The amount of money returned to investors by private equity funds fell to a seven-year low in 2009, according to new figures that will deal a fresh blow the industry’s hopes of raising new funds.

Funds returned $60bn (€44.7bn) to investors last year, according to a report from data provider Preqin, almost half the $118bn figure of 2008 and the lowest amount since $57bn was given back in 2003.