More than two-thirds of private equity professionals believe the repercussions of the credit crunch will reverberate for years and have fundamentally changed the industry, according to a survey by Private Equity News, Financial News’ sister paper.

The poll, sponsored by law firm Simmons & Simmons, will close at the end of the week, but 70% of more than 500 respondents so far said the effects of the credit crunch would continue to be felt for some time and had created a permanent shift.