The Political And Business Daily Dec 15, 2008_PE/VC investors go slower in 2008; Look to rebound in '09
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Blaming the negative returns from their investments for the decline in deal flow, Jagannadham Thunuguntla, equity head Nexgen Capital, the merchant-banking arm of brokerage firm SMC Global said, "The high volumes of private equity investments in 2006-2007 started to yield negative returns of as much as 67 per cent in 2008." "Because of this many private equity fund managers went on a defensive mood besides foreign funds were under severe cash redemption pressure," he noted.
