IT Capital

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Watching Profits Plunge

The technology sector is the fall guy for the private equity meltdown.

By Kirk Kjeldsen

The results are in. UBS Warburg’s profit fell 33 percent in the second quarter; about half of that decline was ascribed to losses from private equity investments. Deutsche Bank’s investment income fell 40 percent from the second quarter of 2000, forcing the bank to write off $700 million, almost two thirds of which was attributed to private equity. And JP Morgan Partners, JP Morgan

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