Private equity firms are struggling to raise money despite offering unprecedented enticements to attract new investor cash, underscoring a sector-wide contraction that is denting the profitability of the industry.
Private equity groups raised just $592bn in the 12 months to June: their lowest tally for seven years, data from Preqin show.
The decline came even as firms offered more discounts such as management fee cuts, “early-bird discounts” for investors who commit quickly to new funds and other incentives.
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