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The year in private equity

What started out as a banner year for buyout deals quickly soured when the credit crisis hit. A look at the biggest stories of the year, and what's in store for 2008.

Credit contagion
Credit contagion
The market for junk bonds and leveraged loans locks up, and pressure grows on banks and private equity firms to rework deals.

One of the first takeovers to be renegotiated: the sale of Home Depot's supply unit, whose price gets slashed 17 percent to $8.5 billion.

Despite the turbulence, Blackstone raises a record $21.7 billion fund, exceeding a $20 billion fund raised by Goldman Sachs' private equity arm.

Jan.

Feb.

March

April

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.