金融市场

Big investors look to sell out of private equity after market rout

Pensions and endowments seek exit from battered portfolios in blow to buyout industry
The stock of big private equity groups such as Blackstone, KKR and Carlyle has plunged by about a fifth in value last week

Large institutional investors are studying options to shed stakes in illiquid private equity funds after the rout in global financial markets pummelled their portfolios, according to top private capital advisers.

The calls by pensions and endowments seeking ways to exit their investments, probably at discounts to their stated value, is a bad sign for the $4tn buyout industry. Industry giants such as Blackstone, KKR and Carlyle all saw their stocks plunge by about a fifth in value last week.

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