June 24--California led all states in the number of companies with private equity investments in 2013, but it was far behind Texas in total dollars invested, according to the Washington, D.C.-based Private Equity Growth Capital Council.
The council's fourth annual report, entitled "Private Equity: Top States and Districts," said private equity firms last year invested $54 billion in 304 California companies, the most of any state.
However, for the third year in a row, Texas received the most monetary investment from private equity, with $87.4 billion invested in 282 companies.
Pennsylvania ranked third, with $44.4 billion invested in 91 companies. Overall, the report said private equity firms invested more than $443 billion in nearly 2,400 U.S.-based companies last year, a 27 percent increase over 2012.
"Private equity investment is long-term capital at work," said Steve Judge, president and CEO of the council. "The companies in states across the country that receive private equity investment are able to expand their businesses, develop new innovations and hire workers."
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