Private equity firms in Dallas: 64 SEC-registered PE advisers in Dallas County, ranked from their filings

This report is for business owners and bankers looking for a Dallas buyer, job seekers, and companies that sell to private equity firms or their portfolio companies. It covers Dallas County, the geography of the Census figures below, and notes where the wider metro changes the picture.

The 20 largest private equity firms in Dallas

Source: SEC, Registered Investment Advisers file, October 2026 (Form ADV Items 5.A, 5.F and 7.B). All 20 give a Dallas main office. Included: private equity funds at least half of the adviser's private funds, and private fund assets at least half of its regulatory assets.

Regulatory assets add investors' uncalled commitments to each private fund's value and cover one adviser entity, so a firm's own AUM figure can differ. Tolleson Private Wealth Management is, as its name says, a wealth manager; it qualifies because most of its regulatory assets sit in private funds it advises, most of them private equity funds.

Why Dallas lists disagree

Dakota's 2026 guide to Dallas private equity firms puts Hudson Advisors first. On its Form ADV, Hudson Advisors reports $36.4 billion of regulatory assets, but only $0.9 billion of that in private funds, and 21 of its 55 private funds are private equity funds, so our rule leaves it out. Rankings also differ on geography: Gauge Capital ($3.4 billion), on the same list, files from Southlake, outside Dallas County, and TPG's headquarters is in Fort Worth.

The Form ADV definition of a private equity fund is broad: any private fund that isn't a hedge, liquidity, real estate, securitized asset or venture capital fund and doesn't offer ordinary redemption rights. Private credit, secondaries and energy funds fall inside it. That's why advisers as different as Sixth Street, RCP Advisors 2 and Merit Energy Company sit on one list. Merit Energy Company reports 782 employees, far more than any other adviser here, so read its brochure to see what the business does before treating it like a buyout shop.

Dallas in counts

The 64 split into 3 with $25 billion or more of regulatory assets, 4 with $5 billion to $25 billion, 16 with $1 billion to $5 billion, 16 with $500 million to $1 billion and 25 under $500 million. The median adviser has $721 million of regulatory assets and about 15 employees. Together the 88 advisers with any PE fund report 966 private equity funds.

What the Census count covers

County Business Patterns has no private equity code: private equity fund managers are classified in NAICS 523940 with financial planners and fund managers, and venture capital companies in 523910. The figures below are for the group containing both, NAICS 5239, other financial investment activities, in Dallas County, Texas.

The Census Bureau withholds the two largest classes for Dallas County; the total less the published classes leaves one establishment with 500 or more employees. In broader bands, 1,193 establishments have 1 to 19 employees, 71 have 20 to 99 and 23 have 100 or more. The count covers locations with paid employees, not companies, and leaves out the self-employed.

The listed managers nearby

Ridgepost Capital, called P10 until it changed its name on 11 February 2026, is headquartered at 2699 Howell Street in Dallas. Its 10-K reports $29.4 billion of fee-paying AUM, 326 employees and $297.3 million of 2025 revenue. TPG gives its principal executive offices as 301 Commerce Street, Fort Worth, and reported $303.0 billion of AUM, more than 1,900 employees and $4,670.2 million of revenue for 2025. Neither files Form ADV as a single PE adviser in Dallas County, so neither is ranked above.

Checking a Dallas firm

Smaller advisers below the SEC's thresholds register with the Texas State Securities Board instead, so search both the SEC's Investment Adviser Public Disclosure site and the Board's registration checks. On the SEC record, read Item 11 for disciplinary history, Schedule D for the list of funds and the Part 2A brochure for strategy and fees.

Selling to Dallas private equity firms

With 41 of the 64 under $1 billion, most Dallas PE firms are small teams: the median adviser has about 15 employees. Partners decide fast and buy what helps them close and own companies, rather than enterprise software for themselves.

Illustrative example. The company, premium figures and results are invented; the counts are from the SEC data above.

Bluebonnet Risk (bluebonnetrisk.example) places representations and warranties insurance and portfolio insurance programs for private equity buyers. It targets the 39 Dallas PE advisers with $500 million or more of regulatory assets and two people at each: the deal partner and the CFO, who often owns insurance across portfolio companies. If 8 firms place one policy each a year at an average commission of $45,000, that's $360,000, before any portfolio programs. The trigger to watch is a signed letter of intent; the research is knowing which firms are in exclusivity right now. Bebop finds firms that match a description like this and researches each account, and how to find decision makers covers reaching the partner.

Subject: R&W cover for [deal or sector]

Hi [first name],

[Firm]'s last few platform deals have been in [sector]. Representations and warranties policies in that space have moved on price and exclusions this year, and the quotes you get depend on how early the broker is in.

We place R&W and portfolio programs for Texas sponsors and can turn indications around in 48 hours.

Worth a quick call before your next LOI?

[Your name]

Where to look

Next step: see the region's lenders, banks and insurers in finance companies in Dallas.