3Q 2014 PE deal flow slowed from previous quarters, due to rising valuations and a dearth of quality investment opportunities in the market. Activity subsided to its lowest level since 1Q 2011, with 1,060 deals completed worldwide, and nearly $204 billion in capital deployed. While investors are staying on the sidelines in many cases, they’re finding ample opportunities to exit, with the median exit size more than doubling. As more capital has funneled back to LPs, fundraising levels remain strong. With just over 87% of funds hitting their target and time to close shrinking further, it seems that PE firms are setting more modest fundraising goals in the midst of a tough deal-making environment.

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