PE Firm Desai Capital To Shut Operations

U.S. private equity firm, Desai Capital Management, is winding down its operations.

U.S. private equity firm, Desai Capital Management, is winding down its operations, Financial News reports. The firm, which sold its remaining assets in 2010 and is in the process of handing returns to investors, will not attempt a new fundraising.

The decision follows the retirement of the firm’s founder, Rohit Desai. The company’s last fund, Private Equity Investors IV, raised $410 million in 2001 to focus on buyouts in North America.

Click here for the story from Financial News.