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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.

Debt casts shadow
Debt casts shadow
Focus intensifies on the $300 billion backlog of debt that needs to be sold before a number of deals can close. Issuers eye a massive financing package for First Data's buyout, which they hope will revive the market.

Bankers end up selling some of the loans, but at a discount. The inability to bring the entire package to the market suggests investors still have no big appetite for risk.

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