Falling equity markets have trapped major private equity (PE) investors such as Warburg Pincus, Blackstone Group, Carlyle, Apax Partners, Chrys Capital and Citigroup.Last year, when the market touched new highs, these PE funds invested in companies such as Bharti Airtel and Suzlon, some with one-year lock-in periods. Now, the value of these investments has fallen drastically and the funds find their PIPE (private investment in public enterprises) portfolios awash in red. PIPE deals include qualified institutional placements, or QIPs, which have no lock-in and private placements. […]