California Received Most Private Equity Investment Dollars In 2020
California topped the list of U.S. states receiving the most private equity investment in 2020 with $87bn in capital invested, according to new data from trade group the American Investment Council. Texas ($60bn), Florida ($59bn), New York ($42bn), and Massachusetts ($37bn) rounded out the top five.
Colorado District 2, represented by Rep. Joe Neguse, received the most private equity investment of any congressional district at $16.87bn. The remainder of the top five districts were Rep. Stephen Lynch’s MA-8 ($16.83bn), Rep. Carolyn Maloney’s NY-12 ($15.19bn), Speaker Nancy Pelosi’s CA-12’s ($15.03bn) and Rep. Debbie Wasserman Schultz’s FL-23 ($12.15bn). NY-12, represented by Rep. Carolyn Maloney, also had the most companies receiving private equity capital (109 companies).
“Our annual Top States and Districts Report underscores how private equity is supporting businesses and jobs in every state across the country,” said Drew Maloney, American Investment Council President and CEO. “Last year, private equity provided hundreds of billions of dollars to struggling companies to save jobs and help businesses make it through the pandemic. The figures in this report are more than just data points – these are business owners and American workers who found a steady partner in private equity during uncertain times.”
Despite the economic turmoil in 2020, private equity in the United States had its most active year ever and eclipsed 5,000 deals last year, totalling more than $650bn in capital invested. As of 2020, the vast majority — 86 percent — of private equity investment stateside went to small businesses employing 500 workers or less. PE supported nearly 14,000 small businesses, and roughly a third of businesses receiving private equity backing employed just 10 workers or less.
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