While hedge funds have been struggling to keep limited partners from redeeming investments, the private equity industry was breathing a bit easier. Their agreements generally called for much longer, often 3-year, lock-ups that made the proverbial "rush to the exit" less likely. Indeed, some were touting the private equity model as one the hedge funds industry might want to mimic.

But now even private equity investors are "turning the screw to discuss renegotiating the terms of these previously rock solid commitments," reports the Financial Times. "Many investors in private equity funds are considering something akin to a buyer's strike. While most pension funds--the bulk of the money for private equity--say they have no trouble meeting calls for money, endowments and foundations have been hit by losses and some may no longer be able to afford to write checks they promised." 

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