Wednesday, May 16, 2012

North Carolina gets fourth-most private equity investment

North Carolina companies received more than $10 billion in private equity investment last year, ranking the state fourth in deal value, according to new data from the Private Equity Growth Capital Council.

A total of fifty-six companies in the state received investments over the course of the year, though not all of them disclosed the value of the deal. Based on reported figures, North Carolina ranked behind only Texas, New York and California.

Twelve of the deals were in North Carolina's 12th congressional district, which includes much of Charlotte.

Nationwide, private equity companies invested more than $144 billion last year.

In releasing the data, council president Steve Judge gave a nod to the increased scrutiny private equity has received as Mitt Romney campaigns for the presidency. Romney co-founded Bain Capital, which helped companies like Sports Authority and Staples grow but also contributed to factory and business closings.

"Over the next several months, we expect the general election to amplify the conversation about private equity," Judge said in a statement, "but one thing is clear, private equity drives economic activity and growth across the U.S. economy."
This was the private equity council's second yearly report breaking down deals by location. Data was provided by Thomson Reuters and Pitchbook, a private equity deals database.