Business North Carolina releases list of top $1 billion companies. | Stock Photo
Business North Carolina releases list of top $1 billion companies. | Stock Photo
A publication that covers North Carolina's businesses released a report that found firms with assets of more than $1 billion showed some growth in 2019.
Business North Carolina last conducted the state-centric survey two years ago, the publication reported in May. The analysis looked specifically at the billion-dollar businesses and ranks each of those firms.
Out of 36 firms ranked, Raleigh-based CapFinancial Partners and Barings in Charlotte loom large. CapFinancial’s Captrust added $51 billion last year while Barings was worth $35 billion, Business North Carolina reported.
Business North Carolina used data from the companies’ most recent government reports and additional information from San Diego-based research firm BrightScope, the publication reported. The list showed that 31 firms benefited from a strong stock market. It acknowledged the onset of the COVID-19 pandemic but did not note the public health crisis’s impact.
In terms of economic fallout from COVID-19, Chapel Hill-based TrueBridge Capital fared well with $190 million in April, Business North Carolina reported.
Durham’s Piedmont Investment Advisors, which previously landed in the Top 10, bowed out of the rankings while Cornerstone Advisors of Asheville and Novare Capital Management of Charlotte were notable additions, the publication reported. Both Cornerstone and Novare had $1.2 billion in assets.
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