New York – U.S. private
equity fund-raising dipped 8% to $17.6 billion during the first quarter,
compared with the same quarter in 2009, according to new figures released by
Dow Jones LP Source.
The amount is substantially lower than the $65.9 billion
raised in the first quarter of 2008, showing just how hard the industry has
been hit by the economic downturn and credit crunch.
total is negligible, but the story behind the numbers is telling," said
Jennifer Rossa, managing editor of Dow Jones Private Equity Analyst.
commitments made during the first quarter were to funds early in their
fundraising process unlike the same period last year when many closes were holdovers
Leveraged buyout and corporate finance funds accounted for
more than half the total, while venture funds raised $4.1 billion, a 41%
increase from the same period last year.