Texas, California among states getting most private equity cash

Texas, California, Pennsylvania, New York and Florida received the most investment from private equity firms last year, according to a new report by an industry association.

PE firms invested more than $443 billion in U.S.-based companies last year, a 27 percent increase over 2012, according to the Private Equity Growth Capital Council's fourth annual report on the subject.

Texas received the most investment from private equity for the third year in a row, totaling $87.4 billion in 282 companies. The Lone Star State beat second-place California and third-ranking Pennsylvania, which moved up from sixth place in 2012. Other states that moved up in the rankings included Virginia, which jumped from 16th to seventh, and Maryland, Delaware and Minnesota, which moved into the top 20, according to the report.

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