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  "documentTitle": "Global Private Equity Report 2015",
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  "notes": "The slide discusses the competitive landscape of direct investing by LPs and the operational challenges they face compared to traditional PE firms.",
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      "text": "Bain & Company estimates that there may be no more than 100 institutional investors—less than 2% of the overall LP base for PE—that have the heft and the ability to mount direct investment programs.",
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      "text": "Looking just at the vast resources the biggest institutional investors and sovereign wealth funds can mobilize, it is easy to understand GPs' concerns. Bain & Company estimates that there may be no more than 100 institutional investors...",
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      "text": "There are real risks and challenges that any LP contemplating a direct investment program needs to reckon with. To begin with, they need to recreate all of the capabilities and processes a PE firm possesses...",
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      "text": "Notes: This is not an exhaustive list; values are assets under management in US dollars based on Preqin data as of January 2015; SWF stands for sovereign wealth fund. Source: Preqin",
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