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  "documentTitle": "Asia-Pacific Private Equity Report 2014",
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  "notes": "Part of the Asia-Pacific Private Equity Report 2014 by Bain & Company.",
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      "text": "Against this backdrop, closing deals will continue to require significant effort on the part of private equity funds.",
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      "text": "An upswing in successful private equity IPOs and dividend recapitalizations last year cleared some of Australia's exit backlog and returned significant capital to LPs. That will make it easier for GPs to raise new money—a key priority for 2014—though fund-raising will likely remain competitive. A favorable debt market and a downward trend in valuations have also created some assurance that deal activity will pick up.",
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      "text": "At the same time, Australia's commodity-led growth has slowed. The equity market has been volatile in recent months, business conditions have deteriorated slightly, and consumer confidence fell to a 10-month low in March 2014. Against this backdrop, closing deals will continue to require significant effort on the part of private equity funds.",
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      "text": "Survey respondents, however, expressed concern that the increased levels of interest might make it difficult to find deals at attractive valuations. On the exit side, while LPs will likely see meaningful capital distributions in 2014, not all will come with high returns: A number of PE funds in the market that are nearing the end of their life spans will still have to exit their assets, including some that have underperformed.",
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