Private Equity Fundraising Has A Brutal Quarter
Private equity fundraising dipped to $17.6 billion in the first quarter, demonstrating how hard the recession has been for the industry, according to Dow Jones LP Source.
The $17.6 billion was raised by 97 funds. During the same period a year ago, 75 private equity funds raised $19.1 billion. In the first quarter of 2008, 108 funds raised $65.9 billion.
Dow Jones called the quarter's fundraising total "negligible," and noted that many of the deals closed in the same period last year were holdovers from 2008.
Investors "are willing to put what they have to work, though they may not have much to invest," Dow Jones said.
Leveraged buyouts made up the majority of funds raised, and venture funds raised $4.1 billion, a 41 percent increase from a year ago.
WBJ Web Partners
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