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During second quarter 2009, 89 private equity funds reached a final close securing US$79.7 billion among them, considerably less than US$194.5 billion raised by 274 funds to hold a final close in the same quarter previous year, the survey by global research firm Preqin said.
“In contrast to past years where investors would be making numerous new investments throughout the year in order to maintain their allocation to private equity, in the first half of 2009 only 41 per cent of those polled have made any new investments at all,” Preqin said.
Although investor appetite for PE has taken a slight knock following the market downturn, most investors recognise the long-term nature of the asset class and intend to remain in it for the foreseeable future.