Banks feel pain of record August slump

Private equity transactions dry up, leading to fears the M&A boom is over

European merger and acquisitions activity endured its biggest summer slump last month, raising concerns that deals are drying up as a result of the global credit crisis.

The value of European M&A deals announced for August fell 69% from the previous month to $62bn (€45bn) as the pipeline of private equity deals relying on debt market funding petered out, according to Dealogic, a data provider.

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Ray Dalio Sells Last Stake in Bridgewater, the Hedge Fund That Made Him a BillionaireExternal link

Ray Dalio Sells Last Stake in Bridgewater, the Hedge Fund That Made Him a Billionaire