Private Equity Powerhouses by Capital Raised (2020–2024)

Armada is ramping up its recent fundraising, deal flow, and advisory work, placing it firmly alongside the world's most prominent private equity firms. Below are presented maps of the top performers by capital raised and shown exactly where Armada fits in.

Top 50 Private Equity Firms (2020–2024) by Capital Raised

United States

• KKR – $119.5 billion

• Blackstone – $114.3 billion

• Goldman Sachs Asset Management – $84.9 billion

• CVC Capital Partners – $84.3 billion

• Thoma Bravo – $73.5 billion

• Hellman & Friedman – $50.2 billion

• Silver Lake – $47.1 billion

• Clearlake Capital Group – $45.2 billion

• Bain Capital – $40.5 billion

• Clayton, Dubilier & Rice – $38.7 billion

• Advent International – $38.2 billion

• General Atlantic – $36.8 billion

• Warburg Pincus – $33.5 billion

• Apollo Global Management – $31.9 billion

• TA Associates – $30.5 billion

• Neuberger Berman – $30.2 billion

• The Jordan Company – $26.3 billion

• Francisco Partners – $25.8 billion

• Platinum Equity – $25.5 billion

• New Mountain Capital – $25.5 billion

• Genstar Capital – $25.2 billion

• Stone Point Capital – $25.1 billion

• Insight Partners – $24.2 billion

• GTCR – $23.4 billion

• BDT & MSD Partners – $23.3 billion

• TPG – $22.9 billion

• Summit Partners – $22.2 billion

• EQT Exeter – $19.3 billion

• PSG – $18.8 billion

• HarbourVest Partners – $17.4 billion

• Vista Equity Partners – $16.9 billion

• Centerbridge Partners – $21.1 billion

United Kingdom

• Hg – $17.2 billion

• Bridgepoint – $17.2 billion

• Apax Partners – $17.0 billion

• Permira Advisers – $16.9 billion

• Cinven – (amount not specified)

France

• Ardian – $54.2 billion

• Eurazeo – $25.3 billion

Canada

• Brookfield Asset Management – $35.6 billion

• Onex – $14.2 billion

Sweden

• EQT – $49.3 billion

Switzerland

• Partners Group – $25.5 billion

Luxembourg

• Capvis Capital Partners – $24.7 billion

China

• Hillhouse Capital Group – $36.9 billion

• China Merchants Capital – $29.4 billion

Hong Kong

• Asia Alternatives – $22.1 billion

Armada’s Capital Moves & Strategic Reach

1. Armada Credit Partners

• Closed Fund V at €210 million, targeting debt and equity investments in Northern Europe.

• Across all funds, raised €650 million+.

• Typical investment tickets range from €3 million to €30 million.

2. Armada Investment AG

• Notable exit: Tradex’s $5.6 billion sale to Ariba.

• Smaller growth investments include:

  • Flytrex – $3 million

  • Xpension – €25 million (Series C)

3. Armada Advisory & Capital Services

• Facilitated capital raises across Southeast Asia, spanning seed rounds to $44 million deals in energy, manufacturing, export, and technology.

  • $44 million – geothermal energy project

  • $20 million – across multiple subsidiaries

  • $10 million – export expansion

  • $5 million – investor tools

  • $3 million – new investor funds

  • $1 million – seed funding for pharma infrastructure

Armada’s continued expansion underscores its evolution from a connector to a strategic capital partner, placing it in the same league as global private equity leaders while maintaining a strong foothold in Southeast Asia. As the market shifts, Armada’s diversified arms position it to capture growth across multiple sectors.

This article was prepared by Cecilia Miranda, highlighting insights into the firm’s capital strategies and market reach. Future editions will take a closer look at specific transactions and partnerships shaping Armada’s trajectory.