euros, so it is listed separately.

Which are the top industrials private equity firms?

The table ranks eight firms by their latest closed flagship fund.

Triton Partners closed Fund 6 at €5.5bn in March 2026, with industrial technology as one of three core sectors.

Diversified firms with large industrials practices

These two firms invest across several sectors, with industrial businesses as one of their main areas.

1. Clayton Dubilier & Rice

Clayton Dubilier & Rice (CD&R) closed Fund XII at about $26bn in August 2023, its largest fund to date, according to law firm Debevoise & Plimpton. Private Equity Wire reported that the total included $2.5bn of the firm’s own capital.

CD&R invests in four sectors: healthcare, consumer and retail, technology and industrials, and business services. In January 2026 it was targeting $26bn for its next flagship fund, a total that could pass $28bn with its own commitment.

2. Platinum Equity

Platinum Equity closed Fund VI with $12.4bn of commitments in the first half of 2024, above its $12bn target and its largest raise to date. The firm was founded by Tom Gores.

Platinum calls its approach M&A&O, short for mergers, acquisitions and operations. In 2024 it completed 12 new platform acquisitions and 59 add-ons, across sectors including aerospace and defence, food and beverage and medical products.

Industrial specialist private equity firms

These firms put industrial companies at the centre of their strategy, and One Equity Partners pairs industrials with healthcare and technology. Rank follows the fund size in the table.

3. KPS Capital Partners

KPS Capital Partners makes controlling equity investments in global manufacturing and industrial companies. It specialises in complex corporate carve-outs, turnarounds, restructurings and other special situations.

KPS held final closes for Special Situations Fund VI at $8.0bn and Mid-Cap Fund II at $1.7bn on 25 October 2023, for $9.7bn in total. Its website lists 22 active investments operating 277 manufacturing facilities.

4. Arcline Investment Management

Arcline held the final close of Fund IV on 15 October 2025 with $6bn of primary commitments, according to Kirkland & Ellis. Infor Capital reported that the fund was raised in under 10 months.

Fund IV targets defence, aerospace, industrial technology, life sciences, energy transition and specialty materials. Fund IV is a third larger than Fund III, which closed at $4.5bn, and Arcline has only been investing since 2019.

5. Greenbriar Equity Group

Greenbriar Equity Group, based in Greenwich, Connecticut, closed Fund VII with $5.4bn in February 2026. That beat its $4.25bn target and made it the firm’s largest fund.

The portfolio covers logistics, aerospace and defence, business services and advanced manufacturing. Greenbriar invests in targeted sub-sectors with extended growth themes, so expect sector-heavy interview questions.

6. American Industrial Partners

American Industrial Partners (AIP) closed Fund VIII at its $5bn hard cap on 31 October 2023. At that point it managed about $16bn for its limited partners.

AIP focuses on improving operations and growing the earnings of industrial companies. Its portfolio companies ran more than 240 manufacturing and distribution facilities at the time of the close.

7. One Equity Partners

One Equity Partners (OEP) closed OEP VIII with $2.75bn of committed capital in April 2022. It invests in the industrial, healthcare and technology sectors in North America and Europe.

At the time of that close, OEP had about $10bn of combined assets under management and committed capital. Its transatlantic coverage makes it a fit if you want European and US industrial deals in one seat.

8. Industrial Growth Partners

Industrial Growth Partners (IGP) is a San Francisco firm founded in 1997. It invests only in middle market companies in the industrial sector.

IGP closed Fund VI with $1.2bn of commitments in July 2022, according to Cooley. It is the smallest fund on this list.

European industrials private equity firm

Triton is Europe-focused and raises in euros, so it sits outside the dollar ranking.

Triton Partners

Triton Partners closed Fund 6 on target at €5.5bn in March 2026, its largest fund to date. Its core sectors are industrial technology, business services and healthcare.

How to use this list

Fund size tells you deal size, but the firm type tells you what the job involves. Use these checks before you apply or pitch.

• Match fund size to deal size: CD&R and Platinum have the largest funds and write the biggest equity cheques. IGP, with a $1.2bn fund, works only in the middle market.
• Know the strategy: KPS specialises in carve-outs, turnarounds and restructurings, and Platinum pairs acquisitions with operational work. AIP focuses on operations. Arcline and Greenbriar back growth themes in aerospace, defence and industrial technology.
• Check the vintage: a fund closed in 2022 or 2023 is well into its investment period. A firm raising its next fund, as CD&R was in 2026, has usually committed much of its previous one.
• Follow the fundraising: Greenbriar raised $5.4bn against a $4.25bn target, and Arcline raised $6bn in under 10 months. Both firms specialise in aerospace, defence and industrial technology, and both closed their largest fund to date.
• Prepare for sector questions: specialists expect you to discuss aerospace cycles, defence budgets, input costs and plant-level operations. Read their portfolio pages before an interview.

Our top industrials investment banks list shows the advisers on many of these firms’ deals. For other sector rankings, see the top infrastructure private equity firms, the top software private equity firms and the top consumer private equity firms. If you are recruiting in Europe, start with the top private equity firms in London.

FAQ

What is the largest industrials private equity firm?

Clayton Dubilier & Rice has the largest recent flagship fund among firms with a major industrials practice, at about $26bn for Fund XII in August 2023. Among industrial specialists, KPS Capital Partners leads with its $8.0bn Fund VI, closed in October 2023 alongside a $1.7bn mid-cap fund.

What does an industrials private equity firm invest in?

Industrials private equity firms buy manufacturers, distributors, aerospace and defence suppliers, industrial technology companies and related services businesses. Many specialise in carve-outs from larger groups, turnarounds and operational improvement. Arcline, for example, targets defence, aerospace, industrial technology and specialty materials.

Which industrials private equity firms focus on the middle market?

Industrial Growth Partners invests only in middle market industrial companies and closed a $1.2bn fund in 2022. KPS also runs a separate $1.7bn Mid-Cap Fund II for smaller deals alongside its flagship. Both write much smaller equity cheques than the $5bn-plus funds at the top of the list.

Which European firm leads in industrials private equity?

Triton Partners closed Fund 6 at €5.5bn in March 2026, its largest fund, with industrial technology as a core sector. Its other core sectors are business services and healthcare. One Equity Partners also covers European industrial companies from its North America and Europe platform.

Conclusion

The top industrials private equity firms are CD&R, Platinum Equity, KPS, Arcline, Greenbriar, AIP, One Equity Partners and IGP by latest flagship fund, with Triton leading in Europe. Use fund size to judge deal size, and the firm’s strategy to judge the work you would do.

P.S. To build your own target list of buyout funds, try the Private Equity & Venture Capital Fund Database – USA. Our Premium Resources have more tools you may find useful, and the Private Equity Bros newsletter brings you weekly finance updates and the latest financial reports.

Sources

• KPS Capital Partners Raises $9.7 Billion
• American Industrial Partners Closes Eighth Fund at $5 Billion Hard Cap
• Platinum Equity’s 2024 Highlighted by $12.4B Fund VI Close, Ingram IPO, Deal Uptick
• Kirkland Advises Arcline Investment Management on Close of Fund IV
• Debevoise Advises Clayton, Dubilier & Rice in the Closing of Fund XII, an Approximately $26 Billion Fund
• Greenbriar Raises $5.4 Billion in Oversubscribed Seventh Fund
• One Equity Partners Closes $2.75 Billion Private Equity Fund