Matt Levin

Venture capital funds returned 5.1% over a one-year time horizon, down from 13% for the first quarter of 2008, according to an industry index. The asset class still outperformed the public markets, with later-stage funds leading the way in the shorter term.

Reports of an imminent $1.28bn deal for PT Bumi Resources are premature and carry a higher price tag than the firm would likely consider, PEO has learned.

Corsair Capital will be made whole on its investment in National City because of an anti-dilution provision, according to a source. The US Treasury will take a $7.7bn stake in the combined entity.

The German fund of funds has hired Andrés Ebhardt, who has a background working with high net worth families, to expand the firm’s international investor base.

A report commissioned by the Kentucky governor’s office has concluded that the Kentucky Retirement Systems' and the Kentucky Teachers’ Retirement System’s ‘opportunity cost’ for below-average performance amounted to $5bn.

The seeding arm of the hedge fund of funds has provided a $75m anchor investment in London-based Beechbrook’s first ever vehicle.

The financial services-focused firm has hired Mitchell Caplan, former chief executive of the online stock trading giant. Founded in 2005 as a joint venture between Venturion Capital and Jeffrey Greenberg, Aquiline is currently investing its debut $1.1bn fund.

Despite a drop in total capital deployed and first-time financings, experts say the effects of chaos in the financial markets won’t be felt until subsequent quarters. Cleantech enjoys an upsurge.

The arts and crafts big-box chain has drawn an aggregate of $120m from its senior secured asset-based credit facility to ‘meet its cash needs while there are disruptions in the debt markets’. Bain and Blackstone bought the US retailer in 2006 in a $6bn deal.

Private equity funds generated an internal rate of return of -1.51% percent for the second quarter of 2008, according to the State Street Private Equity Index.