2015 Annual Global PE VC League Tables Report

PE & VC GLOBAL
2015
Annual
LEAGUE
TABLES
REPORT
6
Most active
PE firms
in 2015
21 32
Most active
VC firms
of 2015 by
sector
Top law
firms for VC
& PE deals
Sponsored
by
S P O N S O R E D BY
Credits & Contact

PitchBook Data, Inc.
JOHN GABBERT Founder, CEO
ADLEY BOWDEN Vice President,
Market Development & Analysis
Content
Contents
GARRET T JAMES BL ACK Senior Analyst

BRIAN LEE Data Analyst
J ENNIFER SAM Senior Graphic Designer
J ESS CHAIDEZ Graphic Designer
Contact PitchBook
pitchbook.com
Introduction
Methodology
PE Firms
VC Firms
15
Lenders
23
Advisors/Accountants & Investment

Banks
26
Law Firms
29
Acquirers
35
RESE ARCH
reports@pitchbook.com
EDITORIAL
editorial@pitchbook.com
SALES
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Contents are based on information from
sources believed to be reliable, but accuracy
and completeness cannot be guaranteed.
Nothing herein should be construed as any
past, current or future recommendation to
buy or sell any security or an offer to sell, or
a solicitation of an offer to buy any security.
This material does not purport to contain
all of the information that a prospective
investor may wish to consider and is not to
be relied upon as such or used in substitution
for the exercise of independent judgment.
3
P I TC H B O O K 2015 A N N UA L G LO B A L P E & VC L E AG U E TA B L E S R E P O R T
INTRODUCTION
A few notes before you peruse the following, comprehensive rankings of private
equity and venture capital activity. For our 2015 Annual Global PE & VC League
Tables, we refreshed the look and feel of each and every table, as well as refined
our methodology somewhat; one of the more important changes to note is the
fact that venture capital rankings do not include VC financings PitchBook tracks
as accelerator or incubator. In addition, we removed a few datasets that, in our
view, were needlessly redundant.
Last but not least, this report has been renamed according to our new report
naming conventions for 2016. Since the report ranks global PE and VC activity
across the entirety of last year, we have titled it 2015 Annual, the better to reflect
the timeframe of the datasets. As always, if you have any questions about our
methodology or the rankings, feel free to reach out to us.
GARRET T JAMES BL ACK

Senior Analyst
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4
METHODOLOGY
LEAGUE TABLES
All league tables are compiled using the count of completed
deals for the specified deal type, region and/or other
criteria.
PRIVATE EQUITY DEALS
The report includes all PE investments (buyout, growth,
PIPE, recapitalization and add-on), excluding real estate
investments. Only investments made directly by PE
investors or their portfolio companies are counted. Buyout
deals are defined as transactions in which the PE investor
receives a controlling ownership stake in the target
company. Growth deals are defined as minority investments.
Add-on deals are defined as acquisitions by companies with
private equity backing.
VENTURE CAPITAL DEALS
This report includes all VC investments (including seed/
angel). Only investments made directly by VCs, incubators/
accelerators and angels are counted. Venture rounds
tracked as accelerator/incubator are not included. As our
league tables are based on round classifications, financings
by investors such as corporate VC arms are included.
LENDERS
Lender league tables look at completed PE deals the lender
provided debt financing for in a given time period or region.
The transaction must involve equity provided by a PE firm.
In league tables for debt-only financings, the transaction
must involve debt financing to a company that is PE-backed
or VC-backed.
U.S. REGIONS
West Coast: Alaska, California, Hawaii, Oregon,
Washington
Mountain: Arizona, Colorado, Idaho, Montana, Nevada,

New Mexico, Utah, Wyoming
Midwest: Iowa, Kansas, Missouri, Nebraska, North
Dakota, South Dakota
Great Lakes: Illinois, Indiana, Michigan, Minnesota,
Ohio, Wisconsin
New England: Connecticut, Maine, Massachusetts, New
Hampshire, Rhode Island, Vermont
Mid-Atlantic: Delaware, D.C., Maryland, New Jersey,
New York, Pennsylvania, Virginia, West Virginia
South: Arkansas, Kentucky, Louisiana, Oklahoma,
Tennessee, Texas
Southeast: Alabama, Florida, Georgia, Mississippi,
North Carolina, Puerto Rico, South Carolina
EUROPEAN REGIONS
U.K. & Ireland: United Kingdom, Ireland, Channel
Islands
GSA: Germany, Switzerland, Austria, Liechtenstein

France/Benelux: France, Belgium, Netherlands,
Luxembourg
Nordic: Denmark, Faroe Islands, Finland, Greenland,
Iceland, Norway, Sweden
SERVICE PROVIDERS
Service provider (SP) league tables are compiled using
the same criteria for deals as the other league tables.
Transactions are not counted twice, meaning if the SP
provided the same service to both the investor and
company on one deal, it would only receive credit for one
deal in the rankings, not two.
Southern Europe: Andorra, Cyprus, Gibraltar, Greece,

Italy, Malta, Monaco, Portugal, San Marino, Spain
EXITS
Exit league tables take into account both full and partial
exits via corporate acquisition, secondary private equity
buyout and IPO. Dividend recapitalizations are not taken
into account in the report.
REST OF WORLD
Any country besides the United States or European nations.
INDUSTRIES & SECTORS

Companies tracked by PitchBook have a primary industry,
as well as secondary industries. For this report, the primary
industry was used to determine rankings by industry and
sector.
For more information on our methodology, contact

reports@pitchbook.com or research@pitchbook.com.
Central & Eastern Europe (CEE): Albania, Belarus,

Bosnia-Herzegovina, Bulgaria, Croatia, Czech Republic,
Estonia, Hungary, Kosovo, Latvia, Lithuania, Macedonia,
Moldova, Montenegro, Poland, Romania, Russia, Serbia,
Slovakia, Slovenia, Ukraine
5
PRIVATE EQUITY FIRMS

Contents
2015s most active global PE investors
2015s Most Active PE Investors
PE Investors by Deal Location
7-8
PE Investors by Firm HQ
9-10
PE Investors by Firm AUM
11
PE Investors by Deal Type
12
PE Investors by Industry
13
PE Investor Exits by Company HQ
14
Firm name
Deal count
The Carlyle Group
79
Kohlberg Kravis Roberts
76
ABRY Partners
74
The Blackstone Group
71
Audax Group
64
Hellman & Friedman
59
HarbourVest Partners
54
Bain Capital
49
Bpifrance
46
Business Growth Fund
46
TPG Capital
46
Ares Capital
42
AlpInvest Partners
40
The Riverside Company
40
Oaktree Capital Management
38
Apollo Global Management
37
GTCR Golder Rauner
37
H.I.G. Capital
37
Vista Equity Partners
37
Ontario Teachers' Pension

Plan
36
Ardian Private Equity
35
Source: PitchBook
6
2015 PE INVESTORS BY
DEAL LOCATION
Most active in U.S.
Most active in Great Lakes
Most active in Mid-Atlantic
Firm name
Deal count
Firm name
Deal count
Firm name
Deal count
ABRY Partners
66
Audax Group
18
ABRY Partners
15
Hellman & Friedman
53
Ares Capital
11
13
Audax Group
49
10
TPG Capital
11
The Carlyle Group
46
Hellman & Friedman
10
45
Hellman & Friedman
10
39
The Carlyle Group
Ares Capital
38
ABRY Partners
The Carlyle Group
38
Madison Dearborn Partners
AlpInvest Partners
GTCR Golder Rauner
34
Onex
NewSpring Capital
31
Prospect Partners
Providence Equity Partners
31
28
AlpInvest Partners
27
TPG Capital
24
Source: PitchBook
Most active in New England

Firm name
Deal count
ABRY Partners
The Gladstone Companies
Source: PitchBook
Most active in West Coast
7
Source: PitchBook
Most active in Southeast
Firm name
Deal count
Firm name
Deal count
Hellman & Friedman
14
Ares Capital
14
12
ABRY Partners
12
ABRY Partners
11
The Carlyle Group
12
11
GTCR Golder Rauner
10
The Carlyle Group
10
Hellman & Friedman
8
Source: PitchBook
Most active in South

Deal count
10
Source: PitchBook
Most active in Mountain & Midwest

Firm name
Deal count
AlpInvest Partners
Firm name
10
Ares Capital
ABRY Partners
11
Hellman & Friedman
CapX Partners
ABRY Partners
GCP Capital Partners
EnCap Flatrock Midstream
Audax Group
H.I.G. Growth Partners
Natural Gas Partners

Plan
Trinity Hunt Partners
GTCR Golder Rauner
Spectrum Equity
C3 Capital
Warburg Pincus
Clearview Capital
Triangle Capital Corporation
Source: PitchBook
WestView Capital Partners
3
Source: PitchBook
7
5
Source: PitchBook
DEAL LOCATION
Most active in Europe
Most active in France & Benelux
Most active in Rest of World
Firm name
Deal count
Firm name
Deal count
Firm name
Deal count
Bpifrance
44
Bpifrance
42
International Finance
Corporation
18
44
CM-CIC Investissement
20
18
Lloyds Development Capital
24
Siparex Group
18
Resource Capital Funds
14
24
Bpifrance Investissement
14
The Carlyle Group
13
EQT Partners
23
Naxicap Partners
13
TPG Capital
12
CVC Capital Partners
22
UI Gestion
13
Bain Capital
11
Maven Capital Partners
22
Arka Capital Investissement
10
The Abraaj Group
11
21
BNP Paribas Dveloppement
10
Bain Capital
20
Value8
10
Caisse de dpt et placement

du Qubec
20
Canada Pension Plan

Investment Board
Equistone Partners Europe
20
20
20
Siparex Group
20
The Carlyle Group
20
Source: PitchBook
Most active in U.K. & Ireland
Source: PitchBook
Most active in GSA
Warburg Pincus
Firm name
Deal count
Co-Investor
AFINUM Management
Firm name
Deal count
Deutsche Beteiligungs
FSN Capital
12
EQT Partners
Bain Capital
11
EQT Partners
11
EVP Capital Management
Norvestor Equity
10
Audax Group
Nordic Capital
Vaaka Partners
Source: PitchBook
Most active in Nordic
Firm name
Deal count
43
24
22
Inflexion Private Equity
18
Firm name
Deal count
Firm name
Deal count
Palatine Private Equity
18
Centerbridge Partners
BaltCap Management
Foresight Group
13
Lifebrain
Baring Vostok Capital

Partners
13
Qualitas Equity Partners
3TS Capital Partners
12
Blue Sea Capital (Croatia)
The Carlyle Group
11
Clessidra Capital Partners
Hartenberg Capital
Endless
10
Source: PitchBook
Source: PitchBook
Most active in Southern Europe
Most active in Central & Eastern Europe
Source: PitchBook
Mid Europa Partners
Source: PitchBook
8
3
Source: PitchBook
FIRM HEADQUARTERS
Most active U.S.
Most active New England
Most active West Coast
Firm name
Deal count
Firm name
Deal count
Firm name
Deal count
The Carlyle Group
79
ABRY Partners
74
Hellman & Friedman
59
76
Audax Group
64
Ares Capital
42
ABRY Partners
74
54
38
71
Bain Capital
49
Genstar Capital
26
Audax Group
64
Summit Partners
30
Marlin Equity Partners
18
Hellman & Friedman
59
TA Associates Management
30
Silver Lake
17
54
28
Platinum Equity
15
Bain Capital
49
Advent International
26
Aurora Capital Group
13
TPG Capital
46
Stone Point Capital
26
Leonard Green & Partners
13
Ares Capital
42
Berkshire Partners
25
Accel-KKR
40
38
37
GTCR Golder Rauner
37
H.I.G. Capital
37
37
Source: PitchBook
Most active Mid-Atlantic
Source: PitchBook
Most active Great Lakes
12
Source: PitchBook
Most active Southeast
Firm name
Deal count
Firm name
Deal count
GTCR Golder Rauner
37
H.I.G. Capital
37
26
18
PNC Erieview Capital
23
MSouth Equity Partners
14
Maranon Capital
20
Pamlico Capital
14
Thoma Bravo
19
Trivest Partners
13
Huron Capital Partners
17
Five Points Capital
12
17
CapitalSouth Partners
Firm name
Deal count
The Carlyle Group
79
76
71
Firm name
Deal count
Firm name
Deal count
40
KRG Capital Partners
19
TPG Capital
46
37
Resource Capital Funds
14
37
Warburg Pincus
32
Cave Creek Capital

Management
13
14
AEA Investors
24
Cornerstone Holdings
13
Lone Star Funds
13
The Goldman Sachs Group
23
Revelstoke Capital Partners
11
Black Diamond Capital

Partners
Corporation
22
C3 Capital
10
Building Industry Partners
Wind Point Partners
Source: PitchBook
Source: PitchBook
Most active Mountain & Midwest
Source: PitchBook
11
Source: PitchBook
Most active South
Cambria Group
9
Source: PitchBook
9
FIRM HEADQUARTERS
Most active Europe
Most active France & Benelux
Most active Nordic
Firm name
Deal count
Firm name
Deal count
Firm name
Deal count
Bpifrance
46
Bpifrance
46
EQT Partners
30
46
AlpInvest Partners
40
Nordic Capital
18
AlpInvest Partners
40
35
Norvestor Equity
15
35
21
FSN Capital
13
31
Siparex Group
21
Vaaka Partners
EQT Partners
30
PAI Partners
16
AP Fonden 6
Apax Partners
25
CM-CIC Private Debt
15
24
14
Bridgepoint
23
Naxicap Partners
13
22
UI Gestion
13
Partners Group
22
21
Source: PitchBook
Most active GSA

Firm name
Deal count
Partners Group
22
Aurelius Investments
10
Deutsche Beteiligungs
10
Lifebrain
21
21
Siparex Group
Source: PitchBook
Most active U.K. & Ireland

Firm name
Deal count
AFINUM Management
46
Co-Investor
31
Apax Partners
25
7
Source: PitchBook
Most active Central & Eastern Europe

Firm name
Deal count
BaltCap Management
Baring Vostok Capital

Partners
3TS Capital Partners
Blue Sea Capital (Croatia)
Enterprise Investors
Hartenberg Capital
Horizon Capital
J&T Finance Group
3
3
MCI Capital
24
Bridgepoint
23
22
21
19
3i Group
18
18
Intermediate Capital Group
17
Source: PitchBook
Source: PitchBook
Most active Southern Europe
Source: PitchBook
Most active Rest of World

Firm name
Deal count

Plan
36
IGI
Onex
26
Government of Singapore
Investment Corporation
21
Clessidra Capital Partners

du Qubec
18
Brait Private Equity
4
4
Canada Pension Plan

Investment Board
17
Orizzonte
Temasek Holdings
14
Portobello Capital
OMERS Private Equity
12
Tamburi Investment Partners
Firm name
Deal count
21 Partners
Source: PitchBook
Source: PitchBook
10
FIRM AUM
Most active $1B-$5B
Most active $5B+
Most active $500M-$1B
Firm name
Deal count
Firm name
Deal count
Firm name
Deal count
The Carlyle Group
79
47
22
76
40
18
ABRY Partners
74
Genstar Capital
26
Huron Capital Partners
17
72
23
CM-CIC Private Debt
15
Audax Group
64
21
NewSpring Capital
14
Hellman & Friedman
59
Siparex Group
21
PNC Mezzanine Capital
12
54
Maranon Capital
20
Webster Capital
12
Bain Capital
49
19
Argosy Private Equity
11
Bpifrance
46
19
Bertram Capital Management
11
TPG Capital
46
18
Brookside Mezzanine
Partners
11
Ares Capital
42
18
CapitalSouth Partners
11
AlpInvest Partners
40
Housatonic Partners
17
JZ Capital Partners
11
38
Wind Point Partners
17
Blue Water Energy
10
37
Spectrum Equity
16
Bregal Partners
10
GTCR Golder Rauner
37
CI Capital Partners
15
Midwest Mezzanine Funds
10
H.I.G. Capital
37
Kohlberg & Company
15
37
Vitruvian Partners
15
Yukon Partners
10
Source: PitchBook
Source: PitchBook

Plan
36
35
Firm name
Deal count
Firm name
Deal count
Warburg Pincus
32
Boathouse Capital
13
UI Gestion
13
31
The Beekman Group
13
BlackEagle Partners
12
EQT Partners
30
Trivest Partners
13
Black Diamond Capital

Partners
Summit Partners
30
11
Ouest Croissance
30
C3 Capital
10
Shore Capital Partners
28
Capitala Group
10
Finorpa
Prospect Partners
10
First Capital Partners
Crdit Agricole
IGI
iXO Private Equity
Victory Park Capital
Source: PitchBook
Most active $250M-$500M
Most active <$250M
Main Capital Partners
Source: PitchBook
11
8
Source: PitchBook
DEAL TYPE
Most active in buyouts
Most active add-on sponsors
Most active in growth/expansion
Firm name
Deal count
Firm name
Deal count
Firm name
Deal count
The Carlyle Group
27
ABRY Partners
64
27
22
Hellman & Friedman
56
Bpifrance
17
20
51
12
Corporation
10
10
Catterton
Kayne Anderson Capital

Advisors
NewSpring Capital
Spectrum Equity
Summit Partners
Co-Investor
Finorpa
Tonka Bay Equity Partners
TPG Capital
H.I.G. Capital
16
Audax Group
47
Audax Group
14
The Carlyle Group
46
Bain Capital
14
44
TPG Capital
14
AlpInvest Partners
38
Apax Partners
12
37
Bpifrance
12
Ares Capital
36
Lone Star Funds
11
Bain Capital
33
11
GTCR Golder Rauner
32
10
28
Ares Management
26
Endless
26
EQT Partners
TPG Capital
25
24

Plan

Plan
24
23
ABRY Partners
Berkshire Partners
21
Aurelius Investments
21
21
Bridgepoint
Onex
21
21
Foresight Group
20
Summit Partners
Platinum Equity
Source: PitchBook
Warburg Pincus
20
Source: PitchBook
12
6
Source: PitchBook
INDUSTRY
Most active in B2B
Most active in B2C
Most active in IT
Firm name
Deal count
Firm name
Deal count
Firm name
Deal count
The Carlyle Group
31
The Carlyle Group
19
ABRY Partners
25
Audax Group
30
17
21
Bpifrance
25
14
16
24
TPG Capital
13
Thoma Bravo
14
22
Ares Capital
12
Summit Partners
13
20
Bain Capital
11
Accel-KKR
12
20
Hellman & Friedman
11
12
ABRY Partners
19
Bridgepoint
10
Insight Venture Partners
11
Ares Capital
18
H.I.G. Capital
10
10
16

Plan
10
10
16
10
Hellman & Friedman
15
15
15
Source: PitchBook
Most active in financial services

Firm name
Source: PitchBook
Most active in healthcare

Firm name
Deal count
Audax Group
20
12
AlpInvest Partners
10
MSouth Equity Partners
Summit Partners
Welsh, Carson, Anderson &

Stowe
Great Point Partners
Lifebrain
Shore Capital Partners
Yukon Partners
Deal count
32
Hellman & Friedman
26
ABRY Partners
23
23
GTCR Golder Rauner
Source: PitchBook
21
19
Stone Point Capital
16
AlpInvest Partners
15
13
11
The Carlyle Group
11
TPG Capital
10
Most active in energy

Firm name
Deal count
13
BlackRock
Centerbridge Partners
EnCap Flatrock Midstream
ARC Financial
ArcLight Capital Partners
Denham Capital Management
Glennmont Partners
Kayne Anderson Capital

Advisors
Warburg Pincus
NextEnergy Solar Fund
Post Oak Energy Capital
Riverstone Holdings
Source: PitchBook
Source: PitchBook
13
5
Source: PitchBook
2015 PE INVESTOR EXITS

BY COMPANY HQ
Most active global
Most active in U.S.
Firm name
Deal count
Firm name
Deal count
Firm name
Deal count
38
21
12
The Carlyle Group
25
Audax Group
14
The Carlyle Group
11
20
14
Royal Bank of Scotland
10
AlpInvest Partners
17
The Carlyle Group
13
3i Group
10
Bain Capital
16
12
LBO France
10
TPG Capital
16
12
10
16
12
Naxicap Partners
Warburg Pincus
15
AlpInvest Partners
11
Audax Group
14
TPG Capital
10
14
Intermediate Capital Group
13
Goldman Sachs Capital

Partners
EQT Partners
13
GTCR Golder Rauner
Apax Partners
13
Ares Capital
13
NewSpring Capital
Bridgepoint
3i Group
13
Siparex Group
12
Bain Capital
12
Welsh, Carson, Anderson &

Stowe
Apax Partners
Stockwell Capital
7
Triton Partners
Warburg Pincus
7
NPM Capital
Sun Capital Partners
Silver Lake
Waterland Private Equity

Investments
H.I.G. Capital
IK Investment Partners
Thomas H. Lee Partners
Nordic Capital
Omnes Capital
Royal Bank of Scotland

H.I.G. Capital
EQT Partners
11
11
10
LBO France
10
Goldman Sachs Capital

Partners
10
10
Source: PitchBook
Source: PitchBook
ABN AMRO Participaties
6
Source: PitchBook
14
VENTURE CAPITAL FIRMS

Contents
2015s most active global VC investors
2015s Most Active VC Investors
15
VC Investors by Deal Stage
16
VC Investors by Deal Location
17-18
VC Investors by Firm HQ
19-20
VC Investors by Sector
21
VC Investor Exits by Company HQ
22
Firm name
Deal count
Sequoia Capital
169
500 Startups
150
New Enterprise Associates
141
Accel Partners
133
Social Starts
79
Andreessen Horowitz
78
Kleiner Perkins Caufield &

Byers
75
GV
74
Intel Capital
74
Bessemer Venture Partners
71
Tiger Global Management
68
First Round Capital
66
Khosla Ventures
65
Index Ventures
63
Greycroft Partners
62
Lightspeed Venture Partners
61
Formation 8
61
General Catalyst Partners
60
Source: PitchBook
15
2015 VC INVESTORS BY
DEAL STAGE
Most active at seed/angel
Most active at early stage
Most active at late stage
Firm name
Deal count
Firm name
Deal count
Firm name
Deal count
500 Startups
84
Sequoia Capital
96
Sequoia Capital
63
Social Starts
47
79
45
Vctor Fernndez Mass
39
Accel Partners
71
Accel Partners
43

Byers
34
Intel Capital
31
31
28
Andreessen Horowitz
26
Finnvera Venture Capital
25
24
Norwest Venture Partners
23
23
21
Salesforce Ventures
21
Wellington Management
21
Techstars
33
500 Startups
61
Slow Ventures
29
GV
45
Paul Holliman
29
First Round Capital
43
Great Oaks Venture Capital
29
Andreessen Horowitz
41
Kima Ventures
27
Greycroft Partners
40
Y Combinator
27
Intel Capital
40
Plug and Play Ventures
24
Matrix Partners
38
Saad AlSogair
24
Formation 8
36
Tech Coast Angels
24
36
SV Angel
22
36
Central Texas Angel Network
21
35
Houston Angel Network
20
Khosla Ventures
35
Wavemaker Partners
20

Byers
35
Qualcomm Ventures
20
Enterprise Ireland
19
Index Ventures
32
Index Ventures
20
Accel Partners
19
Data Collective
31
GV
20
Jeff Heitzman
19
30
Battery Ventures
19
MD Pham
19
Wavemaker Partners
30
IVP
19
New York Angels
18
Qualcomm Ventures
30
Foundry Group
18
Lerer Hippeau Ventures
18
IDG Capital Partners
29
Fidelity Investments
18
StartX
18
High-Tech Grnderfonds
29
Bain Capital Ventures
17
East Ventures
18
28
InterWest Partners
16
Dave McClure
18
Social Starts
27
Venrock
17
SAIF Partners
Source: PitchBook
True Ventures
27
27
Source: PitchBook
16
16
Source: PitchBook
DEAL LOCATION
Most active in U.S.
Firm name
Deal count
Firm name
Deal count
Firm name
Deal count
127
Wisconsin Investment
Partners
16
31
500 Startups
81
Hyde Park Angels
15
26
Accel Partners
76
Queen City Angels
14
Social Starts
24
Andreessen Horowitz
74
14
DreamIt Ventures
20
Social Starts
70
Pritzker Group Venture

Capital
20
Serra Ventures
13
19
Hyde Park Venture Partners
13
Innovation Works
19
Rev1 Ventures
12
RRE Ventures
19
Chicago Ventures
11
Thrive Capital
18
Michigan Angel Fund
10
69
GV
Byers
66
First Round Capital
64
Sequoia Capital
63
Khosla Ventures
61
58
Greycroft Partners
56
Formation 8
55
Source: PitchBook

Firm name
Deal count
Atlas Venture
23
Connecticut Innovations
21
Launchpad Venture Group
18
17
Polaris Partners
17
Maine Angels
15
North Bridge Venture

Partners
13
Source: PitchBook

Firm name
Andreessen Horowitz
500 Startups
Deal count
70
62
58
Most active in Southeast

Firm name
Deal count
RTP Capital Associates
17
IDEA Fund Partners
10
Mosley Ventures
Elevate Innovation Partners
Upstate Carolina Angel

Network
Hatteras Venture Partners
SCRA Technology Ventures
Accel Partners
55
First Round Capital
50
Khosla Ventures
48
Sequoia Capital
47
Firm name
Deal count
GV
47
31

Byers
46
25
Formation 8
42
Capital Factory
11
SV Angel
40
Wild Basin Investments
11
Silverton Partners
10
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
6
Source: PitchBook
Most active in Mountain & Midwest

Firm name
Deal count
Peak Ventures Capital
14
Service Provider Capital
13
Cultivation Capital
13
Desert Angels
13
Foundry Group
12
Missouri Technology
Corporation
12
Kickstart Seed Fund
11
Source: PitchBook
17
DEAL LOCATION
Most active in France & Benelux
Most active in Central & Eastern Europe
Firm name
Deal count
Firm name
Deal count
Firm name
Deal count
51
Bpifrance
40
Neulogy Ventures
13
46
Alven Capital Partners
17
MCI Capital
Enterprise Ireland
42
Kima Ventures
15
Imprimatur Capital
Bpifrance
40
Cap Decisif
12
Practica Capital
Vctor Fernndez Mass
38
Investessor
11
Moscow Seed Fund
Index Ventures
25
IDInvest Partners
11
Credo Ventures
Kima Ventures
24
Partech Ventures
11
Almaz Capital
Rocket Internet
22
Femmes Business Angels
10
Jaan Tallinn
SEED Capital Denmark
21
Octopus Investments
21
Partech Ventures
20
Holtzbrinck Ventures
20
London Co-Investment Fund
19
Finnish Business Angels

Network
19
Scottish Enterprise
19
Source: PitchBook
Most active in U.K. & Ireland

Firm name
Deal count
Enterprise Ireland
42
Vctor Fernndez Mass
23
19
Octopus Investments
Scottish Enterprise
19
18
Northstar Ventures
16
Parkwalk Advisors
16
Mercia Fund Management
16
Index Ventures
15
Imperial Innovations Group
14
Balderton Capital
14
Passion Capital
14
Source: PitchBook
Internet Savvy & Active

Investors
Seventure Partners
4
Source: PitchBook
Most active in GSA

Source: PitchBook
Most active in Nordic
Firm name
Deal count
44
Firm name
Deal count
16
51
Rocket Internet
16
20
IBB Beteiligungsgesellschaft
15

Network
18
b-to-v Partners
15
Tekes
15
German Startups Group
12
Sunstone Capital
12
Earlybird Venture Capital
11
Northzone Ventures
12
VI Partners
Lifeline Ventures
12
Source: PitchBook
Most active in Southern Europe

Firm name
Deal count
Club Digitale
13
Club Italia Investimenti
13
Portugal Capital Ventures
13
Caixa Capital Risc
12
Cabiedes & Partners
11
Almi Invest
11
Northzone Ventures
10
11
Source: PitchBook

Firm name
Deal count
Sequoia Capital
103
500 Startups
56
49
Accel Partners
41
35
SAIF Partners
34
Real Ventures
Source: PitchBook
18
30
Source: PitchBook
FIRM HEADQUARTERS
Most active U.S.
Most active Great Lakes
Most active Mid-Atlantic
Firm name
Deal count
Firm name
Deal count
Firm name
Deal count
Sequoia Capital
169
Pritzker Group Venture

Capital
27
71
500 Startups
150
ARCH Venture Partners
25
68
141
Drummond Road Capital
22
Greycroft Partners
62
Accel Partners
133
Jeff Heitzman
22
50
Social Starts
79
Chicago Ventures
19
RRE Ventures
49
Andreessen Horowitz
78
19
46

Byers
Wisconsin Investment
Partners
75
37
Serra Ventures
18
GV
74
Bloomberg Beta
33
Intel Capital
74
32
71
Firm name
Deal count
OrbiMed Advisors
32
68
Sequoia Capital
169
DreamIt Ventures
30
First Round Capital
66
500 Startups
150
Khosla Ventures
65
141
Greycroft Partners
62
Accel Partners
133
61
Social Starts
79
Formation 8
61
Andreessen Horowitz
78

Byers
Source: PitchBook
Most active West Coast
Source: PitchBook
Source: PitchBook
Most active New England

Firm name
Deal count
60
Battery Ventures
45
Atlas Venture
42
SoftBank Capital
37
Spark Capital
Bain Capital Ventures
Polaris Partners
Wellington Management
Kevin Colleran
Fidelity Investments
Firm name
Deal count
Investors' Circle
23
RTP Capital Associates
18
Hatteras Venture Partners
15
75
IDEA Fund Partners
11
Intel Capital
74
Mosley Ventures
GV
74
Arsenal Venture Partners
Source: PitchBook
Most active Mountain & Midwest

Firm name
Deal count
Techstars
51
Foundry Group
46
MD Pham
28
Cultivation Capital
20
Galvanize
19
EPIC Ventures
17
34
34
31
29
28
27
Most active Southeast
Source: PitchBook
Source: PitchBook
Most active South

Firm name
Deal count
36
29
Mercury Fund
20
Mark Cuban
19
Advantage Capital Partners
16
Rakesh Agrawal
16
Mountain Group Partners
13
Source: PitchBook
19
Source: PitchBook
FIRM HEADQUARTERS
Most active Europe
Most active GSA
Most active France & Benelux
Firm name
Deal count
Firm name
Deal count
Firm name
Deal count
Index Ventures
63
Index Ventures
63
Kima Ventures
47
53
47
Bpifrance
41
47
Rocket Internet
30
Partech Ventures
29
Kima Ventures
47
Point Nine Capital
24
IDInvest Partners
21
Enterprise Ireland
44
21
Alven Capital Partners
20
Bpifrance
41
Earlybird Venture Capital
21
Iris Capital Management
19
Vctor Fernndez Mass
39
Novartis Venture Funds
20
Seventure Partners
14
Rocket Internet
30
Global Founders Capital
17
Ventech
Partech Ventures
29
ACE & Company
17
Point Nine Capital
24
b-to-v Partners
17
Octopus Investments
22
SOSV
22
Source: PitchBook
Most active Nordic
Most active Central & Eastern Europe

Firm name
Deal count
Julien Coustaury
18
Firm name
Deal count
TA Ventures
18
53
DST Global
15
Source: PitchBook
14
Source: PitchBook
Firm name
Deal count
21
MCI Capital
14
45
Novo
20
Neulogy Ventures
14
SAIF Partners
35

Network
20
Yuri Milner
13
Real Ventures
34
Sunstone Capital
19
Maxfield Capital
OurCrowd
34
Saad AlSogair
31
East Ventures
31
Nexus Venture Partners
28
iNovia Capital
26
Kae Capital
24
Kalaari Capital
23
Samsung Venture Investment
22
Horizons Ventures
21
IDG Ventures India
20
Carmel Ventures
20
Cherubic Ventures
20
Tekes
15
Lifeline Ventures
14
Source: PitchBook
Most active Southern Europe
Source: PitchBook
12
Source: PitchBook
Most active U.K. & Ireland

Firm name
Deal count
Enterprise Ireland
44
Firm name
Deal count
Octopus Investments
22
Vctor Fernndez Mass
39
SOSV
22
Portugal Capital Ventures
16
Scottish Enterprise
19
Cabiedes & Partners
13
19
Caixa Capital Risc
13
DN Capital
19
Club Digitale
13
Balderton Capital
19
Club Italia Investimenti
13
Northzone Ventures
18
12
Passion Capital
Almi Invest
Source: PitchBook
20
18
Source: PitchBook
SECTOR
Most active in software
Most active in media
Most active in consumer goods
Firm name
Deal count
Firm name
Deal count
Firm name
Deal count
500 Startups
81
Social Starts
15
Accel Partners
19
Sequoia Capital
76
Sequoia Capital
11
Sequoia Capital
13
Accel Partners
74
Index Ventures
10
12
67
500 Startups
Forerunner Ventures
12
Andreessen Horowitz
48
Accel Partners
12
Social Starts
47
Greycroft Partners
SAIF Partners
10
GV
44
Slow Ventures
Greycroft Partners
40
Source: PitchBook
Most active in IT hardware

Index Ventures
38
Spark Capital
Greylock Partners
36
34

Byers
32
Matrix Partners
32
32
Firm name
Deal count
Salesforce Ventures
32
OrbiMed Advisors
25
RA Capital Management
19
Cormorant Asset
Management
17
Source: PitchBook
Most active in commercial services

Firm name
Deal count
500 Startups
25
Sequoia Capital
22
14
Greycroft Partners
12
Accel Partners
12
Social Starts
12
Wavemaker Partners
12
Y Combinator
10
Salesforce Ventures
10
10
Source: PitchBook
Source: PitchBook
Most active in pharma & biotech
Rock Springs Capital
16
Polaris Partners
15
Novartis Venture Funds
15
15
SR One
15
Novo
14
MPM Capital
12
Pfizer Venture Investments
12
Jennison Associates
12
Firm name
Deal count
Intel Capital
19
Qualcomm Ventures
Sequoia Capital
IDInvest Partners
First Round Capital
Bpifrance
5
Source: PitchBook
Most active in healthcare services,

supplies & systems
Firm name
Deal count
10
Venrock
InterWest Partners
8
Source: PitchBook
Fidelity Biosciences
12
Foresite Capital Management
12
Source: PitchBook
21
2015 VC INVESTOR EXITS

BY COMPANY HQ
Most active global
Most active in U.S.
Firm name
Deal count
Firm name
Deal count
Firm name
Deal count
SV Angel
31
SV Angel
31
Scottish Enterprise
11
Western Technology
Investment
28
26
Enterprise Ireland
10
27
500 Startups
25
500 Startups
27
Western Technology
Investment
24
Verdane Capital
Sequoia Capital
26

Byers
21
CM-CIC Capital Priv
Intel Capital
25
Albion Ventures
Y Combinator
20

Byers
23
Intel Capital
19
Edmond de Rothschild
Investment Partners
Y Combinator
22
Greylock Partners
19
Draper Esprit
Greylock Partners
19
Sequoia Capital
18
Seventure Partners
Index Ventures
18
Khosla Ventures
16
HealthCap Ventures
Accel Partners
18
15
OrbiMed Advisors
Khosla Ventures
16
Techstars
15
Amadeus Capital Partners
Techstars
16
GV
14
Saints Capital
15
Saints Capital
14
Almi Invest
15
Polaris Partners
13
Bonsai Venture Capital
OrbiMed Advisors
14
True Ventures
13
Index Ventures
GV
14
Index Ventures
13
Kreos Capital
Qualcomm Ventures
13
12
Acton Capital Partners
Rock Springs Capital
13
First Round Capital
12
KfW IPEX-Bank
Polaris Partners
13
In-Q-Tel
12
True Ventures
13
Trinity Ventures
12
13
Founder Collective
12
CrunchFund
12
Data Collective
12
12
Source: PitchBook
Source: PitchBook
Source: PitchBook
22
LENDERS
Contents
2015s most active lenders global
2015s Most Active Lenders
23
Lenders by PE Deal Location & Firm HQ
24
Lenders by Deal Type & Industry
25
Firm name
Deal count
Madison Capital Funding
99
Antares Holdings
90
BMO Harris Bank
57
Ares Capital
30
BNP Paribas
28
Golub Capital
28
HSBC Bank
24
RBC Capital Markets
23
RBS Group
23
Fifth Street
22
NXT Capital
22
Deutsche Bank
21
20
Source: PitchBook
23
2015 LENDERS BY PE DEAL

LOCATION
Most active in U.S.
Firm name
Deal count
Firm name
Deal count
Firm name
Deal count
96
HSBC Bank
22
BMO Harris Bank
Antares Holdings
87
BNP Paribas
22
Macquarie Group
BMO Harris Bank
52
RBS Group
22
Antares Holdings
Golub Capital
28
UniCredit
12
Babson Capital Management
Ares Capital
25
Crdit Agricole
11
Bank of Nova Scotia
Fifth Street
22
Barclays
10
RBC Capital Markets
NXT Capital
22
Crdit du Nord
Pacific Road Capital

Management
PNC Financial Services Group
18
Bpifrance
UBS
Scotiabank Global Banking

and Markets
RBC Capital Markets
18
Bank of America
16
CIT Group
16
8
Source: PitchBook
Source: PitchBook
Source: PitchBook
2015 PE DEAL LENDERS BY

FIRM HQ
Most active U.S.
Most active Europe
Firm name
Deal count
Firm name
Deal count
Firm name
Deal count
99
BNP Paribas
28
RBC Capital Markets
23
Antares Holdings
90
HSBC Bank
24
Sumitomo Mitsui Banking
15
BMO Harris Bank
45
RBS Group
23
BMO Harris Bank
13
Ares Capital
30
Deutsche Bank
21
Macquarie Group
12
Golub Capital
28
Credit Suisse
17
Nomura Securities
Fifth Street
22
Bank of Ireland
16
TD Bank Group
NXT Capital
22
Barclays
15
Crdit Mutuel
20
Crdit Agricole
13
Bank of America
19
UniCredit
12
19
Societe Generale
11
Source: PitchBook
Source: PitchBook
24
Source: PitchBook
2015 LENDERS BY DEAL TYPE

Most active in debt-only financings
Most active in other
Firm name
Deal count
Firm name
Deal count
Firm name
Deal count
Antares Holdings
46
Bank of America
49
Silicon Valley Bank
14
45
Antares Holdings
38
Bank of America
10
BMO Harris Bank
36
Wells Fargo
38
HSBC Bank
10
Ares Capital
23
BMO Harris Bank
32
Deutsche Bank
BNP Paribas
23
Barclays Investment Bank
23
BNP Paribas
RBS Group
21
RBS Group
20
Credit Suisse
Deutsche Bank
19
J.P. Morgan
19
RBS Group
Golub Capital
19
Source: PitchBook
Source: PitchBook
7
Source: PitchBook
2015 PE LENDERS BY INDUSTRY

Most active in B2B
Firm name
Deal count
Firm name
Deal count
Firm name
Deal count
48
13
Deutsche Bank
Antares Holdings
45
BMO Harris Bank
12
Sumitomo Mitsui Banking
BMO Harris Bank
22
Golub Capital
BNP Paribas
Bank of America
14
Crdit Agricole
BNP Paribas
13
Ares Capital
Citizens Financial Group
12
Capital One Commercial

Banking
Ally Corporate Finance
HSBC Bank
10
Bank of Ireland
NXT Capital
RBC Capital Markets
2
Source: PitchBook
CIT Group
5
Source: PitchBook
Most active in B2C
Most active in IT
Firm name
Deal count
Firm name
Deal count
Antares Holdings
21
Ares Capital
15
Antares Holdings
RBS Group
BMO Harris Bank
11
Fifth Street
Wells Fargo
RBS Group
Golub Capital
Ares Capital
Ares Capital
Babson Capital Management
Credit Suisse
BNP Paribas
HSBC Bank
HSBC Bank
Apollo Investment
Source: PitchBook
NXT Capital
Source: PitchBook
25
4
Source: PitchBook
ADVISORS, I-BANKS &

PLACEMENT AGENTS
Contents
2015s most active global PE I-banks
2015s Most Active I-banks

I-banks, Advisors & Accountants
by Deal Location
I-banks, Advisors & Accountants
by Deal Type
26
27
28
Firm name
Deal count
Rothschild Group
91
Houlihan Lokey
89
Lincoln International
74
72
William Blair & Company
68
Morgan Stanley
63
Jefferies Group
52
Raymond James Financial
44
J.P. Morgan
42
Credit Suisse
39
Harris Williams & Co.
39
Moelis & Company
39
Robert W. Baird & Co.
36
Citigroup
33
Lazard
33
Deutsche Bank
32
Evercore Group
31
RBC Capital Markets
30
Source: PitchBook
26
2015 I-BANKS BY PE DEAL

LOCATION
Most active in U.S.
Firm name
Deal count
Firm name
Deal count
Firm name
Deal count
Houlihan Lokey
75
Rothschild Group
79
13
55
31
Rothschild Group
11
41
Morgan Stanley
26
UBS
10
39
J.P. Morgan
24
Morgan Stanley
Jefferies Group
38
20
Credit Suisse
38
Lazard
18
TD Securities
36
Citigroup
17
GMP Securities
Moelis & Company
28
Clairfield International
17
Moelis & Company
Morgan Stanley
28
Altium Capital
26
Livingstone Partners
6
Source: PitchBook
16
15
Source: PitchBook
Source: PitchBook
2015 ADVISORS/ACCOUNTANTS
BY PE DEAL LOCATION
Most active global
Most active in U.S.
Firm name
Deal count
Firm name
Deal count
Firm name
Deal count
PricewaterhouseCoopers
172
Deloitte
27
129
Ernst & Young
142
Duff & Phelps
25
Ernst & Young
120
KPMG
134
KPMG
22
KPMG
91
Deloitte
102
16
Deloitte
68
Grant Thornton
46
Barclays
11
Grant Thornton
39
BDO
42
Ernst & Young
11
BDO
29
Duff & Phelps
33
CliftonLarsonAllen
10
Mazars
22
Mazars
23
KeyCorp (Cleveland)
10
Eight Advisory
18
Barclays
21
JP Morgan Securities
DC Advisory Partners
18
BNP Paribas
21
BDO
Source: PitchBook
Source: PitchBook
27
Source: PitchBook
2015 I-BANKS BY DEAL TYPE

Buyouts
PE & VC-backed IPOs
PE & VC-backed acquisitions
Firm name
Deal count
Firm name
Deal count
Firm name
Deal count
Rothschild Group
87
53
68
Houlihan Lokey
78
Morgan Stanley
45
Morgan Stanley
53
67
Jefferies Group
31
Rothschild Group
44
63
30
J.P. Morgan
42
61
J.P. Morgan
24
Credit Suisse
41
Morgan Stanley
56
Piper Jaffray
23
Houlihan Lokey
40
Jefferies Group
43
Citigroup Global Markets
22
Jefferies Group
35
39
Canaccord Genuity
21
35
36
Cowen and Company
21
Citigroup
31
36
RBC Capital Markets
21
RBC Capital Markets
31
Merrill Lynch Pierce Fenner &

Smith
21
Moelis & Company
28
Source: PitchBook
Source: PitchBook
Source: PitchBook
2015 ADVISORS/ACCOUNTANTS
BY DEAL TYPE
Buyouts
PE & VC-backed IPOs
PE & VC-backed acquisitions
Firm name
Deal count
Firm name
Deal count
Firm name
Deal count
158
Latham & Watkins
42
Latham & Watkins
80
Ernst & Young
127
Ernst & Young
35
Kirkland & Ellis
75
KPMG
123
KPMG
32
Cooley
72
Deloitte
90
30
Wilson Sonsini Goodrich &

Rosati
70
Grant Thornton
37
Cooley
28
Jones Day
67
BDO
36
Davis Polk & Wardwell
26
Fenwick & West
63
Duff & Phelps
31
Goodwin Procter
20
Gunderson Dettmer
62
Barclays
20
JP Morgan Securities
19
Weil, Gotshal & Manges
51
Bank of America Merrill Lynch
19
Deloitte
18
Goodwin Procter
50
BNP Paribas
18

Rosati
12
Ernst & Young
46
Numis Securities
11
DLA Piper
46
Mazars
18
Source: PitchBook
Source: PitchBook
28
Source: PitchBook
LAW FIRMS
Contents
2015s most active VC law firms global
2015s Most Active VC Law Firms
29
Law Firms by VC Deal Location
30
Law Firms by PE Deal Location
31
Law Firms by Deal Type
32
Law Firms by VC Sector
33
Law Firms by PE Industry
34
Firm name
Deal count
Gunderson Dettmer
801
Cooley
480

Rosati
398
DLA Piper
288
Goodwin Procter
179
Orrick Herrington & Sutcliffe
161
Latham & Watkins
147
Fenwick & West
96
Morgan, Lewis & Bockius
81
Perkins Coie
68
O'Melveny & Myers
61
Jones Day
60
Source: PitchBook
29
LAW FIRMS BY VC DEAL

LOCATION
Most active in U.S.
Firm name
Deal count
Firm name
Deal count
Firm name
Deal count
Gunderson Dettmer
657
Gunderson Dettmer
68
Gunderson Dettmer
154
Cooley
462
Goodwin Procter
59
Cooley
91

Rosati
381
Cooley
33
DLA Piper
62
DLA Piper
272
Latham & Watkins
24

Rosati
39
Goodwin Procter
160
16
22
Latham & Watkins
136
Foley Hoag
13
Goodwin Procter
21
WilmerHale
13
19
DLA Piper
10
Latham & Watkins
19
Foley & Lardner
Sheppard Mullin Richter &

Hampton
16
125
Fenwick & West
96
75
Source: PitchBook
Perkins Coie
66
O'Melveny & Myers
50
Source: PitchBook

Firm name
Deal count
Gunderson Dettmer
17
Cooley
15
DLA Piper
45
Dorsey & Whitney

Sheppard Mullin Richter &
Hampton
35
Foley & Lardner
33
Sidley Austin
33
Jones Day
31
Firm name
Deal count
DLA Piper
24
12

Rosati
18
Dorsey & Whitney
11
Cooley
12
Much Shelist
Gunderson Dettmer

Rosati
Baker, Donelson, Bearman,

Caldwell & Berkowitz
Source: PitchBook

Firm name
Deal count
Gunderson Dettmer
376

Rosati
289
Cooley
266
Source: PitchBook
Source: PitchBook
Firm name
Deal count
Firm name
Deal count
Gunderson Dettmer
32
Gunderson Dettmer
112
Jones Day
27
Goodwin Procter
14
25

Rosati
14
Dechert
16
11
82
Cuatrecasas, Gonalves
Pereira
10
Derraik & Menezes

Advogados
70
Cooley
10
Cooley
Perkins Coie
51
DLA Piper
10
O'Melveny & Myers
44
Osborne Clarke
10
DLA Piper
129
92
Fenwick & West

Latham & Watkins
Goodwin Procter
87
Source: PitchBook
O'Melveny & Myers
Source: PitchBook
30
8
Source: PitchBook
LAW FIRMS BY PE DEAL

LOCATION
Most active global
Most active in U.S.
Firm name
Deal count
Firm name
Deal count
Firm name
Deal count
Kirkland & Ellis
251
Kirkland & Ellis
213
Travers Smith
54
Latham & Watkins
148
Latham & Watkins
93
Latham & Watkins
53
Jones Day
139
Jones Day
90
Clifford Chance
53
DLA Piper
122
DLA Piper
77
Linklaters
49
Paul Hastings
106
Paul Hastings
76
Squire Patton Boggs
48
84
Goodwin Procter
66
Jones Day
45
Ropes & Gray
78
Ropes & Gray
65
DLA Piper
44
Goodwin Procter
76
63
Allen & Overy
42
Willkie Farr & Gallagher
76
Paul, Weiss, Rifkind, Wharton

& Garrison
57
38
52
73
Source: PitchBook

Firm name
Deal count
Stikeman Elliott
51
Kirkland & Ellis
22
Blake Cassels & Graydon
21
Cassels Brock & Blackwell
18
14
Shearman & Sterling
Firm name
Deal count
Kirkland & Ellis
45
Jones Day
27
Paul Hastings
21
Honigman Miller Schwartz

and Cohn
17
DLA Piper
15
Latham & Watkins
14
Goodwin Procter
14

& Garrison
14
Ropes & Gray
14
13
Fasken Martineau
Source: PitchBook
Kirkland & Ellis
13
Latham & Watkins
Firm name
Source: PitchBook
Deal count
Latham & Watkins
22
21
DLA Piper

Firm name
Deal count
19
Kirkland & Ellis
35
19
Vinson & Elkins
23
Paul Hastings
15
Latham & Watkins
17
Jones Day
12

Rosati
15
Source: PitchBook
35
Source: PitchBook

Firm name
Deal count
Kirkland & Ellis
46
Latham & Watkins
30
Jones Day
21
DLA Piper
21
18
Goodwin Procter
16
Ropes & Gray
16

& Garrison
15
Paul Hastings
Source: PitchBook
37
Kirkland & Ellis
12
Source: PitchBook

Firm name
Deal count
Kirkland & Ellis
17
Latham & Watkins
Choate Hall & Stewart
Source: PitchBook
31
6
Source: PitchBook
2015 LAW FIRMS BY VC

DEAL TYPE
Most active at early stage
Most active at late stage
Most active exits (acq., buyout, IPO)
Firm name
Deal count
Firm name
Deal count
Firm name
Deal count
Gunderson Dettmer
414
Gunderson Dettmer
257
Cooley
88
Cooley
248
Cooley
177

Rosati
75

Rosati
166

Rosati
172
Gunderson Dettmer
71
DLA Piper
129
DLA Piper
104
Fenwick & West
69
91
Goodwin Procter
91
Goodwin Procter
56
Goodwin Procter
79
Fenwick & West
54
Latham & Watkins
43
Latham & Watkins
76
Latham & Watkins
50
DLA Piper
42
Fenwick & West
34
41
Jones Day
35
33
38
26
Jones Day
32
O'Melveny & Myers
31
Source: PitchBook
Source: PitchBook
Source: PitchBook
2015 LAW FIRMS BY PE

DEAL TYPE
Most active in other deals
Most active in exits (IPO & acq.)
Firm name
Deal count
Firm name
Deal count
Firm name
Deal count
Kirkland & Ellis
211
Kirkland & Ellis
40
Kirkland & Ellis
175
Jones Day
121
Latham & Watkins
29
Latham & Watkins
153
Latham & Watkins
118
DLA Piper
20
Jones Day
78
DLA Piper
102
Cassels Brock & Blackwell
19
73
Paul Hastings
96
Jones Day
18
Simpson Thacher & Bartlett
62
74
Goodwin Procter
17
Skadden, Arps, Slate,

Meagher & Flom
60
Ropes & Gray
67

& Garrison
16
57
66

& Garrison
Vinson & Elkins
16
Clifford Chance
57
64
Travers Smith
16
Goodwin Procter
55
Stikeman Elliott
60
Shearman & Sterling
15
DLA Piper
49
Source: PitchBook
Source: PitchBook
32
Source: PitchBook
2015 LAW FIRMS BY VC

SECTOR
Most active in software
Most active in commercial services
Most active in consumer goods
Firm name
Deal count
Firm name
Deal count
Firm name
Deal count
Gunderson Dettmer
386
Gunderson Dettmer
84
Gunderson Dettmer
42
Cooley
208
Cooley
44
Cooley
14

Rosati
162
DLA Piper
34
DLA Piper
14
DLA Piper
128

Rosati
29

Rosati
13
81
Goodwin Procter
23
Goodwin Procter
10
Goodwin Procter
64
Latham & Watkins
17
Latham & Watkins
44
13
Fenwick & West
43
Fenwick & West
12
Perkins Coie
39
35
O'Melveny & Myers
26
Firm name
Deal count
Jones Day
24
Gunderson Dettmer
29
Dorsey & Whitney
15
Cooley
17
Foley & Lardner
13
DLA Piper
17
Dechert
12

Rosati
15
Morris Manning & Martin
11
Sidley Austin
10
Pillsbury Winthrop Shaw

Pittman
10
Source: PitchBook
Most active in pharma & biotech

Firm name
Deal count
Cooley
43
Gunderson Dettmer
34
Goodwin Procter
25

Rosati
24
Latham & Watkins
23
DLA Piper
13
Source: PitchBook
Most active in IT hardware
Source: PitchBook
Most active in healthcare services,

supplies & systems
Source: PitchBook

Firm name
Deal count

Rosati
15
DLA Piper
Cooley
Gunderson Dettmer
4
Source: PitchBook
Most active in cleantech

Firm name
Deal count

Rosati
25
Gunderson Dettmer
15
Latham & Watkins
11
Cooley
10
Firm name
Deal count

Rosati
58
Cooley
52
Gunderson Dettmer
37
Firm name
Deal count
DLA Piper
31
Gunderson Dettmer
49
Dorsey & Whitney
20
Cooley
24
Goodwin Procter
20

Rosati
23
15
Latham & Watkins
14
Fenwick & West
10
10
Source: PitchBook
Most active in media
Source: PitchBook
Source: PitchBook
33
Source: PitchBook
2015 LAW FIRMS BY PE

INDUSTRY
Most active in B2B
Most active in B2C
Most active in IT
Firm name
Deal count
Firm name
Deal count
Firm name
Deal count
Kirkland & Ellis
106
Kirkland & Ellis
50
Kirkland & Ellis
41
Jones Day
60
Latham & Watkins
29
DLA Piper
25
DLA Piper
46
Jones Day
28
Goodwin Procter
22
Paul Hastings
44
Ropes & Gray
23

Rosati
18
Latham & Watkins
43
DLA Piper
22
Latham & Watkins
17
30
Travers Smith
22
Jones Day
16
Stikeman Elliott
25

& Garrison
20
Shearman & Sterling
13
Honigman Miller Schwartz

and Cohn
25
Clifford Chance
19
Cooley
13

& Garrison
23
Allen & Overy
18
12
22
Linklaters
18
Paul Hastings
12
22
17
Squire Patton Boggs
12
Allen & Overy
18
Paul Hastings
17
Choate Hall & Stewart
11
Squire Patton Boggs
18
16
11
Shearman & Sterling
17
Squire Patton Boggs
16
Dechert
17
Goodwin Procter
15
Ropes & Gray
16
Goodwin Procter
15
Hogan Lovells
15
Firm name
Deal count
Firm name
Deal count
Lamartine Conseil
15
Kirkland & Ellis
26
Vinson & Elkins
23
Latham & Watkins
25
Latham & Watkins
15
Ropes & Gray
21
Jones Day
Paul Hastings
19
Thompson & Knight
DLA Piper
18
Kirkland & Ellis
Goodwin Procter
17
McDermott Will & Emery
16
Shearman & Sterling
12
Sidley Austin
Source: PitchBook
Source: PitchBook
Source: PitchBook
Most active in other industries

Firm name
Deal count
Kirkland & Ellis
22
Linklaters
16
Latham & Watkins
16
Clifford Chance
15
Jones Day
14
14
Skadden, Arps, Slate,

Meagher & Flom
13
Jones Day
12
Source: PitchBook
Source: PitchBook
34
6
Source: PitchBook
ACQUIRERS
Contents
2015s most active acquirers of global

PE-backed companies
2015s Most Active Acquirers of PEbacked Companies

Acquirers of PE-backed Companies by
Deal Location & Type
Acquirers of VC-backed Companies by
Deal Location & Type
35
36
37
Firm name
Deal count
Audax Group
18
12

Plan
12
ABRY Partners
The Carlyle Group
Genstar Capital
Apax Partners
7
Source: PitchBook
35
ACQUIRERS OF PE-BACKED
COMPANIES BY DEAL
LOCATION & TYPE
Most active in U.S.
Firm name
Deal count
Firm name
Deal count
Firm name
Deal count
Audax Group
15
Fonds de solidarit FTQ

Plan
10
BC Partners
Corporation
ABRY Partners
Bpifrance
Genstar Capital
Naxicap Partners
Baring Private Equity Asia
Arka Capital Investissement

du Qubec
Desjardins Capital rgional et

coopratif
Bridgepoint
Cinven
GI Partners
InnVest Real Estate

Investment Trust
Investissement Quebec
Endless
KingSett Capital
EQT Partners
Telstra
The Abraaj Group
PAI Partners
The Carlyle Group
Vista Corp Holdings

Roper Technologies
7
6
Apax Partners
Platte River Equity
Thoma Bravo
5
Source: PitchBook
Most active in mergers/acquisitions

Firm name
Deal count
Roper Technologies
Impax Laboratories
VSE
International Aerospace
Coatings Holdings
Markit Group
New Media Investment
Nord Anglia Education
Precision Castparts
Technicolor
TerraForm Power
Valspar
Source: PitchBook
Source: PitchBook
36
Source: PitchBook
ACQUIRERS OF VC-BACKED
COMPANIES BY DEAL
LOCATION & TYPE
Most active global
Most active in U.S.
Firm name
Deal count
Firm name
Deal count
Firm name
Deal count
Microsoft
13
Alphabet
11
Apple
Alphabet
11
International Business
Machines
11
EQT Partners
Machines
11
Microsoft
10
Recruit Holdings
Amazon.com
Amazon.com
Satellite Solutions Worldwide

Group
Cisco Systems
Akamai Technologies
Medtronic
Cisco Systems
BlaBlaCar
Medtronic
Cirrus Logic
Apple
ABRY Partners
First Derivatives
Dropbox
Intel Corporation
Facebook
Intrexon
Ipsen
LiveIntent
MyOptique Group
SanomaVentures
SevenVentures
Sierra Wireless
Silicon Laboratories
Sodalis
Twitter
Source: PitchBook

Firm name
Deal count
58.com
BlueFocus Shanghai
Investment
Box
Twitter
Source: PitchBook
Most active in mergers/acquisitions

Firm name
Deal count
Microsoft
13
Alphabet
11
Didi Kuaidi
Machines
11
Freshdesk
Amazon.com
Intuit
Cisco Systems
Just Eat
Medtronic
Apple
Twitter
Dropbox
EMC
Facebook
Sprinklr
Synopsys
Microsoft
Ola
Opera Software
Snapdeal
Synopsys
2
Source: PitchBook
Strer Media
2
Source: PitchBook

Firm name
Deal count
ABRY Partners
Bain Capital
EQT Partners
Source: PitchBook
37
4
Source: PitchBook
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GARRET T JAMES BL ACK Senior Analyst

Advisors/Accountants & Investment

COPYRIGHT 2016 by PitchBook Data,

GARRET T JAMES BL ACK

M AKE WAY FOR

RR Donnelley is a leading integrated communication services

Mountain: Arizona, Colorado, Idaho, Montana, Nevada,

GSA: Germany, Switzerland, Austria, Liechtenstein

Southern Europe: Andorra, Cyprus, Gibraltar, Greece,

INDUSTRIES & SECTORS

For more information on our methodology, contact

Central & Eastern Europe (CEE): Albania, Belarus,

PRIVATE EQUITY FIRMS

2015s most active global PE investors

2015s Most Active PE Investors

PE Investors by Deal Location

PE Investors by Firm AUM

PE Investors by Deal Type

PE Investor Exits by Company HQ

The Carlyle Group

Kohlberg Kravis Roberts

The Blackstone Group

Hellman & Friedman

Business Growth Fund

The Riverside Company

Oaktree Capital Management

Apollo Global Management

GTCR Golder Rauner

Vista Equity Partners

Ontario Teachers' Pension

Ardian Private Equity

Most active in Great Lakes

Most active in Mid-Atlantic

Hellman & Friedman

The Riverside Company

The Carlyle Group

Apollo Global Management

Hellman & Friedman

Hellman & Friedman

Kohlberg Kravis Roberts

The Blackstone Group

The Carlyle Group

The Blackstone Group

The Carlyle Group

Kohlberg Kravis Roberts

Madison Dearborn Partners

GTCR Golder Rauner

The Riverside Company

Providence Equity Partners

Vista Equity Partners

Apollo Global Management

Most active in New England

Providence Equity Partners

The Gladstone Companies

The Riverside Company

Most active in West Coast

Most active in Southeast

Hellman & Friedman

The Blackstone Group

The Carlyle Group

Vista Equity Partners

GTCR Golder Rauner