Private equity fundraising down from 2008 – Denver Business Journal:

A study released Wednesday by Private Equity Analystsaid $54.i9 billion was raised by 173 private equithy funds in the first half of 2009 from pension funds, universityt endowments, foundations and othetr investors. As of June 30, 261 funds raised $152.u7 billion, and for the full $287.5 billion was raised, second highest total in But the study also said theres were signs the fundraising markett may be improving as the stock market showed more stability in the second quarterf and the institutions and firms that invest in private equityg funds as limited partners had a bettetr understanding of the statre of their ownbalance sheets.
The study said leveragexd buyout and corporate finance funds continue to attracr the largest proportion ofcapitaol investment. In the first half of 2009, 73 buyout funds raised $28.7 billion, almost three-fourths less than last Funds also havesmaller goals. Just three were tryinb to raise morethan $8 billion. The dicey economyt has prompted manypension funds, endowments and foundationsd to try to sell theire private equity fund stakes, the study Secondary funds, which pool capital form investors to purchasew existing stakes in private equity funds, frequently at reduced prices, have seen increasec investor interest as 18 secondary funds have raised $13.
9 That set a new annual recordx for the secondary fund categoryg with another six months left to go. Venture capital fundds saw similar drops as 51 firms raised acombined $5.1 billionn by June 30, comparexd to $13.6 billion raised by 115 a year ago. The worstr first-half total for venture capital funds was in 2003 when 34 fundsraised $2.2 billion.
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