New York remained a good place for private-equity investments last year, with some $15.5 billion pouring into the state, an increase over 2011, according to a new report.
The Private Equity Growth Capital Council report said that New Jersey also attracted a larger share of private equity money in 2012, with just under $14.8 billion. That placed both the Empire State and the Garden State in the nation’s top 10 for private-equity infusions.
The report found that private equity invested in some 2,000 US-based companies nationwide.
Texas led the nation in private-equity investment, the report said.
“Private equity invested more than $347 billion in US-based companies last year,” according to Steve Judge, president and chief executive of the Private Equity Growth Capital Council. “This is long-term capital working to strengthen companies located in all 50 states,” he said.
The best places for private equity capital in the New York City metropolitan area last year were Westchester County and Long Island.
Westchester ranks sixth in the nation for private-equity investment value, with some $5.1 billion invested in seven companies.
Long Island had 41 private-equity investments, worth $3.9 billion in 2012, the 12th-largest total of any district in the country.
New York State Comptroller Thomas DiNapoli has emphasized using private-equity investments as part of his program to obtain improved returns for the state pension fund.
“The program has proven to be an important contributor to the state’s economy by making capital available to small businesses,” DiNapoli wrote.
The private equity portion of the state retirement fund returned 11.75 percent in fiscal year 2013, 1.37 percent above the fund’s average, DiNapoli noted.