Private equity fundraising down year-over-year - Business First of Louisville:

uvepexatawus.blogspot.com
A study released Wednesday by Dow Jones Privatre Equity Analystsaid $54.9 billion was raiseds by 173 private equity fundw in the first half of 2009 from pension university endowments, foundations and other investors. As of June 30, 261 funds raised $152.7 billion, and for the full $287.5 billion was raised, seconrd highest total in history. But the studyh also said there were signesthe fund-raising market may be improvinv as the stock market showed more stability in the seconfd quarter and the institutions and firms that inves t in private equity funds as limited partners had a betterd understanding of the state of their own balancse sheets.
The study said leveraged buyoug and corporate finance funds continue to attracg the largest proportion ofcapital investment. In the firs t half of 2009, 73 buyout funde raised $28.7 billion, almost three-fourths less than last Funds also havesmaller goals. Just three were tryiny to raise morethan $8 billion. The dicey economu has prompted manypension funds, endowment and foundations to try to sell their private equity fund the study said. Secondarhy funds, which pool capital form investors to purchaswe existing stakes in privateequity funds, frequently at reducee prices, have seen increased investor interest as 18 secondarh funds have raised $13.9 billion.
That set a new annuall record for the secondary fund categoryy with sixmonths remaining. Venture capital funds saw similat drops as 51 firmw raised acombined $5.1 billionb by June 30, compared to $13.6 billion raisedd by 115 a year ago. The worst first-haldf total for venture capital funds was in 2003 when 34 fundaraised $2.2 billion.