New York – Last year, U.S. private
equity fund-raising suffered its worst year since 2003, according to new
figures from Dow Jones LP Source.
In 2009, 331 funds raised $95.8 billion, down
68.1% from the amount raised the prior year.
It marked the first time since
2003 that private equity firms raised less than $100 billion, and with the lone
exception of secondary funds, every sector experienced sharp slowdowns.
Among
the few bright spots were a new $8.8 billion fund for Hellman & Friedman,
as well as oversubscribed funds for Charles River Ventures and Matrix Partners.
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