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NEW YORK - At the halfway point of 2009, private equity firms raised just over one-third the capital they were able to attract from pension funds, university endowments, foundations and other investors in the first half of 2008.
Private equity firms made offers to acquire Harrah’s Entertainment and Station Casinos in 2006 and early 2007, when capital was cheap and business was booming.
Hall, 60, will become executive chairman after serving as managing partner for 22 years, the London-based firm said in a statement today. Langmuir, 54, will oversee the firm’s medium- and long-term strategy as he steps back from making investments.
July 6 (Bloomberg) -- The 2 percent management fee that has been the industry benchmark for leveraged buyout funds since the 1970s is headed for extinction.
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