The private equity boom is over, according to research published on Wednesday that showed the value of buy-outs slumped to a four-year low in the first half as the credit crisis and economic uncertainty took their toll.

The value of UK buy-outs has nosedived to £10.9bn this year, down from £24.5bn in first half of 2007 and the lowest since 2004, according to research published by the Centre for Management Buy-out Research (CMBOR).