A US private equity firm has confirmed that it is winding down and will not attempt a new fundraising amid research showing record numbers of fund closures in the private equity industry.

A spokesperson for mid-market firm Desai Capital Management confirmed that the fund will not attempt a new fundraising and is no longer an active concern. "We are no longer operating," the spokesperson said.

New York based Desai Capital Management is to wind down amid record numbers of fund closures in the private equity industry

Kiel Porter

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US private equity firm set to close

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