By Martin Arnold
Published: January 16 2009 02:00
Private equity groups have more than $1,000bn of "dry powder" to spend on new deals, after raising $554bn of new funds in 2008, according to research published yesterday by Prequin, the consultancy.
The hefty financial resources, in undrawn commitments from investors, show that private equity still has the firepower for new deals, even as many of their biggest investments from the bull markets of 2006 and 2007 run into trouble.
Last year's $554bn fundraising total was down 11 per cent from the record of $625bn set in 2007. Fundraising slowed over the course of 2008, slipping from $159.6bn in the first quarter to $97.6bn in the fourth quarter.
Bitcoin IRA Review – Tax Free Crypto?
2 days ago