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The largest private equity firms in London are CVC, ICG, Hg, Permira, Bridgepoint, Apax, Cinven and 3i. Each manages or has raised tens of billions, and Hg is the only London-headquartered firm in the 2026 PEI 300 top ten.
The headline numbers are not like for like. Some firms report total assets under management (AUM), some report fee-paying AUM and some report capital raised. Much of that capital sits in credit, infrastructure or secondaries.
This guide ranks the main London firms, shows what each number measures and explains how to use the list for recruiting or deal work.
Each figure is the firm’s latest reported number, and the measure column shows what it counts.
| Firm | Headline size | Measure (date) | Main focus |
|---|---|---|---|
| CVC | €153bn | Fee-paying AUM (30 June 2026) | Large-cap buyouts, credit, secondaries, infrastructure |
| ICG | $126bn | Total AUM (31 March 2026) | Structured and private equity, credit, real assets |
| Hg | c.$100bn | Total AUM (November 2025) | Software and tech-enabled services |
| Permira | €100bn | Committed capital (2026) | Tech, consumer, healthcare, services, plus credit |
| Bridgepoint | €85.1bn | Total AUM (30 June 2026) | Mid-market buyouts, credit, infrastructure |
| Apax | c.$80bn | Aggregate funds raised | Tech, services, healthcare, internet and consumer |
| Cinven | Over €50bn | Total funds raised | European buyouts across six sectors |
| 3i | £30.9bn | Net asset value (31 March 2026) | Permanent-capital private equity and infrastructure |
CVC is headquartered in Luxembourg but has a large London presence, so most London candidates treat it as a London firm. Private Equity International’s PEI 300 ranks managers on private equity capital raised between January 2021 and December 2025. On that basis Hg is sixth globally with $70.2bn raised. KKR ($140.4bn) and EQT ($134.4bn) top the list, with Blackstone, TPG and Thoma Bravo also ahead of Hg.
These are the firms that lead large European buyouts and hire London analysts and associates every year.
Three of the largest London managers are listed on the London Stock Exchange. Their results show fund sizes and strategy splits in detail.
Read these reports before an interview to get current fund names, sizes and recent deals.
London also has a deep mid-market, where deal teams are smaller and analysts get more responsibility early. Two 2026 fundraises show the scale of this part of the market:
Other London names you will meet in mid-market processes include Montagu, Exponent, Charterhouse and Livingbridge. Check each firm’s latest fund size on its own site before you apply or pitch.
Many of the biggest global sponsors run their European business from London. KKR, Blackstone, Carlyle, Advent International, Bain Capital and TPG all have London deal teams, and Stockholm-based EQT also has a London office.
These offices usually cover UK and European deals for a global fund. You get large-cap deal flow, but the London team is a small part of the firm’s total headcount.
A common mistake is to treat headline AUM as the size of the buyout business. For a multi-strategy manager, a large share of the number sits in credit, infrastructure or real estate.
Bridgepoint shows the gap. Its interim results split AUM by strategy:
Private equity AUM = €35.6bn
Total AUM = €85.1bn
Private equity share = €35.6bn / €85.1bn = 41.8%.
So less than half of Bridgepoint’s AUM is private equity. At CVC, credit, secondaries and infrastructure make up more than 55% of fee-paying AUM.
Use these checks when you compare firms:
UK Private Capital, the industry body formerly called the BVCA, reported that UK-managed funds raised £58.7bn in 2025. The same report showed £25.0bn invested into more than 1,400 UK businesses, with 57% of them outside London.
For recruiting, sort the market into three groups and target each differently:
For pay expectations once you are in, see our guide to private equity VP salary and carry.
If you are mapping the London market more widely, these lists cover the adjacent firms:
By firm-reported size, CVC and ICG are the largest, with €153bn of fee-paying AUM and $126bn of AUM respectively. Both include large credit businesses. On private equity capital raised from 2021 to 2025, Hg ranks highest among London-headquartered firms, sixth in the PEI 300 with $70.2bn.
CVC is headquartered in Luxembourg and listed in Amsterdam, and has a large London presence. For recruiting purposes most candidates group it with London firms, and it hires London analysts and associates alongside Permira, Apax and Cinven.
Inflexion, Montagu, Exponent, Charterhouse and Livingbridge are common London mid-market names. Inflexion’s €4.5bn Buyout Fund VII targets businesses worth about €250m to €1bn. Bridgepoint also invests in the mid-market through its Europe and Development Capital funds.
Compare the latest flagship fund size first, because it sets deal size and team workload. Then check private equity AUM separately from credit and infrastructure, the firm’s sector focus and the size of its London team. Use the firm’s own results where it publishes them.
The largest private equity firms in London are CVC, ICG, Hg, Permira, Bridgepoint, Apax, Cinven and 3i, with Inflexion’s €4.5bn Buyout Fund VII a large mid-market close in 2026. Before you use any ranking, check what the number measures and how much of it is buyout capital.
P.S. If you are building an outreach list of London and European funds, start with the Private Equity & Venture Capital Fund Database – EMEA. Browse our Premium Resources for additional tools, and join the Private Equity Bros newsletter for weekly finance updates and the latest financial reports.
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