Conversus Capital, one of the world’s largest listed private equity fund of funds, is planning to buy back up to $75m of its shares and begin investing for the first time since 2009, amid signs of confidence returning to the sector.

Conversus was hit badly by the financial crisis in 2008 when its share price plummeted to around $6 per unit in the fourth quarter from a high of $28 in July 2007. The vehicle's share price closed at $20.75 on 19 January.