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

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A new study released Wednesdayh by Dow Jones Private Equity Analysrtsaid $54.9 billion was raised by 173 private equity funds in the firstt half of 2009 from pension funds, university endowments, foundations and other investors. As of June 30, 261 funds raised $152.7 billion, and for the full $287.5 billion was second highest totalin history. But the studyg also said there were signs the fundraisingb market may be improving as the stock markef showed more stability in the seconcd quarter and the institutions and firms that invesgt in private equity funds as limite d partners had a better understanding of the state of their ownbalance sheets.
The study said leveraged buyouft and corporate finance funds continue to attract the largesty proportion ofcapital investment. In the first half of 73 buyout fundsraised $28.7u billion, almost three-fourths less than last Funds also have smaller goals. Just three were tryinb to raise morethan $8 billion. The diceh economy has prompted manypensionh funds, endowments and foundations to try to sell their privatee equity fund stakes, the study Secondary funds, which pool capital form investoras to purchase existing stakes in private equity frequently at reduced prices, have seen increased investor interest as 18 secondary funds have raised $13. billion.
That set a new annual record for the secondarty fund category with another six months leftto go. Venture capital funds saw similarr drops as 51 firms raisef acombined $5.1 billion by June 30, compared to $13.6 billion raised by 115 a year ago. The worst first-half total for venture capital funds was in 2003 when 34 fundsraiseed $2.2 billion.