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PE investments slump 87% in March quarter

PE investments slump 87% in March quarter
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First Published: Wed, Apr 08 2009. 10 46 PM IST
Updated: Wed, Apr 08 2009. 10 46 PM IST
Mumbai: Private equity investments in India tumbled 87% in the first quarter of the year as fund managers struggled to raise fresh capital following the drop in value of their previous investments, a research firm said on Wednesday.
New investments by buyout firms dropped to $526 million (Rs2656.3 crore) in the first three months, from $3.9 billion a year earlier, according to an e-mailed statement from Venture Intelligence Ltd. The number of transactions fell to 36 from 133 a year earlier. “The latest number makes one wonder whether we are living in 2002-03,” said Arun Natarajan, chief executive officer of Venture Intelligence Ltd, referring to a plunge in investments in the year after the technology bubble burst.
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First Published: Wed, Apr 08 2009. 10 46 PM IST
More Topics: PE | Private Equity | Investments | Funds | Capital |