Updated September 2026

A register of the largest private-capital managers, ranked on what they report to their regulator — not on who returned our calls.

Free to use

Where US private capital is actually raised

New York files less than a third of California’s volume and raises nearly as much — its average offering is three times larger. 138,532 Reg D offerings, mapped by the issuer’s home state.

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Offerings filed
138,532
Capital sought
$1.14T
Most active
California
Largest average
New York

How this register is built

The number

Regulatory assets under management as disclosed on Form ADV, filed with the SEC. Each filing is public and checkable.

The classification

Firms are placed by the strategy they are principally known for. A manager filing several entities appears once per register, at its largest.

What is excluded

Banks, brokerages, index managers and wealth advisers. Their “assets” are a different measure — deposits, custody, mutual-fund holdings.

What this is not

Regulatory AUM is reported at the adviser entity and is not the same thing as fund size or performance. Nothing here ranks firms by how well they invest.

Links

Every website is resolved to the firm’s own corporate domain and checked before publication. Where we cannot confirm one, we print no link.

Corrections

Firms may claim and correct their own entry. 1,031 managers currently meet the criteria across the seven registers.

The registers

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