Global confidence in private equity's ability to generate top returns has fallen over the past 12 months, with buyout investors turning their hopes to the Asia Pacific region for the most lucrative deals, according to a survey from secondaries specialist Coller Capital.

Coller's Global Private Equity Barometer found the number of investors in private equity globally predicting returns of 16% or more over the next three to five years has fallen from 50% to 40% since this time last year, while more than half of investors believe recent credit market turmoil signals an end to the global buyout boom.