MUMBAI: The correction in stock prices due to the covid-19 pandemic has taken a toll on smart money managers such as private equity (PE) funds, with several of their listed bets now trading far below investment value, wiping out months and years of gains and potentially stretching exit timelines for these investors.
A similar situation is brewing in unlisted companies space where global and domestic private equity funds have committed billions of dollars of investor money.
In the listed space, investors such as global PE giants Blackstone, Bain Capital and Advent International as well as homegrown PE firms such as Multiples Alternate Asset Management and others have seen some of their bets lose over 50% of their value in the market rout