Private equity GPs sitting on more cash than ever

A recent report by Bain & Co. found that private equity general partners held about $2 trillion in undeployed cash at the end of 2018. Much of that dry powder has been driven by accelerated fundraising on the part of GPs that have collectively raised $8.4 trillion since 2003, while high valuations have also contributed to a riskier environment with fewer attractive opportunities.