Private Equity Firms in San Francisco
62 firms on our list run private equity funds from a main office in the city of San Francisco. Hellman & Friedman reports the most: $110.4BN in private fund gross assets on Form ADV, filed in .
57 of the 62 are private equity firms by their funds and 5 run private equity funds among other kinds; 36 of the private equity firms report $1BN or more, and the median one reports $2.1BN.
Updated . Rechecked quarterly; next check .
$10MM$100MM$1BN$10BN$100BN$1000BN
San Francisco firms, a square for each, by private fund gross assets on a log scale; the leader is labelled.
Form ADV, Schedule D, from the SEC adviser files dated .
The largest private equity firms in San Francisco by private fund assets
Among the 57 firms whose private funds are mostly private equity, Hellman & Friedman, Vista Equity Partners and Genstar Capital report $267.3BN between them, 52% of the group's $518.4BN; 36 report $1BN or more.
The 5 advisers that run private equity funds among mostly other kinds are in the full list, not ranked: BBQ Opportunity Ventures, Carrick Capital Partners, Galvanize Climate Solutions, Goat Capital Management and Horsley Bridge Partners.
Bars share one scale; a bar too short to see is drawn at a small fixed length. ADV opens the SEC record; a name opens its row below.
Source: SEC Form ADV, Schedule D, filings January to September 2026.
Wider lists: Largest private equity firms
All 62 private equity firms based in San Francisco
Filter
Kind
A to Z, the main office city under each name; Private funds gives the total and how many are PE funds.
| Firm | Fund gross assets | Private funds | Filings | More |
|---|---|---|---|---|
| 137 Ventures ManagementSan Francisco | $13.1BN | 42 (35 PE) | ADV, filed 2026-04-15 | More on 137 Ventures ManagementFiles Form ADV as 137 Ventures Management LLC. Its private funds report $13.1BN in gross assets on Form ADV (). Of its 42 private funds, 35 are private equity funds; the others: 7 venture capital. Regulatory assets on the same filing: $11.8BN (Item 5.F), not ranked. |
| AGA MancoSan Francisco | $149MM | 2, all PE | ADV, filed 2026-07-31 | More on AGA MancoFiles Form ADV as AGA Manco LP. Its private funds report $149MM in gross assets on Form ADV (). All 2 of its private funds are private equity funds. Placed by the city of its main office on its SEC record, since its Form ADV withholds the address as a residence. An exempt reporting adviser: it files Form ADV and reports its private funds, but is exempt from SEC registration, so it reports no regulatory assets. |
| Aldaron ManagementSan Francisco | $27MM | 2, all PE | ADV, filed 2026-02-27 | More on Aldaron ManagementFiles Form ADV as Aldaron Management LLC. Its private funds report $27MM in gross assets on Form ADV (). All 2 of its private funds are private equity funds. An exempt reporting adviser: it files Form ADV and reports its private funds, but is exempt from SEC registration, so it reports no regulatory assets. |
| Alpine InvestorsSan Francisco | $18.9BN | 16, all PE | ADV, filed 2026-03-31 | More on Alpine InvestorsFiles Form ADV as Alpine Management Services III, LLC. Its private funds report $18.9BN in gross assets on Form ADV (). All 16 of its private funds are private equity funds. Regulatory assets on the same filing: $18.9BN (Item 5.F), not ranked. |
| Alta Park CapitalSan Francisco | $1.8BN | 6 (5 PE) | ADV, filed 2026-04-09 | More on Alta Park CapitalFiles Form ADV as Alta Park Capital, LP. Its private funds report $1.8BN in gross assets on Form ADV (). Of its 6 private funds, 5 are private equity funds; the others: 1 hedge. Regulatory assets on the same filing: $1.8BN (Item 5.F), not ranked. |
| Aphias CapitalSan Francisco | $676MM | 2, all PE | ADV, filed 2026-07-27 | More on Aphias CapitalFiles Form ADV as Aphias Capital, L.P. Its private funds report $676MM in gross assets on Form ADV (). All 2 of its private funds are private equity funds. Regulatory assets on the same filing: $676MM (Item 5.F), not ranked. |
| Asia Alternatives ManagementSan Francisco | $9.9BN | 131, all PE | ADV, filed 2026-07-29 | More on Asia Alternatives ManagementFiles Form ADV as Asia Alternatives Management LLC. Its private funds report $9.9BN in gross assets on Form ADV (). All 131 of its private funds are private equity funds. Regulatory assets on the same filing: $13.2BN (Item 5.F), not ranked. |
| Banneker PartnersSan Francisco | $3.4BN | 10, all PE | ADV, filed 2026-03-30 | More on Banneker PartnersFiles Form ADV as Banneker Partners LLC. Its private funds report $3.4BN in gross assets on Form ADV (). All 10 of its private funds are private equity funds. Regulatory assets on the same filing: $3.4BN (Item 5.F), not ranked. |
| Bay Hills Capital ManagementSan Francisco | $1.1BN | 14, all PE | ADV, filed 2026-03-31 | More on Bay Hills Capital ManagementFiles Form ADV as Bay Hills Capital Management, LLC. Its private funds report $1.1BN in gross assets on Form ADV (). All 14 of its private funds are private equity funds. Regulatory assets on the same filing: $570MM (Item 5.F), not ranked. |
| BBQ Opportunity VenturesMixed; San Francisco | $104MM | 33 (14 PE) | ADV, filed 2026-03-31 | More on BBQ Opportunity VenturesFiles Form ADV as BBQ Opportunity Ventures LLC. Its private funds report $104MM in gross assets on Form ADV (). Of its 33 private funds, 14 are private equity funds; the others: 19 venture capital. An exempt reporting adviser: it files Form ADV and reports its private funds, but is exempt from SEC registration, so it reports no regulatory assets. |
| Blueline CapitalSan Francisco | $240MM | 3, all PE | ADV, filed 2026-06-26 | More on Blueline CapitalFiles Form ADV as Blueline Capital Management, LLC. Its private funds report $240MM in gross assets on Form ADV (). All 3 of its private funds are private equity funds. Regulatory assets on the same filing: $240MM (Item 5.F), not ranked. |
| C&S Capital PartnersSan Francisco | $94MM | 11 (7 PE) | ADV, filed 2026-01-29 | More on C&S Capital PartnersOn its own site: “We seek to construct a concentrated portfolio of private equity investments where C&S can be involved and impactful, through our experience, relationships and resources.” (read ). Files Form ADV as C&S Capital Partners, LLC. Its private funds report $94MM in gross assets on Form ADV (). Of its 11 private funds, 7 are private equity funds; the others: 4 real estate. Placed by the city of its main office on its SEC record, since its Form ADV withholds the address as a residence. An exempt reporting adviser: it files Form ADV and reports its private funds, but is exempt from SEC registration, so it reports no regulatory assets. |
| Calera Capital AdvisorsSan Francisco | $3.1BN | 15, all PE | ADV, filed 2026-03-31 | More on Calera Capital AdvisorsFiles Form ADV as Calera Capital Advisors, LP. Its private funds report $3.1BN in gross assets on Form ADV (). All 15 of its private funds are private equity funds. Regulatory assets on the same filing: $3.1BN (Item 5.F), not ranked. |
| Carrick Capital PartnersMixed; San Francisco | $2.0BN | 31 (10 PE) | ADV, filed 2026-03-30 | More on Carrick Capital PartnersFiles Form ADV as Carrick Capital Management Company, LLC. Its private funds report $2.0BN in gross assets on Form ADV (). Of its 31 private funds, 10 are private equity funds; the others: 21 venture capital. Regulatory assets on the same filing: $2.1BN (Item 5.F), not ranked. |
| Cogenuity PartnersSan Francisco | $694MM | 4, all PE | ADV, filed 2026-04-28 | More on Cogenuity PartnersFiles Form ADV as Cogenuity Partners, LLC. Its private funds report $694MM in gross assets on Form ADV (). All 4 of its private funds are private equity funds. Regulatory assets on the same filing: $694MM (Item 5.F), not ranked. |
| Dahlia Equity PartnersSan Francisco | $147MM | 2, all PE | ADV, filed 2026-07-10 | More on Dahlia Equity PartnersFiles Form ADV as Dahlia Equity Partners, L.P. Its private funds report $147MM in gross assets on Form ADV (). All 2 of its private funds are private equity funds. Placed by the city of its main office on its SEC record, since its Form ADV withholds the address as a residence. An exempt reporting adviser: it files Form ADV and reports its private funds, but is exempt from SEC registration, so it reports no regulatory assets. |
| Empros CapitalSan Francisco | $2.3BN | 21, all PE | ADV, filed 2026-07-14 | More on Empros CapitalFiles Form ADV as Empros Capital LLC. Its private funds report $2.3BN in gross assets on Form ADV (). All 21 of its private funds are private equity funds. Regulatory assets on the same filing: $2.3BN (Item 5.F), not ranked. |
| Encore Consumer CapitalSan Francisco | $677MM | 5, all PE | ADV, filed 2026-03-20 | More on Encore Consumer CapitalFiles Form ADV as Encore Consumer Capital, LP. Its private funds report $677MM in gross assets on Form ADV (). All 5 of its private funds are private equity funds. Regulatory assets on the same filing: $786MM (Item 5.F), not ranked. |
| EquiamSan Francisco | $103MM | 9, all PE | ADV, filed 2026-06-08 | More on EquiamFiles Form ADV as Equiam LLC. Its private funds report $103MM in gross assets on Form ADV (). All 9 of its private funds are private equity funds. An exempt reporting adviser: it files Form ADV and reports its private funds, but is exempt from SEC registration, so it reports no regulatory assets. |
| Era PartnersSan Francisco | $1.2BN | 13, all PE | ADV, filed 2026-03-31 | More on Era PartnersFiles Form ADV as Era Partners LLC. Its private funds report $1.2BN in gross assets on Form ADV (). All 13 of its private funds are private equity funds. Regulatory assets on the same filing: $1.6BN (Item 5.F), not ranked. |
| Fathom Point CapitalSan Francisco | $68MM | 2, all PE | ADV, filed 2026-05-01 | More on Fathom Point CapitalFiles Form ADV as Fathom Point Capital LLC. Its private funds report $68MM in gross assets on Form ADV (). All 2 of its private funds are private equity funds. Regulatory assets on the same filing: $280MM (Item 5.F), not ranked. |
| FFLSan Francisco | $4.1BN | 30, all PE | ADV, filed 2026-03-29 | More on FFLFiles Form ADV as FFL Partners, LLC. Its private funds report $4.1BN in gross assets on Form ADV (). All 30 of its private funds are private equity funds. Regulatory assets on the same filing: $4.1BN (Item 5.F), not ranked. |
| Forge Global AdvisorsSan Francisco | $2.4BN | 122, all PE | ADV, filed 2026-04-06 | More on Forge Global AdvisorsFiles Form ADV as Forge Global Advisors LLC. Its private funds report $2.4BN in gross assets on Form ADV (). All 122 of its private funds are private equity funds. Regulatory assets on the same filing: $2.5BN (Item 5.F), not ranked. |
| Francisco PartnersSan Francisco | $47.1BN | 43, all PE | ADV, filed 2026-03-31 | More on Francisco PartnersOn its own site: “Through our private equity and credit funds, we provide flexible capital and partnership to growth-aspiring technology companies.” (read ). Files Form ADV as Francisco Partners Management, L.P. Its private funds report $47.1BN in gross assets on Form ADV (). All 43 of its private funds are private equity funds. Regulatory assets on the same filing: $47.1BN (Item 5.F), not ranked. |
| Galvanize Climate SolutionsMixed; San Francisco | $6.7BN | 16 (6 PE) | ADV, filed 2026-07-14 | More on Galvanize Climate SolutionsFiles Form ADV as Galvanize Climate Solutions LLC. Its private funds report $6.7BN in gross assets on Form ADV (). Of its 16 private funds, 6 are private equity funds; the others: 3 venture capital, 1 hedge, 3 real estate and 3 of other kinds. Regulatory assets on the same filing: $7.0BN (Item 5.F), not ranked. |
| Generate Capital Advisors, PBSan Francisco | $737MM | 4, all PE | ADV, filed 2026-09-09 | More on Generate Capital Advisors, PBFiles Form ADV as Generate Capital Advisors, PB LLC. Its private funds report $737MM in gross assets on Form ADV (). All 4 of its private funds are private equity funds. Regulatory assets on the same filing: $737MM (Item 5.F), not ranked. |
| Genstar CapitalSan Francisco | $51.3BN | 30, all PE | ADV, filed 2026-04-21 | More on Genstar CapitalFiles Form ADV as Genstar Capital Management LLC. Its private funds report $51.3BN in gross assets on Form ADV (). All 30 of its private funds are private equity funds. Regulatory assets on the same filing: $51.3BN (Item 5.F), not ranked. |
| Goat Capital ManagementMixed; San Francisco | $144MM | 9 (3 PE) | ADV, filed 2026-03-11 | More on Goat Capital ManagementFiles Form ADV as Goat Capital Management, LLC. Its private funds report $144MM in gross assets on Form ADV (). Of its 9 private funds, 3 are private equity funds; the others: 6 venture capital. An exempt reporting adviser: it files Form ADV and reports its private funds, but is exempt from SEC registration, so it reports no regulatory assets. |
| Golden Gate CapitalSan Francisco | $9.8BN | 9 (7 PE) | ADV, filed 2026-04-28 | More on Golden Gate CapitalFiles Form ADV as Golden Gate Private Equity Inc. Its private funds report $9.8BN in gross assets on Form ADV (). Of its 9 private funds, 7 are private equity funds; the others: 2 hedge. Regulatory assets on the same filing: $11.2BN (Item 5.F), not ranked. |
| Grail PartnersSan Francisco | $30MM | 1, PE | ADV, filed 2026-03-31 | More on Grail PartnersFiles Form ADV as Grail Partners LLC. Its private funds report $30MM in gross assets on Form ADV (). Its one private fund is a private equity fund. An exempt reporting adviser: it files Form ADV and reports its private funds, but is exempt from SEC registration, so it reports no regulatory assets. |
| Gryphon AdvisorsSan Francisco | $8.0BN | 24 (18 PE) | ADV, filed 2026-07-28 | More on Gryphon AdvisorsFiles Form ADV as Gryphon Advisors, LLC. Its private funds report $8.0BN in gross assets on Form ADV (). Of its 24 private funds, 18 are private equity funds; the others: 6 of other kinds. Regulatory assets on the same filing: $9.3BN (Item 5.F), not ranked. |
| H. Barton Asset ManagementSan Francisco | $1.5BN | 15 (8 PE) | ADV, filed 2026-03-31 | More on H. Barton Asset ManagementFiles Form ADV as H. Barton Asset Management, LLC. Its private funds report $1.5BN in gross assets on Form ADV (). Of its 15 private funds, 8 are private equity funds; the others: 7 of other kinds. Regulatory assets on the same filing: $1.5BN (Item 5.F), not ranked. |
| Hellman & FriedmanSan Francisco | $110.4BN | 45, all PE | ADV, filed 2026-03-25 | More on Hellman & FriedmanFiles Form ADV as Hellman & Friedman LLC. Its private funds report $110.4BN in gross assets on Form ADV (). All 45 of its private funds are private equity funds. Regulatory assets on the same filing: $110.4BN (Item 5.F), not ranked. |
| Horsley Bridge PartnersMixed; San Francisco | $25.4BN | 45 (17 PE) | ADV, filed 2026-06-17 | More on Horsley Bridge PartnersFiles Form ADV as Horsley Bridge Partners LLC. Its private funds report $25.4BN in gross assets on Form ADV (). Of its 45 private funds, 17 are private equity funds; the others: 28 venture capital. Regulatory assets on the same filing: $23.6BN (Item 5.F), not ranked. |
| Housatonic PartnersSan Francisco | $1.7BN | 13, all PE | ADV, filed 2026-03-23 | More on Housatonic PartnersFiles Form ADV as Housatonic Management Company, Inc. Its private funds report $1.7BN in gross assets on Form ADV (). All 13 of its private funds are private equity funds. Regulatory assets on the same filing: $1.7BN (Item 5.F), not ranked. |
| IGP IndustriesSan Francisco | $1.9BN | 4, all PE | ADV, filed 2026-03-26 | More on IGP IndustriesFiles Form ADV as IGP Industries, LLC. Its private funds report $1.9BN in gross assets on Form ADV (). All 4 of its private funds are private equity funds. Regulatory assets on the same filing: $1.9BN (Item 5.F), not ranked. |
| Industry VenturesSan Francisco | $9.1BN | 39 (24 PE) | ADV, filed 2026-09-25 | More on Industry VenturesFiles Form ADV as Xiginvent, L.L.C. Its private funds report $9.1BN in gross assets on Form ADV (). Of its 39 private funds, 24 are private equity funds; the others: 15 of other kinds. Regulatory assets on the same filing: $9.1BN (Item 5.F), not ranked. |
| Knox LaneSan Francisco | $2.8BN | 22, all PE | ADV, filed 2026-06-09 | More on Knox LaneOn its own site: “See Culture & Values People Matter Most Founded from the belief that people make companies successful, we came together to build a different kind of private equity firm.” (read ). Files Form ADV as Knox Lane LP. Its private funds report $2.8BN in gross assets on Form ADV (). All 22 of its private funds are private equity funds. Regulatory assets on the same filing: $3.4BN (Item 5.F), not ranked. |
| L2 Point ManagementSan Francisco | $628MM | 6, all PE | ADV, filed 2026-05-01 | More on L2 Point ManagementFiles Form ADV as L2 Point Management LLC. Its private funds report $628MM in gross assets on Form ADV (). All 6 of its private funds are private equity funds. Regulatory assets on the same filing: $622MM (Item 5.F), not ranked. |
| Luminate Capital PartnersSan Francisco | $3.2BN | 12, all PE | ADV, filed 2026-03-31 | More on Luminate Capital PartnersOn its own site: “Our mission is to be a private equity firm that provides tactical, company-specific execution as your side-by-side partner.” (read ). Files Form ADV as Luminate Capital Management, Inc. Its private funds report $3.2BN in gross assets on Form ADV (). All 12 of its private funds are private equity funds. Regulatory assets on the same filing: $3.8BN (Item 5.F), not ranked. |
| Main Post PartnersSan Francisco | $2.8BN | 7, all PE | ADV, filed 2026-06-12 | More on Main Post PartnersFiles Form ADV as Main Post Partners, L.P. Its private funds report $2.8BN in gross assets on Form ADV (). All 7 of its private funds are private equity funds. Regulatory assets on the same filing: $3.5BN (Item 5.F), not ranked. |
| Nexa EquitySan Francisco | $1.1BN | 10, all PE | ADV, filed 2026-03-31 | More on Nexa EquityFiles Form ADV as Nexa Equity LLC. Its private funds report $1.1BN in gross assets on Form ADV (). All 10 of its private funds are private equity funds. Regulatory assets on the same filing: $1.1BN (Item 5.F), not ranked. |
| Next Horizon CapitalSan Francisco | $745MM | 4, all PE | ADV, filed 2026-07-29 | More on Next Horizon CapitalFiles Form ADV as Next Horizon Capital, LP. Its private funds report $745MM in gross assets on Form ADV (). All 4 of its private funds are private equity funds. Regulatory assets on the same filing: $506MM (Item 5.F), not ranked. |
| PantheonSan Francisco | $44.7BN | 115 (70 PE) | ADV, filed 2026-07-14 | More on PantheonFiles Form ADV as Pantheon Ventures (US) LP. Its private funds report $44.7BN in gross assets on Form ADV (). Of its 115 private funds, 70 are private equity funds; the others: 1 securitized asset, 3 real estate and 41 of other kinds. Regulatory assets on the same filing: $87.7BN (Item 5.F), not ranked. |
| Parthenon Capital PartnersSan Francisco | $13.4BN | 14, all PE | ADV, filed 2026-03-30 | More on Parthenon Capital PartnersFiles Form ADV as PCP Managers, L.P. Its private funds report $13.4BN in gross assets on Form ADV (). All 14 of its private funds are private equity funds. Regulatory assets on the same filing: $13.4BN (Item 5.F), not ranked. |
| Paul CapitalSan Francisco | $521MM | 5, all PE | ADV, filed 2026-03-20 | More on Paul CapitalFiles Form ADV as 3000 Management, Inc. Its private funds report $521MM in gross assets on Form ADV (). All 5 of its private funds are private equity funds. Regulatory assets on the same filing: $521MM (Item 5.F), not ranked. |
| Percheron CapitalSan Francisco | $3.4BN | 14, all PE | ADV, filed 2026-09-15 | More on Percheron CapitalFiles Form ADV as Percheron Investment Management LP. Its private funds report $3.4BN in gross assets on Form ADV (). All 14 of its private funds are private equity funds. Regulatory assets on the same filing: $5.1BN (Item 5.F), not ranked. |
| Ponte PartnersSan Francisco | $84MM | 4 (2 PE) | ADV, filed 2026-03-31 | More on Ponte PartnersFiles Form ADV as Ponte Partners, LLC. Its private funds report $84MM in gross assets on Form ADV (). Of its 4 private funds, 2 are private equity funds; the others: 2 venture capital. An exempt reporting adviser: it files Form ADV and reports its private funds, but is exempt from SEC registration, so it reports no regulatory assets. |
| Saxecap ManagementSan Francisco | $36MM | 1, PE | ADV, filed 2026-03-31 | More on Saxecap ManagementFiles Form ADV as Saxecap Management, LLC. Its private funds report $36MM in gross assets on Form ADV (). Its one private fund is a private equity fund. Placed by the city of its main office on its SEC record, since its Form ADV withholds the address as a residence. An exempt reporting adviser: it files Form ADV and reports its private funds, but is exempt from SEC registration, so it reports no regulatory assets. |
| Serent Capital Management CompanySan Francisco | $3.9BN | 13, all PE | ADV, filed 2026-03-31 | More on Serent Capital Management CompanyFiles Form ADV as Serent Capital Management Company, L.L.C. Its private funds report $3.9BN in gross assets on Form ADV (). All 13 of its private funds are private equity funds. Regulatory assets on the same filing: $5.1BN (Item 5.F), not ranked. |
| SF Equity Partners ManagementSan Francisco | $570MM | 7, all PE | ADV, filed 2026-03-30 | More on SF Equity Partners ManagementFiles Form ADV as SF Equity Partners Management, LLC. Its private funds report $570MM in gross assets on Form ADV (). All 7 of its private funds are private equity funds. Regulatory assets on the same filing: $556MM (Item 5.F), not ranked. |
| Strattam Capital ManagementSan Francisco | $800MM | 17, all PE | ADV, filed 2026-03-25 | More on Strattam Capital ManagementFiles Form ADV as Strattam Capital Management, LLC. Its private funds report $800MM in gross assets on Form ADV (). All 17 of its private funds are private equity funds. Regulatory assets on the same filing: $939MM (Item 5.F), not ranked. |
| Trimer Capital ManagementSan Francisco | $352MM | 3, all PE | ADV, filed 2026-06-05 | More on Trimer Capital ManagementFiles Form ADV as Trimer Capital Management LP. Its private funds report $352MM in gross assets on Form ADV (). All 3 of its private funds are private equity funds. Regulatory assets on the same filing: $901MM (Item 5.F), not ranked. |
| Trinity Alps CapitalSan Francisco | $652MM | 9 (7 PE) | ADV, filed 2026-03-31 | More on Trinity Alps CapitalFiles Form ADV as Trinity Alps Capital Partners, LP. Its private funds report $652MM in gross assets on Form ADV (). Of its 9 private funds, 7 are private equity funds; the others: 1 venture capital and 1 of other kinds. Regulatory assets on the same filing: $1.1BN (Item 5.F), not ranked. |
| True Wind Capital ManagementSan Francisco | $2.1BN | 12, all PE | ADV, filed 2026-03-30 | More on True Wind Capital ManagementOn its own site: “DCM Services - True Wind True Wind DEAL STRUCTURE Buyout Status Active INDUSTRY Financial Services In March 2025, True Wind acquired DCM Services, the industry leader in estate and specialty account resolution services.” (read ). Files Form ADV as True Wind Capital Management, L.P. Its private funds report $2.1BN in gross assets on Form ADV (). All 12 of its private funds are private equity funds. Regulatory assets on the same filing: $2.1BN (Item 5.F), not ranked. |
| Turn/River ManagementSan Francisco | $6.6BN | 20, all PE | ADV, filed 2026-03-30 | More on Turn/River ManagementFiles Form ADV as Turn/river Management, L.P. Its private funds report $6.6BN in gross assets on Form ADV (). All 20 of its private funds are private equity funds. Regulatory assets on the same filing: $6.6BN (Item 5.F), not ranked. |
| Valeas Capital PartnersSan Francisco | $2.4BN | 13, all PE | ADV, filed 2026-04-01 | More on Valeas Capital PartnersFiles Form ADV as Valeas Capital Partners Management LP. Its private funds report $2.4BN in gross assets on Form ADV (). All 13 of its private funds are private equity funds. Regulatory assets on the same filing: $2.4BN (Item 5.F), not ranked. |
| Valiant Capital ManagementSan Francisco | $3.4BN | 9 (6 PE) | ADV, filed 2026-05-15 | More on Valiant Capital ManagementFiles Form ADV as Valiant Capital Management, L.P. Its private funds report $3.4BN in gross assets on Form ADV (). Of its 9 private funds, 6 are private equity funds; the others: 3 hedge. Regulatory assets on the same filing: $3.8BN (Item 5.F), not ranked. |
| Vector Capital ManagementSan Francisco | $3.8BN | 9 (8 PE) | ADV, filed 2026-06-24 | More on Vector Capital ManagementFiles Form ADV as Vector Capital Management, L.P. Its private funds report $3.8BN in gross assets on Form ADV (). Of its 9 private funds, 8 are private equity funds; the others: 1 hedge. Regulatory assets on the same filing: $3.8BN (Item 5.F), not ranked. |
| Vista Equity PartnersSan Francisco | $105.7BN | 125 (123 PE) | ADV, filed 2026-09-04 | More on Vista Equity PartnersFiles Form ADV as Vista Equity Partners Management, LLC. Its private funds report $105.7BN in gross assets on Form ADV (). Of its 125 private funds, 123 are private equity funds; the others: 2 hedge. Regulatory assets on the same filing: $106.0BN (Item 5.F), not ranked. |
| VMG Partners IISan Francisco | $3.2BN | 28, all PE | ADV, filed 2026-07-21 | More on VMG Partners IIFiles Form ADV as VMG Partners II, LLC. Its private funds report $3.2BN in gross assets on Form ADV (). All 28 of its private funds are private equity funds. Regulatory assets on the same filing: $3.2BN (Item 5.F), not ranked. |
| Westcap ManagementSan Francisco | $6.0BN | 43, all PE | ADV, filed 2026-03-31 | More on Westcap ManagementFiles Form ADV as Westcap Management, LLC. Its private funds report $6.0BN in gross assets on Form ADV (). All 43 of its private funds are private equity funds. Regulatory assets on the same filing: $7.4BN (Item 5.F), not ranked. |
The largest exempt reporting advisers are AGA Manco, Dahlia Equity Partners and Equiam; the largest registered ones, Hellman & Friedman, Vista Equity Partners and Genstar Capital.
Mixed: fewer than half its private funds are private equity funds.
Source: SEC Form ADV, filings January to September 2026; each firm's own website, read .
Nearby lists: VC Firms in San Francisco (9), Venture Capital Firms in Silicon Valley (316), Family Offices in San Francisco (37), PE Firms in Los Angeles (7)
New this edition
This is the first edition of this list in this form; the next edition will list what changed.
Sources and scope
- Who is listed
- Main office on Form ADV in the City and County of San Francisco (Silicon Valley is its own list), with at least one private equity fund reported on Schedule D of the filing. Left out: 42 whose own sites or SEC filings describe another business (hedge fund and public markets managers 5, credit, lending and royalty managers 5, multi-family and outsourced investment offices 5, wealth and financial advice firms 2, real estate and real assets managers 2 and other businesses 23) and 11 exempt advisers with no website on file. 4 placed by the office city on their SEC record, the main office being withheld as a residence; 10 on the filing alone, their sites missing, unreachable or too thin to judge.
- Kind
- Private equity where half or more of its private funds are private equity funds: 57. Mixed, listed but not ranked: 5.
- Order
- Ranked by private fund gross assets, largest first; then A to Z.
- Figures
- Private fund gross assets: Form ADV, Schedule D, Section 7.B.(1), summed over all of a firm's private funds, gross of borrowing, with the month filed. Regulatory assets (Item 5.F) sit in row details. 10 of the 62 are exempt reporting advisers, with no regulatory assets to report.
- Sources
- SEC Form ADV adviser data; each firm's own website; the HUD USPS ZIP to county crosswalk for the county.
Sources and dates
| Figure | Where it comes from | As of |
|---|---|---|
| Private fund gross assets, private funds by type, regulatory assets, main office and latest filing date of the 62 firms | SEC Form ADV monthly files for registered and exempt reporting advisers (Total Gross Assets of Private Funds, and the fund counts by type, from Schedule D, Section 7.B.(1)) | Filings of 2026-01-29 to 2026-09-25; files of 2026-10-01, read 2026-10-28 |
| Each firm's website | Form ADV Item 1.I, from the SEC adviser feed | Feed of 2026-10-21; read 2026-10-28 |
| Private equity description of each listed firm, quoted in its row where its site states it, and the 42 advisers left out | Each firm's own website (its home page and up to two about, strategy or contact pages) | 2026-10-28 |
| The 1 of those left out on the review of our largest private equity firms ranking (infrastructure, credit, crossover and other businesses) | The source that review cites for each: the firm's own words or its Form ADV | 2026-10-28 |
| City of the main office of the 4 firms whose Form ADV withholds it | SEC Investment Adviser Public Disclosure record of each firm | 2026-10-28 |
| County of each main office (San Francisco County) | HUD USPS ZIP to county crosswalk, 2026 Q2 | 2026-10-28 |
| Counts on the nearby lists: VC Firms in San Francisco (9), Venture Capital Firms in Silicon Valley (316), Family Offices in San Francisco (37), PE Firms in Los Angeles (7) | Each list as published (San Francisco checked April 2026; San Francisco and Los Angeles checked July 2026; Silicon Valley checked October 2026), counted the way the directory hub counts it | 2026-10-28 |