While many know Philadelphia is a city rich in culture, food, and sports, some may not appreciate the vibrant private equity scene it boasts. Its central location and eclectic economy make it an area conducive to private capital growth. Philadelphia plays a pivotal role in critical economic sectors like healthcare, finance, technology, education, and manufacturing. Pennsylvania’s business-friendly environment and Philadelphia’s reasonable cost of living make it an enticing alternative to places like New York or San Francisco. Pennsylvania has defied broader economic trends, continuing to attract businesses while many companies have left northeastern states like New York, Connecticut, and Massachusetts. This is a testament to Pennsylvania—and Philadelphia in particular—being a great area for growth and capital allocation.
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In this article, we’re spotlighting the top private equity firms in the Philadelphia metro area that are leading the charge in deal-making and market transformation. By the end, you’ll gain a deeper understanding of these firms, their investment strategies, and their impact on the private equity space.
1. Hamilton Lane
Overview: Hamilton Lane is a global investment manager specializing in private markets. Founded in 1991 and headquartered in Conshohocken, Pennsylvania, the firm manages and supervises approximately $956.1 billion in assets as of December 31, 2024. Hamilton Lane serves a broad client base including institutional investors, pension funds, sovereign wealth funds, insurance companies, and high-net-worth individuals. With a global presence across North America, Europe, Asia-Pacific, and the Middle East, the firm brings over three decades of expertise to private equity, credit, infrastructure, real estate, and venture capital. Hamilton Lane is publicly traded on the NASDAQ under the ticker HLNE.
Focus: Hamilton Lane delivers tailored private market solutions through discretionary and advisory services. Their approach emphasizes data-driven investing, risk management, and ESG integration. The firm empowers clients with advanced analytics, portfolio construction, and market insights—prioritizing transparency, performance, and long-term value creation.
2. Franklin Park
Overview: Franklin Park is an independent, employee-owned investment firm specializing in private markets. Founded in 2003 and headquartered in Bala Cynwyd, Pennsylvania—with an additional office in Dublin, Ireland—the firm provides institutional investors with access to private equity, private debt, and venture capital through fund-of-funds, co-investments, and advisory accounts. Franklin Park manages customized investment solutions for pensions, endowments, foundations, and other sophisticated investors. Its senior leadership team brings over 350 years of combined experience.
Focus: Franklin Park invests across private equity, private debt, and venture capital strategies. The firm targets less efficient market segments and partners with managers who demonstrate sustainable competitive advantages. Investment strategies include global fund investments and direct co-investments across buyouts, growth equity, structured credit, and technology-driven venture capital. Key sectors include software, consumer products, and industrials.
3. CenterSquare Investment Management
Overview: CenterSquare Investment Management is a global real estate investment manager founded in 1987 and headquartered in Philadelphia, Pennsylvania. The firm manages approximately $13.5 billion in assets, offering strategies across listed real estate, private equity real estate, private real estate debt, and strategic capital. With around 100 employees across offices in Philadelphia, New York, Los Angeles, London, and Singapore, CenterSquare serves institutional investors and high-net-worth individuals.
Focus: CenterSquare delivers value through actively managed real estate investment strategies. Offerings include U.S. and global listed real estate emphasizing relative value, private equity real estate targeting core-plus and value-add opportunities, and private real estate debt providing core-plus and high-yield solutions. Their disciplined research and collaborative culture identify exceptional real estate investment opportunities that align with broader private equity strategies.
4. Susquehanna Growth Equity
Overview: Susquehanna Growth Equity (SGE) is the growth equity investment arm of Susquehanna International Group (SIG), a global trading and technology firm. Founded in 2006 and based in Philadelphia, SGE manages over $2B in capital and focuses on backing exceptional, founder-led, capital-efficient software and data businesses. Unique among growth equity firms, SGE operates with permanent capital from SIG—allowing it to invest with a flexible mandate, no fund lifecycle constraints, and a long-term partnership approach. The firm is sector-specialized in B2B software, and its team offers deep operational and strategic support to portfolio companies while respecting founder autonomy.
Focus: SGE targets bootstrapped or lightly capitalized, recurring-revenue businesses across B2B software, vertical SaaS, fintech, healthcare IT, HR tech, compliance software, marketplaces, and data & analytics platforms. It seeks to invest $5M–$100M in companies with strong fundamentals—typically $5M–$50M+ in ARR, 30%+ YoY growth, and healthy unit economics. The firm primarily invests in North America, with select investments in Europe and Israel. SGE is flexible on ownership stake (minority or majority), focuses on founder-owned companies, and typically holds investments longer than traditional PE/Growth firms.
5. Lovell Minnick Partners
Overview: Founded in 1999, Lovell Minnick Partners (LMP) is a private equity firm specializing in investments within the financial services, fintech, and business services sectors. Headquartered in Radnor, Pennsylvania, with offices in Los Angeles and New York, LMP has raised over $5 billion in committed capital and invested in over 50 companies. The firm has also completed more than 200 add-on acquisitions.
Focus: LMP targets middle-market companies in the Americas and Europe. Focus sectors include fintech, insuretech, payments, insurance services, wealth management, and business services. Typical equity investments range from $40 million to $150 million, often with co-investors. LMP helps founders scale their businesses through organic growth and strategic acquisitions. Portfolio companies include ATTOM, Worldwide Facilities, and Foreside Financial Group.
6. Graham Partners
Overview: Graham Partners is a private investment firm founded in 1988 and headquartered in Newtown Square, Pennsylvania. The firm focuses on investing in technology-driven companies innovating in advanced manufacturing. With over $3.7 billion in committed capital, Graham has completed more than 130 acquisitions. The firm stems from The Graham Group, founded by Donald C. Graham.
Focus: Graham Partners targets middle-market companies with proprietary technologies and strong growth potential. Core sectors include Industrial Technology, Medical Devices & Life Sciences, and Consumer & Food Manufacturing. The firm partners with entrepreneurial businesses to scale operations, enhance products, and accelerate innovation in manufacturing.
7. LBC Credit Partners
Overview: Founded in 2005 and headquartered in the Philadelphia area, LBC Credit Partners is a provider of financing solutions for middle-market companies across North America. The firm specializes in senior secured, unitranche, second lien, and mezzanine debt, along with equity co-investments. Since inception, LBC has invested over $10.9 billion across more than 329 transactions. In 2021, LBC was acquired by CIFC Asset Management LLC.
Focus: LBC provides customized debt and equity solutions to companies with EBITDA greater than $5 million. Investment sizes range from $15 million to $150 million. Sectors include consumer discretionary, healthcare, industrials, and technology. The firm works across sponsored and non-sponsored transactions, emphasizing flexibility and execution of complex capital structures.
8. LLR Partners
Overview: Founded in 1999 and headquartered in Philadelphia, Pennsylvania, LLR Partners is a lower middle-market private equity firm investing in technology and healthcare businesses. With over $7 billion raised across seven funds, LLR provides flexible equity capital for growth, recapitalizations, and buyouts.
Focus: LLR invests $25 million to $200 million in companies with proven, scalable models and strong organic growth. The firm partners with business owners to define and execute high-impact growth strategies. Key verticals include education, fintech, healthcare, industrial technology, and software. Notable exits include investments in AvidXchange and eLocal.
9. Argosy Capital
Overview: Founded in 1990 and headquartered in Wayne, Pennsylvania, Argosy Capital manages approximately $3.5 billion in assets. The firm invests in lower middle-market companies through private equity, real estate, credit, secondaries, and healthcare strategies.
Focus: Argosy targets companies with revenues up to $100 million and EBITDA up to $10 million. It specializes in business services and manufacturing, with expertise in sectors like aviation services, B2B franchising, engineered materials, industrial services, and tech-enabled platforms. Investment structures range from equity to structured junior capital, with investments from $10 million to $35 million and typical hold periods of 3 to 7 years.
10. NewSpring Capital
Overview: Founded in 1999 and headquartered in Radnor, Pennsylvania, NewSpring Capital is a private equity firm specializing in investments in lower middle-market companies. With over $3.5 billion in assets under management, NewSpring has invested in more than 250 companies across a range of industries including technology, healthcare, business services, and manufacturing. The firm is led by a team of seasoned investors, former CEOs, and experienced operators who provide strategic and operational guidance to its portfolio companies.
Focus: NewSpring Capital provides flexible capital solutions designed to support growth, acquisitions, and recapitalizations. The firm focuses on five core areas: growth equity investments in high-growth companies; healthcare investments aimed at improving patient outcomes and efficiency; mezzanine capital for companies seeking structured debt and equity financing; long-term control investments in scalable platform companies; and strategic backing for multi-unit and franchise models. Across all strategies, NewSpring takes a collaborative approach with management teams to drive performance, scale operations, and create long-term enterprise value.
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