Data sourced from Dakota Marketplace, the global LP and GP intelligence platform trusted by thousands of investment professionals. Learn More | Book a Demo
St. Louis doesn't get the coastal buzz, and that's part of the appeal. The metro combines a genuinely low cost of doing business with a work culture that prizes steadiness over flash, a combination that shows up directly in its private equity scene: fewer mega-deals, more disciplined, partnership-driven middle-market investing built for the long haul. Missouri's regulatory climate and tax incentives add real support for business formation and expansion, but the bigger draw for PE firms is a deep bench of founder-led and family-owned businesses across the region, exactly the kind of succession and growth-capital opportunities that reward patient capital.
Dakota Marketplace gives investment professionals a single platform for private equity intelligence, with real-time data, manager coverage, and performance insights built to support confident decision-making.
Below, we rank the ten leading private equity firms in the St. Louis metro by AUM using current Dakota Marketplace data, along with a look at their strategies and where they're putting capital to work.
1. Thompson Street Capital Partners
Overview: Thompson Street Capital Partners is a St. Louis-based, middle-market private equity firm managing approximately $4.9 billion in AUM across seven funds, with over 20 years of experience and more than 250 investments. TSCP specializes in transforming high-potential companies into market leaders through a combination of organic growth and strategic acquisitions.
Focus: TSCP targets investments in companies with enterprise values between $50 million and $500 million, particularly those that are asset-light, high-margin, and positioned as leaders within niche markets. The firm focuses on three core sectors: life sciences and healthcare, software and technology, and business and consumer services and products.
2. BW Forsyth Partners
Overview: BW Forsyth Partners is the private investment arm of Barry-Wehmiller, a multi-billion-dollar global manufacturing and engineering consulting firm based in St. Louis, managing approximately $1.0 billion in AUM. Since its inception in 2009, BW Forsyth has completed 40 acquisitions and currently operates multiple companies across the capital equipment and insurance services sectors.
Focus: BW Forsyth targets founder- and family-owned businesses undergoing transitions, with a strong preference for management buyouts, corporate carve-outs, and public-to-private opportunities. The firm looks for companies in North America and Europe, typically with revenues up to $250 million, EBITDA ranging from $1 million to $20 million, and enterprise values up to $200 million.
3. Compass Group
Overview: Compass Group is a St. Louis-based private investment firm managing approximately $801 million in AUM, founded in 2014, that partners with small-to-medium-sized private companies that prioritize people, values, and results. The firm recently closed its second fund at a hard cap of $408 million.
Focus: Compass targets platform investments in companies with enterprise values between $20 million and $200 million, and EBITDA ranging from $2 million to $15 million. Its primary sector interests include niche manufacturing, value-added distribution, and business and consumer services, with a geographic focus on North America.
4. Eagle Private Capital
Overview: Eagle Private Capital is a St. Louis-based private investment firm managing approximately $725 million in AUM, founded in 2010 to provide flexible subordinated debt and equity capital to lower-middle market businesses across the U.S. Eagle partners with management teams and sponsors to support growth, acquisitions, and ownership transitions.
Focus: Eagle targets companies with EBITDA above $2 million and revenue between $10 million and $100 million+, typically investing $4 million to $15 million per transaction. The firm participates in buyouts, recapitalizations, and growth financings across sectors including business services, healthcare, manufacturing, IT, and distribution.
5. Permanent Equity
Overview: Permanent Equity is a Columbia, Missouri-based investment firm managing approximately $509 million in AUM, that partners with primarily family-owned businesses to foster long-term, legacy-minded growth. The firm emphasizes durability, stewardship, and relational investing, offering capital and operational support while avoiding short-termism and publicity.
Focus: Permanent Equity targets growing and mature companies across industries excluding commodities, oilfield services, or asset-intensive businesses like real estate. It invests in businesses with $1-25M in free cash flow and healthy net margins above 10%, emphasizing long-term ownership and flexible deal structures.
6. Agellus Capital
Overview: Agellus Capital is a Clayton, Missouri-based private equity firm managing approximately $470 million in AUM, founded in 2024 to invest in and scale lower-middle market businesses across the U.S. and Canada. With its $400 million debut fund, Agellus partners with management teams to drive organic growth and execute strategic add-on acquisitions.
Focus: Agellus targets companies with EBITDA between $2 million and $20 million, typically investing $50 million to $80 million per platform. The firm focuses on control equity positions in facility services, logistics, IT managed services, and home and auto services.
7. Harbour Group
Overview: Harbour Group is a St. Louis-based private equity firm founded in 1976, managing approximately $448 million in AUM. Over nearly five decades, it has partnered with management teams to build and grow 231 businesses across 50 industries, taking an operationally intensive approach leveraging senior executives with an average of 25 years of experience.
Focus: Harbour Group targets product-oriented businesses, particularly in manufacturing and value-added distribution. Ideal acquisition candidates have $4 million to $50 million in EBITDA and North America-based management teams, though operational footprints may be international.
8. Sage Capital
Overview: Sage Capital is a St. Louis-based private equity firm managing approximately $335 million in AUM, established in 2004 to make long-term investments in lower-middle market businesses across North America. The firm is structured around the Sage Capital Investors Roundtable, a committed fund comprised of the founding group and similarly experienced new members.
Focus: Sage Capital targets companies with EBITDA between $3 million and $10 million, with investment sizes typically ranging from $5 million to $30 million, favoring long-term horizons over 10 years. Structurally, the firm participates in acquisitions, minority investments, co-investments, and mezzanine capital.
9. Broadview Group
Overview: Broadview Group is a St. Louis-based investment firm managing approximately $300 million in AUM that partners with business owners and growth-focused leadership teams to build sustainable, long-term businesses. Leveraging a permanent capital base, the firm emphasizes alignment with its partners by avoiding typical fund-driven exit timelines.
Focus: Broadview targets investments in U.S. and Canadian businesses requiring $15 to $75 million in equity capital, either through minority or majority transactions. Ideal candidates have revenue between $25 million and $250 million and EBITDA ranging from $3 million to $20 million, with a specialization in niche manufacturing, business services, specialty distribution, and B2B food and agriculture.
10. Vintage Stone Capital
Overview: Vintage Stone Capital is an independent-sponsor private equity firm managing approximately $250 million in AUM, focused on acquiring and modernizing legacy industrial services and light manufacturing businesses across the U.S. The firm recently added Kevin K. Albert, former Global Head of the Private Equity Placement Group at Merrill Lynch, as Senior Partner to help institutionalize its capital strategy.
Focus: Vintage Stone targets operationally complex industrial and light manufacturing businesses with $25 million to $100-125 million in enterprise value, partnering with management teams to modernize legacy assets through technology adoption and operational excellence.
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