In the past month, writedowns on the year-end values of buyout funds have trickled into the press. The discounts have been attributed to a variety of factors, including mark-to-market accounting and weakened portfolio company performance.
I post these with the caveat that its not fair to compare, because each firm can look at mark-to-market accounting slightly differently. Further, this list only includes write-downs from the nine funds we were able to gather information on. But on a rough year-over-year basis, Bain Capital IX and Blackstone Communications Partners took the biggest hits. On a quarterly basis, MatlinPatterson’s first fund was battered the worst, with AIG Private Equity a close second.
Here is a roundup of the numbers we have gathered to date:
Click on the chart to view the entire thing.
Download an excel spreadsheet here:Buyout Fund Writedowns April ’09.