Masters of the Universe, Ranked

Private Equity International released its annual ranking of the 50 top firms, according to capital raised over the last five years.

And those sums grew dramatically in the last 12 months. No. 1 Carlyle Group, for example, topped the 2007 list with $32.5 billion. This year, it had $52 billion — a 60 percent increase.

Just to make the list, a firm had to raise $5.88 billion over five years. In 2007, it took $3.88 billion.

Ten firms from the 2007 list are missing this year, led by CCMP Capital, which was 17th on the previous list. Of the 10 firms added this year, AIG Investments made the highest debut, at No. 19.

Here is the list, followed by each firm's rank last year in parentheses.

1. The Carlyle Group (1)
2. Goldman Sachs Principal Investment Area (3)
3. TPG (5)
4. Kohlberg Kravis Roberts (2)
5. CVC Capital Partners (10)
6. Apollo Management (12)
7. Bain Capital (8)
8. Permira (6)
9. Apax Partners (7)
10. The Blackstone Group (4)
11. Warburg Pincus (14)
12. 3i Group (13)
13. Advent International (43)
14. Terra Firma Capital Partners (15)
15. American Capital (23)
16. Providence Equity Partners (9)
17. Silver Lake Partners (19)
18. Cerberus Capital Management (34)
19. AIG Investments (n/a)
20. Fortress Investment Group (27)
21. General Atlantic (18)
22. PAI partners (35)
23. First Reserve Corporation (22)
24. EQT Partners (21)
25. Hellman & Friedman (16)
26. Cinven (11)
27. Bridgepoint (36)
28. Clayton, Dubilier & Rice (47)
29. Teachers' Private Capital (20)
30. Charterhouse Capital Partners (24)
31. Lehman Brothers Private Equity (25)
32. Thomas H. Lee Partners (30)
33. BC Partners (29)
34. AXA Private Equity (n/a)
35. NGP Energy Capital Management (n/a)
36. Oaktree Capital Management (49)
37. Marfin Investment Group (n/a)
38. Sun Capital Partners (28)
39. Doughty Hanson & Co. (37)
40. JC Flowers & Co. (n/a)
41. TA Associates (39)
42. Eurazeo (n/a)
43. New Mountain Capital (n/a)
44. MatlinPatterson (n/a)
45. WL Ross & Co. (n/a)
46. EnCap Investments (n/a)
47. Madison Dearborn Partners (32)
48. Barclays Private Equity (n/a)
49. Onex (33)
50. Welsh, Carson, Anderson & Stowe (42)

by Mark Stein