The number of investment exits, or selloffs, by private equity (PE) firms has more than halved to 21 transactions in the year ended March 31, 2009, against the previous year, according data compiled by Venture Intelligence, a firm that tracks PE and venture capital investments in India. In terms of value, PE firms encashed $976 million through mergers and acquisitions (M&A) in 2008-09 as against $1.63 billion, for 50 deals, in the previous fiscal. PE firms, which invest in a company looking for capital appreciation, exit through various routes, including a trade sale to a strategic acquirer, public listing, recapitalisation and secondary sale to other PE investors. Trade sale is the most common exit route for PE firms. […]