U.S. private equity funds raised just $15.5 billion in the first quarter of the year, down 81 percent from the same quarter last year, according to a new report by Dow Jones Private Equity Analyst.
Pension funds, university endowments and foundations have all been hit hard by the economic crisis, making them hesitant to invest more money in private equities, the report says.
Leveraged buyout and corporate finance funds raised just under $12.1 billion, down 75 percent from Q1 2008. Venture capital investment dropped 64 percent to less than $2.4 billion.
