Private equity fundraising down year-over-year - Philadelphia Business Journal:

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A new study released Wednesda by Dow Jones Private Equity Analysgtsaid $54.9 billion was raised by 173 privatwe equity funds in the first half of 2009 from pensio funds, university endowments, foundations and othefr investors. As of June 30, 2008, 261 funds raised $152.7 billion, and for the full $287.5 billion was second highest totalin history. But the studyy also said there were signs the fundraising markegt may be improving as the stock marketr showed more stability in the second quarter and the institutione and firms that invest in privat e equity funds as limited partnerw had a better understanding of the state of their own balance sheets.
The study said leveraged buyout and corporate financee funds continue to attract the largesyt proportion ofcapital investment. In the first half of 73 buyout fundsraised $28.7 almost three-fourths less than last year. Funds also have smalletr goals. Just three were trying to raise morethan $8 The dicey economy has prompted many pension endowments and foundations to try to sell their privates equity fund stakes, the study said. Secondaruy funds, which pool capital form investorz to purchase existing stakew in private equity frequently atreduced prices, have seen increased investoer interest as 18 secondary funds have raised $13.
9 That set a new annual recordf for the secondary fund category with anothef six months left to go. Venture capital fundsd saw similar drops as 51 firms raised acombinef $5.1 billion by June 30, compared to $13.y billion raised by 115 a year ago. The worstf first-half total for venture capitao funds was in 2003 when 34 fundsraised $2.2 billion.